The longer you trade cryptocurrencies, the more lazy you become about researching new projects. There are several main reasons for this:

1. Fatigue from experience

1. Information overload fatigue

• In the process of cryptocurrency trading, you are exposed to a large amount of project information for a long time. As time goes by, facing the continuous emergence of new projects, investors will feel information overload. For example, when you first enter the cryptocurrency market, you may be curious about the white paper, team introduction and other materials of each new project and read them carefully. But after years of reading similar materials of hundreds of projects, you are prone to fatigue and boredom, and thus are too lazy to study new projects in depth.

2. The impact of failure lessons

• After experiencing some failed investment projects, investors may become skeptical and resistant to new projects. If they have suffered losses in the past due to believing in the propaganda of new projects, they will lack enthusiasm to explore new projects in depth, fearing that they will fall into scams again or make wrong investment decisions.

2. Market environment factors

1. New projects are highly homogenized

• With the development of the cryptocurrency market, many new projects have shown a high degree of homogeneity in terms of technology, application scenarios, business models, etc. For example, many new projects claim to be decentralized finance (DeFi) projects based on blockchain technology, but their actual functions and operating models are similar to those of existing projects. For cryptocurrency veterans, seeing these familiar new projects, they will feel that there is no need to study them in depth.

2. The divergence between market hype and real value

• In the cryptocurrency market, there is a lot of market speculation. New projects often attract investors through exaggerated publicity, celebrity endorsements, etc., while the actual project value may not be high. Investors who have been speculating in cryptocurrencies for a long time have gradually realized the deviation between market speculation and real value, so they are no longer willing to spend energy to study new projects that rely on speculation, because they know that the appearance of these projects may be very confusing.

3. Cost-effectiveness considerations

1. Time cost and uncertainty of benefits

• Researching a new project requires a lot of time, including understanding the technical principles, team background, market prospects, etc. However, even with in-depth research, the returns from investing in new projects are still very uncertain. For cryptocurrency veterans, they are more aware of the imbalance between time cost and returns, so they tend to focus their limited time and energy on projects that they are familiar with and have a certain investment foundation, and are too lazy to research new projects.

2. Weighing the opportunity cost

• When investors spend their time researching new projects, they may miss opportunities to trade existing projects. After long-term investment practice, veteran cryptocurrency traders have a certain grasp of their existing investment portfolios. They will weigh the potential benefits of researching new projects against the opportunity cost of operating on existing projects. If they think the opportunity cost is too high, they will give up researching new projects.

4. The influence of psychological factors

1. Increased risk aversion

• As the time spent on cryptocurrency trading increases, investors have a deeper understanding of risks. They may have experienced large market fluctuations, project failures, etc., and thus become more risk-averse. For new projects, due to lack of sufficient understanding and experience, its risks are often difficult to accurately assess. In contrast, investors are more inclined to stick to projects they are familiar with, believing that the risks of these projects are relatively controllable, and thus are too lazy to study the uncertain risks brought about by new projects.

2. Decision fatigue

• In the long-term process of cryptocurrency speculation, investors need to make various decisions constantly, including when to buy, sell, adjust positions, etc. Such frequent decision-making will lead to decision fatigue, making investors lack the motivation to conduct in-depth research and analysis when facing new projects. They are more willing to rely on past experience and existing decision-making models, and are unwilling to spend energy to explore new investment opportunities.

5. Solidification of the knowledge system

1. Form a fixed investment mindset

• Investors who have been speculating in cryptocurrencies for a long time tend to form their own fixed investment thinking patterns and analysis methods. These methods may have achieved certain success in past investments, making investors dependent on them. When faced with new projects, they may find it difficult to analyze and understand these projects with their existing thinking patterns, which can lead to resistance and make them too lazy to conduct in-depth research.

2. Lack of sensitivity to new technologies

• As time goes by, cryptocurrency veterans may lack sensitivity to the development of new technologies. Blockchain technology continues to evolve, and new technological innovations and application scenarios continue to emerge, but cryptocurrency veterans may find it difficult to quickly understand and accept these new technologies due to the solidification of their knowledge system. For new projects based on new technologies, they will lack the motivation and interest to study them.

6. The influence of social circles

1. The limitations of homogeneous social circles

• Crypto traders usually form their own social circles to exchange experiences and information with other crypto traders. However, if the members of this social circle are all people who have been speculating in crypto for a long time and everyone lacks interest in new projects, then this atmosphere will affect each other and make individuals too lazy to research new projects. People are more inclined to communicate on familiar topics and projects, and are unwilling to explore new areas.

