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196 - 10 Timeless Lessons for Crypto Investors With Morgan Housel
Bankless
Wealth Flexing Clouded by Rapid Market Cycles
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The acceleration of market cycles, driven largely by social media, has led to faster gains and losses in crypto trading. Individuals often flaunt only their winning trades while keeping losses hidden, creating a misleading narrative that everyone is succeeding. This creates an unhealthy relationship with wealth, particularly evident during bull markets. As excitement mounts, traders can become increasingly detached from reality, akin to wearing 'bull market goggles' that obscure true market conditions. Therefore, new entrants in crypto should avoid comparing themselves to others and experiencing envy, understanding the curated nature of social media portrayals.
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