Something I noticed is I see a lot of people saying something like this: "I invested in this coin,
it looks good." It's a very common phrase when someone gives a recommendation around here.
It's telling when someone says "that one looks good" instead of saying "I know that one is good"
It like when you ask your friend a question and they say "I think so" instead of "I know so". It's away of distancing yourself from your answer to mitigate any damage in case you're wrong.
It also strikes me strange when someone's got a portfolio with 10 or more different cryptos, I just think that's plain wrong. Ideally you should have up to 3 cryptos (personal opinion), and I've explained why in this thread
https://bitcointalk.org/index.php?topic=3627234.0 but the takeaway is that cryptos are risky business. It's not good to expose yourself more than you have to. It's like staying in the casino longer than you need to.
If you were offering a sniper rifle or a shotgun to someone, the person with his/her eyes wide open would choose the sniper rifle. The person with their eyes closed would choose a shotgun.
Evidence-based research is the only way to go.
I agree with your points and i believe that in crypto markets, speculation is a very common tool which is misued by many newbie and experienced traders. The only way to succeed and be confident about your investment is to really research on the what the company/project is planning to and is currently doing. This means understanding the problem they are solving and their solution to the problem as well as digging deeper and actually looking at their developers, work office, making phone calls, and even talking directly to the team.