The project you spend three months researching is less important than the market direction you identify in three minutes — the biggest trap in investment decisions is the illusion that "the more you invest, the more correct you are."

Many people have a dangerous cognitive pattern: the more time they spend on a project, a track, or a direction, the more they believe they are right. This is a deadly trap in investing.
You spend three months studying an L2 ecosystem, tokenomics model, TVL trends, team background — these studies give you a deep understanding of the project, and also create a deep emotional attachment. When the market starts to decline, your rational analysis tells you "the fundamentals haven't changed," but the market is telling you "funds are withdrawing." You choose to believe your three months of research rather than the real-time pricing signals of the market. You add to your position, hold your position, and tell yourself "it's undervalued and will come back eventually."
The problem isn't that your research was wrong — it's that the price of this project isn't determined by the depth of your research. Price is determined by liquidity, market sentiment, macro environment, and collective expectations — none of which are within the scope of your three-month research. You spend time understanding "what this project is," while the market is pricing "how much this project is worth right now" — the gap between the two can never be bridged by research duration.
So, before making any investment decision, ask yourself a question — if you only researched this project for three days instead of three months, would you still make the same position judgment? If the answer is no, then your position contains elements of "sunk cost fallacy." Remove that part, and what remains is the true investment logic.