**The True Portrait of Retail Investors**

Let's start with a phenomenon: too many people around me meticulously save up for discounts on takeout during the day, only to blow several months' salary on a project whose white paper they haven't even finished reading. When shoes wear out, they can still be worn until the sole comes apart, but when a new coin is launched, they go all in—this isn't a psychological issue, it's a collective illusion. In 2025, all altcoins will shrink in value, but everyone still believes they are the chosen ones to hit the next double or nothing coin. Ironically, those who got their pants stolen last year by VC coins are now trusting the "inside information" in online groups again.

**Monitoring the Market Becomes a Second Profession**

This is the routine of crypto enthusiasts: groggy in the morning, scrolling through their phones, asking, "Has BTC reached 80K? Is ETH salvageable?" At night, they can't sleep without checking the candlestick charts. An idle fitness membership for half a year, friends' gatherings always postponed, even walking the dog requires timing to wait for a breakout. Interestingly, the data clearly shows—low-frequency trading actually yields higher returns than frequent trading, but no one believes it; everyone wants to turn things around with swing trading.

**Offline Silence, Online Frenzy**

This is a strange phenomenon in crypto social circles: no conversation when meeting face-to-face, but online groups are full of bragging. Top ten WeChat crypto groups, each member claiming to hold over a billion in Bitcoin. The chat topics range from Elon Musk's space plans to Federal Reserve's liquidity injections. If you lose money, you can only stay silent and follow the trend, liking posts as if "bigger picture" will somehow reverse the situation. But the truth in 2025 is that institutional funds are already treating Bitcoin as a "digital asset" for allocation, while retail investors are still immersed in yesterday's myth.