A friend who invests in cryptocurrencies made a lot of money last year.

During the bull market, he was posting profit screenshots in the group every day.
Later, as the market started to decline, he didn’t sell, saying he was a long-term believer.
Eventually, he began borrowing money to add to his positions.
I advised him to manage his risks.
He said:
“This time is different.”
A while ago, he invested his last bit of money as well.
Then the market dipped again.
He hadn’t spoken for a long time.
Yesterday, he suddenly reached out to me and said he wanted to sell his car.
I asked him what he was planning.
He said:
“I’m not trying to make money, I just want to break even.”
At that moment, I realized that most people, when they lose money,
are never betting on the future,
but on the past.