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What are some common psychological traps in cryptocurrency trading

Sure! Here are three different responses to that question:

**Response 1:**

One big psychological trap is FOMO, or the fear of missing out. When you see everyone talking about a coin that's skyrocketing, it’s super tempting to jump in without doing your homework. Another trap is confirmation bias—only looking for info that supports your gut feeling and ignoring the red flags. Lastly, there's loss aversion; people often hold onto losing trades way too long because they can’t stand the thought of realizing a loss.