The biggest mistake that day traders make (especially crypto day traders) is believing that they have an edge over everyone else because of the charts they look at. The biggest mistake is not believing that day trading is 100% gambling, because that is exactly what it is. The only way to consistently make money over the long term is to invest based on value and fundamentals.
Exactly, I usually consider day traders as gamblers whom have decided to take massive everyday risk. With the unstable price of bitcoin, I do wonder how they make their gain; though some traders claims it very gainful. Its takes one with huge capital and heart hardened to become a day trading. Because for me alone, bitcoin trading is a perfect risk on it own. I most times soley depend on long time investment.