I analyzed all 500 responses from yesterday's post "What's your biggest regret from the 2020/2021 bull market?" to keep us from getting rekt next cycle

A lot of this is common sense, but the fact that it came from us collectively will hopefully make it more powerful and top of mind next time.

Method:

1. Capture the 500 comments into a spreadsheet
2. Filter the top level comments from the sheet
3. Ask ChatGPT to identify patterns in the responses and count the number of mentions. This means that more than one regret can be mentioned in the same comment.

Summary:

• Not taking profits (59 mentions)
• Overconfidence and greed (21 mentions)
• Investing in shitcoins (20 mentions)
• Listening to Hype and Influencers (11 mentions)
• Ignoring Red Flags and Initial Instincts (7 mentions)
• Not Having a Clear Exit Strategy (5 mentions)
• Falling for Scams or Untrustworthy Platforms (2 mentions)

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Results (edited for clarity since ChatGPT speaks like a shitty politician):

Not taking profits (59 mentions): This is the most frequently mentioned regret. Many people expressed regret about not selling or taking profits when they were in a favorable position. They held onto their investments, expecting higher returns, but ended up seeing their investments lose value.

Example: "Turned $500 into $ 27k with my very first purchase on Safemoon. Didn’t know what to expect and held it all the way down to $230….likely to go to zero."

Overconfidence and greed (21 mentions): Several comments mention the role of greed in their decision-making. They ignored signs that they should sell because they were chasing even larger profits.

Example: "Cleared 7k in algo and didn't sell, cleared 1k in Ltc still didn't sell and had 2k in Eth then bought a shiton of Dot at the top and Uniswap for 40 bucks a pop. I should've just sold bro but greed had blinded me."

Investing in shitcoins (20 mentions): There are at least 12 mentions of people investing in highly speculative altcoins (e.g., Shiba Inu, AMP) without sufficient knowledge or due diligence, which led to significant losses when those coins' values plummeted.

Example: "Not buying Doge at the BTC halfing. Forgot about it and bought some at 0.55. Happily sold 2 weeks late at 0.55. break even. Not buying Shib early enough. But I bought a shitcoin LAB V2. 500$. 2 weeks later it was 4000$. What did I? Invested another 4000. and got out at break even."

Ignoring Red Flags and Initial Instincts (7 mentions): Several comments mention ignoring initial instincts or red flags about a particular investment, often due to FOMO or following the crowd.

Example: "got involved in COSS, the exchange that gave payouts, helped fund a arbitrage bot, a liquidity bot, it was my biggest position. Ignored shit thing after shit thing, finally got to the point that I was like nah I'm done. That day the site collapsed and when I did get access, my tokens were worthless..."

Falling for Scams or Untrustworthy Platforms (2 mentions):

There are at least 2 specific mentions of people putting their trust in platforms or investments that turned out to be scams or at least untrustworthy (e.g., Celsius, FTX). These people ended up losing access to their funds or having their investments significantly devalued.

Listening to Hype and Influencers (11 mentions): Some individuals acted based on the advice of influencers or the general sentiment in online forums, including price predictions, such as Bitcoin hitting $100k., rather than conducting their own research.

Example: "That reminds me i should stop listening to the this sub.I've been burnt by ONE as well."

Not Having a Clear Exit Strategy (5 mentions): A few comments mention the lack of a clear plan for when to sell, which led to indecision during critical market moments.

Example: "Not selling the lot. Built up to 7 figures and then watched it rot. Won’t make that mistake again. Will leave the party very early if/when we get another parabolic run."