Five Common Mental Traps in the Cryptocurrency Market:
1. Overly Panic During Market Declines
Whenever the market experiences extreme fluctuations, such as the events of '94 and '312', or the mining restructuring in 2021, investors often fall into panic, mistakenly believing that the market will crash, and overreacting.
2. Blindly Following Others' Trades
Seeing others make certain investment decisions, lacking the ability to analyze independently, and blindly following others' actions while neglecting one's own investment judgment.
3. Fantasizing About Overnight Wealth
Many people harbor dreams of quickly becoming rich through cryptocurrency, ignoring the importance of continuous learning and rational investing, hoping for an overnight surge in wealth.
4. Underestimating Small Fluctuations
Not taking small price fluctuations seriously, often overlooking the accumulation of these small opportunities, and neglecting the accumulation of stable returns.
5. Constant Anxiety
Being overly anxious about short-term market fluctuations leads to anxiety affecting normal life and work, making it difficult to concentrate on other important matters.