In the world of crypto, lots of people often make the same mistakes because they just follow what everyone else is doing. Even though they have all the information but they still end up doing those things that dont make sense.
It is like when everyone rushes to buy or sell Bitcoin because they see others doing it without really thinking about what smart for them and they still do it again and again. It makes us wonder why do people keep making these same mistakes again and again.
There are some mind set behind this reason that we will discuss here.
When the market gets really up and down and lots of people immediately look to the news to figure out what to do next. During such times, individuals often feel uncertain and anxious about the state of their investments.
It is common for us to be influenced by crypto blogger or social media crypto influencers when it comes to investment decisions including venturing into futures trading. We use a lot of borrowed money by thinking that we can make big profits even though we might not have enough cash to handle the risks.
As BTC price reached $73000 then some folks were not selling and never lock the investment in profits because they hopped it will go even higher. But when the price starts going back down they regret not selling earlier.
In the end, because they did not make a clear decision. they end up losing a lot of money when they are forced to sell their assets for less than they bought them. It is a tough lesson but it teaches them the importance of making smart choices in the future.
Again and again, we see this pattern play out. It is a stark reminder that supidity can be a cause of hell. It is the big difference between taking smart risks and making reckless decisions.
I have also get big loss in margin trade that cause financial problem for me. Spot trade is safe and secure, now my whole trading and investment is in steemit blockchain and steem coin.
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