If you ever feel a need to doubt your instincts and listen to what the traditionalists tell you about the crypto space, or anything else for that matter, just ask yourself this - How many times have they been wrong before? You will realize the frequency of their inaccuracies so fast it will likely upset you.
We sometimes hold too much of a reverence for the experts, forgetting that most of what we work with are sentiments and assumptions. How many times for instance do the World bank have to update their economic growth forecasts for countries in the aftermath of one unforeseen economic shock or the other.
Anyone calling the crypto space a gamble should also take an objective look to what is going on in the World of traditional financial investing. Nations are forced to make adjustments due to rising inflation and currency value fluctuations, leaving their own effects on the traditional markets as well as people's purchasing power.
But of course we have all mastered the act of sounding self assured, and even getting cocky while at it. Take for instance price analysts in the crypto space who fail time and again to predict prices despite all the fancy tools and big words, but sound even more confident each time they give the next prediction.
If the experts did know what they were doing and were 100% accurate and reliable, then we wouldn't be plagued with many of the economic problems we currently face such as high inflation, unemployment, devaluation, etcetera. Theoretically we should be in much better positions as a result of our knowledge.
Realizing that nobody has things figured out completely when it comes to finance is very important in our own personal decision making process. It helps us seek out objectivity and make decisions based on information and instinct rather than the opinions of others.
It does not mean we shouldn't listen to the opinions of others or they cannot be right. I have missed the opportunity to make a fortune that way in the past. Yet we must not give our decision making powers to others as we alone bear the consequences for potential losses.
Conclusion
Even in the crypto space, I am still wary of expert opinions when it comes to decision making. Perhaps it is why some people strike gold faster than others rather than share luck. Therefore we shouldn't take the conviction of others no matter how highly placed to be set in stone. Always do your own research and you stand a chance of finding gems in hidden places.
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