Crypto analyst Miles Deutscher tweeted that the mentality of "avoiding problems" is the biggest killer in the crypto industry. He admitted to losing millions of dollars during this cycle due to neglecting to lock in profits and failing to identify risk signals in a timely manner. He pointed out that when the market situation is good, it is easy to relax vigilance due to fanaticism; When the market is sluggish, investment portfolio management may be neglected due to avoidance psychology, missing buying opportunities or necessary risk avoidance.
Miles shared a personal example where he foresaw the weakening trend of the US dollar, but failed to fully hedge it, resulting in significant losses in foreign exchange trading. He emphasized that action is more important than opinion in investment, and advised investors to remain objective and continuously evaluate risks and opportunities. He also mentioned that avoiding looking at loss making investment portfolios may be a manifestation of avoidance psychology, but it will only exacerbate the problem as investment portfolios require continuous management. He believes that investors should remain active and pay attention to market dynamics unless they fully hold BTC or stablecoins.
