I have seen new investors being carried out by seeing the success of big bitcoin investors. But , this is wrong approach in my opinion. Because, I personally feel that most of the people fail and they will never share their story. So, most of the stories that new guy searches , he will find only good success stories. But that is not correct overall picture. One should keep the limitations of crypto in mind as well. What is your opinion about this ?
You're right that the cryptocurrency space is often plagued by survivorship bias where only successful stories are shared creating a distorted view of reality. This can lead to unrealistic expectations and a lack of awareness about the potential risks and limitations. New investors need to have a balanced understanding of both, the possible benefits and drawbacks of investing in cryptocurrencies. They should research thoroughly beyond just success.
Secondly, stay up-to-date with market trends and developments. Diversify their investments to minimize risk. And lastly, be cautious of unrealistic promises or guaranteed returns. Your advice is invaluable, acknowledging the limitations and potential pitfalls new investors can make informed decisions and navigate the cryptocurrency landscape with greater wisdom.