Why is "overconfidence" the biggest culprit of losing money in the cryptocurrency market?
Many people, after spending some time in the cryptocurrency market, begin to feel that they have unique insights and accurate judgments, even boasting of being "market experts".
This overconfidence is extremely dangerous; it can lead you to ignore risks, underestimate stop-loss measures, and blindly increase your positions.
Overconfidence makes you overlook the unpredictability of the market, mistaking luck for skill, and as a result, a significant drawdown could leave you with nothing.
True experts understand humility and caution, respect the uncertainty of the market, and maintain a mindset of continuous learning.
Remember: no one in the cryptocurrency market can be right all the time; overconfidence is the fastest path to failure.
