Investing in cryptocurrency often brings out extreme emotions in people, driving them to make impulsive decisions based on fear and greed. During market downturns, individuals become overly cautious, constantly analyzing and predicting the bottom. Conversely, when the market rises, they become reckless, buying without thorough analysis. This phenomenon stems from loss aversion and fear of missing out (FOMO), leading to herd mentality and poor decision-making.

Instead of trying to predict market extremes, traders should focus on accumulation and distribution strategies. Developing a plan based on individual analysis and gradually accumulating during downturns and profiting during rebounds is key. Sticking to the plan despite emotional fluctuations and resisting impulsive decisions is crucial.

Professionalism in trading means having a plan, discipline, and repetition. It involves continuously applying the strategy even when it feels boring or challenging. Overcoming repeated failures and disappointments is essential to success. Having a plan and executing it consistently, without being swayed by emotions or market sentiment, is vital.

Focusing on executing the plan repeatedly, rather than trying to catch the exact bottom or top, leads to long-term wealth building. Remember, the herd is often wrong in extreme situations. Staying rational, disciplined, and committed to the plan is essential. Every setback presents an opportunity to learn and improve, leading to ultimate success in cryptocurrency investing.