Ego and too much confidence are dangerous in investing.

[Emitdama]

Well, at leas you learnt your lesson from this, and you will definitely not repeat the same thing in your entire life. And, by sharing this, I hope a lot of other newbies will also learn from your mistake and do their due research before investing any money into any coin/token no matter how much hype it is getting within the community.

We've seen it many times in the past, tokens/coins which with temporary hypes are generally the reason for newbies to lost money since they invest late and then when the token falls and fails to gain value again, they realize they did a mistake but there's no point then.

[bounceback]

Hmm, this is happening to all. I assume only a few people in crypto can say they are not facing this in their crypto life. I also lost the chance during the 2017-2018 bullish market. The thought was the same as you, and hold them for becoming a millionaire lol (kidding). But my bad I was so stupid and lost them all due to the bear market starting.

Yes it's true, usually when someone who is not used to dealing with the cryptocurrency market, I think they will also feel the same way because most of them will definitely be tempted when they have succeeded in earning big income from their first investment and think that they can earn more bigger than what they got at that time if they put all the funds they had back into random coins without looking at the fundamentals and intrinsic value of the coins they wanted to invest so that in the end they had to suffer losses because they were too obsessed with getting rich quick.

[Razmirraz]

You've forgotten the "Do your own research" thing when putting your money into a shitcoin that's still weak in fundamentals a second time. Your carelessness has gone beyond what it should not do, investing in Cryptocurrencies especially shitcoins is much riskier than investing in high end coins like Bitcoin, ETH and BNB. It is important to do thorough research before investing in shitcoins, overall Cryptocurrencies are still considered highly volatile speculative investments, so buy as you can afford the risk.

[alastantiger]

Plato, one of the greatest philosophers to have ever lived, had a saying which goes "I know that I know nothing". Ego would blind you. Overconfidence will lead you astray. I would guess that you are a "solo- investor".  I mean that you are not in any crypto community where you would have gotten guidance, mentoring and advice. In my estimation, no matter many years you have spent in the crypto ecosystem or how much money you have made you should take caution and be teachable. You should never stop learning. I do believe that the more knowledge you acquire, the less ego you'd have.

[Olivia Bell]

I Genuinely think this is a great emerging website to get some latest info on hot crypto topics. I am not sponsored in any kind for this. Do check out the content. Websites like these need our support. @www.CryptoExist.com

[Rigon]

2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .

We know pride is the root of downfall. Pride is dangerous anywhere, not just in investment or business. Many people like you have fallen by boasting such thoughts. Your life has a lot in common with mine. I have also earned a lot in life from this bitcoin forum. But I didn't succeed like you, I went down a lot. At one time I also had many invested coins in which I saw a lot of money. But due to market dumping those invested coins are now completely destroyed. So I have made a decision in life and am living with that decision. I am converting all my earnings into my country's money without investing it or using it for anything.

[Wakate]

2021 I started my journey here in crypto, I was lucky because I was able to invest in other cryptos before it went all the way up. NFTs, P2E games, airdrops and hyped shitcoins lol. Of course I earned a lot and since it's my first time I became very confident thinking I'm so smart lol . I have more money to spare, so I end up investing left and right carelessly thinking i will earn more but the truth is majority of those i have invested are lost money because of bear market, scam projects and rugpulled shitcoins. I think I am not for crypto .

Ego is very bad and It can make us to nit bother about making enquiry that will lead to getting more information about the project we want to invest in. If we have too much ego we will not be able to flow with people and lack information that is need to get to the next level.  knowledge is a big thing we need to sort for because it will give us guidelines on how to go about our crypto journey. We learn from each other and no man island in the cryptocurrency market.

[RockBell]

I don't like investing in altcoins despite their reputation because most people don't do any personal research about a project before investing. FTX should be a lesson by now, but people don't listen, and that's the problem: people invest in projects that will increase in value by 10 to 100 times without considering the risk behind it that is the number one thing in cryptocurency always research before investing. Like they say experience is the best teacher.