The irrational love of losers for their losses.
I saw it for many years in the stock market. When someone bought a stock and it went down, the buyer convinced themselves that it was a good trade but that it required time/patience.
The more the stock fell, the more convinced they were not to sell "to avoid losing."
That is a ridiculous concept that will only bring you more losses.
Your balance is what you see, not what you had when you bought.
The difference between "loss" and "unrealized loss" only matters when it comes to taxes.
This is multiplied in the world of cryptocurrencies as it is much more volatile.
But if you bought something for 100 and today it is worth 80, you have lost 20 (whether you sell or not).
The important thing is whether it will be worth 90 or 70 tomorrow.
If you think it will be worth 90, hold on. But if you think it will be worth 70, sell and look for something you believe will go up.
I have seen "lovers" watch their investment drop by 90% and never recover or even see the asset disappear.
The phrase "I won't sell until I recover" can be a sentence to lose it all.
Sometimes a timely withdrawal is a victory.
Keep feelings away and your ego out of the market.
The important thing is to win in the long term, not to try to avoid feeling like a loser in the short term.