2. Lack of external motivation and new ideas

• If there is a lack of people in their social circle who are passionate about new projects or external incentives, it will be difficult for veteran crypto traders to get motivated to research new projects. Without the input of new perspectives and information, they will always stay in their comfort zone and are unwilling to challenge new investment opportunities. On the contrary, if there are people in their social circle who are actively exploring new projects and sharing new insights and opportunities, it may stimulate the research interest of veteran crypto traders.

To maintain enthusiasm for research on new cryptocurrency projects, we can start from the following aspects:

1. Adjust your mindset

1. Overcoming fear

• Acknowledge that past failures are just part of the investment process, not the inevitable result of new projects. Treat each new project as a fresh start, and don’t let the shadow of the past hinder your exploration of new projects. For example, every time you research a new project, remind yourself not to throw the baby out with the bathwater, but to look at its potential opportunities with a positive attitude.

2. Stay curious

• View the cryptocurrency field as an industry that is constantly developing and innovating, and stay curious about new technologies, new application scenarios, and new business models. Pay attention to the application and expansion of blockchain technology in different fields, such as its integration into emerging fields such as supply chain finance, digital copyright protection, and the Internet of Things. Stimulate your curiosity by reading cutting-edge industry information, participating in technical seminars, etc., and treat each new project like exploring unknown treasures.

2. Optimization Research Methods

1. Establish an efficient research framework

• Develop a standardized research process, from basic project information (such as white papers, team background) to in-depth technical analysis, market positioning and competitive advantage analysis. This can improve research efficiency and reduce unnecessary information interference. For example, quickly screen out potential projects first, and then conduct detailed due diligence on these projects to avoid spending a lot of meaningless time on each new project.

2. Focus on key indicators

• Identify several key research indicators, such as the innovation of the project, the industry experience of the team, the activity of the community, the pain points of market demand, etc. By focusing on these indicators, the value of new projects can be evaluated more specifically, rather than being overwhelmed by a large amount of information. For example, for a new project claiming to be decentralized finance (DeFi), you can focus on whether it has innovations in terms of lending interest rate models, fund security mechanisms, etc.

3. Keep up with market trends

1. Participate in industry events

• Actively participate in offline activities in the blockchain and cryptocurrency industry, such as industry summits, project roadshows, technical exchange forums, etc. In these activities, you can directly communicate with project teams, industry experts and other investors to obtain the latest market information and project dynamics. For example, in a project roadshow, you can ask questions on the spot, gain an in-depth understanding of the project's operating model and development plan, and also feel the market's heat and trend.

2. Subscribe to quality news sources

• Subscribe to professional blockchain media, industry research reports, blogs of well-known analysts, etc. These high-quality information sources can provide in-depth market analysis, project evaluation and interpretation of industry trends. For example, spend some time every day reading reports from professional media to understand the latest situation of new cryptocurrency projects around the world, as well as the technological innovations and market opportunities behind them.

4. Setting up incentive mechanisms

1. Set research goals and rewards

• Set short-term and long-term goals for yourself to research new projects, such as researching a new project every week or finding a potential investment project every month. When you reach these goals, set yourself corresponding rewards, such as buying an item you have long admired or enjoying a leisure trip. This reward mechanism can increase your enthusiasm for researching new projects.

2. Create a portfolio rebalancing plan

• Develop a portfolio adjustment plan based on the results of researching new projects. If a new project is found to have potential, and it is successfully included in the portfolio and generates profits, then this is a recognition and incentive for your research work. For example, you plan to allocate a certain percentage of the portfolio to new projects discovered through in-depth research. When these projects bring profits, you will be motivated to research other new projects more actively.

5. Join a positive social circle

1. Join the investor community

• Find and join active cryptocurrency investor communities, which include both experienced veterans and enthusiastic novices. In the community, everyone can share their research results, insights, and investment strategies on new projects. The collision of different perspectives and ideas can stimulate your interest in researching new projects. For example, participate in project discussion activities in the community, share your research experience, and get inspiration from others.

2. Interact with industry experts

• Take the initiative to establish connections with experts and opinion leaders in the blockchain industry, and interact with them through social media, online forums, or offline events. Their expertise and unique insights can broaden your horizons, allowing you to have a deeper understanding and knowledge of new projects, thereby maintaining your enthusiasm for research. For example, ask experts about the technical difficulties or market prospects of a new project, and continuously increase your attention to new projects during the communication process.