I was just thinking about why so many people still lose money in crypto, despite having access to a lot of public information. It turns out the issue isn't about knowledge but psychology. In Buddhism, there is a concept of the five poisons of the mind, and interestingly, they can be fully applied to the crypto market.

First is greed. I see this very clearly during a bull market. People fear missing out, so they keep buying, keep increasing their positions, not knowing when to stop. They fear missing the peak but end up getting caught at the top. What is this obsession with greed, anger, and delusion that makes people lose their ability to think rationally?

Second is anger, which occurs when the market turns around. People immediately get furious. They curse analysts, blame market makers, then cut losses in despair and walk away. This is the most taboo behavior in the early and middle stages of a bull run because it usually signals the start of the accumulation phase again.

Third is ignorance, stupidity, unwillingness to learn. I meet many people entering the market without understanding tokenomics, unable to read charts, or research projects. They only listen to rumors and go all-in. That is the surest way to lose.

Fourth is arrogance, looking down on others. After making a few profits, some start to belittle others, ignore warnings, and think they are geniuses. Then the market will teach them a lesson.

Finally, is doubt and indecisiveness. Some people have good information but hesitate, buy and not buy, sell and not sell, ultimately missing both profits and losses. Or they have a good plan but lack the confidence to execute.

I realize that to survive long-term in crypto, especially during bull markets, you must control these five poisons. Not eliminate them entirely because they are part of human nature, but be aware of them and have the discipline not to be controlled by them. That is the hardest part of trading.