Recently, I have been scrolling twitter a bit more frequently than usual in the search for interesting crypto thoughts that can make me think outside the box - but I have stumbled more often than not onto a very interesting phenomenon - the hindsight bias.
Hindsight bias, also known as the knew-it-all-along phenomenon is the common tendency for people to perceive past events as having been more predictable than they were. The interesting thing about this bias is that even though it is a wide-known fact that it exists and we are exposed to it nonstop, it seems to have a very low impact on not falling victim to it.
For it is thanks to this hindsight bias that a lot of crypto influencers are trying to shill coins and meme-coins into their twitter feeds so that mindless people buy into and dispose of their earnings.
That is why the golden rule is the following: Always do your own research.
And no, browsing through twitter is not research. Browsing through twitter is just a way to get a grasp of how other people think - do not ever take any financial advice for granted if it comes from a tweet from a crypto individual or influencer.
In hindsight, this is quite simple advice to follow, no? 馃槃馃槃
Enjoy the weekend!