According to ChainCatcher, crypto analyst Miles Deutscher tweeted that the "avoidance mentality" is the biggest killer in the crypto industry. He candidly admitted losing millions of dollars in this cycle due to failing to lock in profits and not identifying risk signals in time. He pointed out that when the market is good, people can easily become complacent due to enthusiasm; while during market downturns, they might ignore portfolio management due to avoidance psychology, missing buying opportunities or necessary risk mitigation.
Miles shared a personal example where he had foreseen the weakening trend of the dollar but failed to adequately hedge, resulting in significant forex trading losses. He emphasized that action is more important than opinion in investing, and advised investors to remain objective and continuously assess risks and opportunities. He also mentioned that avoiding looking at loss-making portfolios might be a manifestation of avoidance psychology, but this only exacerbates the problem, as portfolios require continuous management. He believes that unless completely holding BTC or stablecoins, investors should remain actively engaged with market dynamics.
