Retail investors have historically driven Bitcoin's biggest rallies, but this cycle saw almost no retail participation. The lack of a compelling narrative, a missing alt-season and the perception that Bitcoin was merely "okay" compared with soaring AI-related stocks kept everyday investors on the sidelines.
Psychological pressures to "catch up" drive many investors toward risky altcoins and over-exposure. Recognizing investing as an art, not just a science, helps manage expectations and avoid costly mistakes.
Nang explains why intuition is a subconscious synthesis of data, the limits of out-of-sample R-squared, and how over-confidence can be dangerous.
Ray treats investing like a sport: start small, learn from masters, and keep a rule‑based playbook. Early exposure as a golf‑course caddy gave him a front‑row seat to market dynamics, shaping his lifelong learning habit. Structured decision‑making and continuous iteration turn a hobby into a disciplined investment career.