Jason Leo, identified as a crypto whale, said he is rethinking discipline and risk management after two contrasting trading experiences. During the previous market cycle, he made about $100 million in profits but held to his trend view for too long and failed to cut losses after the market reversed, resulting in a sharp drawdown. In the current market, he expected Bitcoin to reach $74,000 and viewed volatility along the way as part of the advance. As the price neared that target, however, memories of past losses made him more cautious and prompted him to exit early. Bitcoin ultimately reached $74,000 without him remaining in the trade. Leo said his earlier mistake was excessive confidence in trends, while his latest mistake was abandoning a trend too soon out of fear of repeating the past. He concluded that the hardest part of trading is not defeating the market but escaping fixed beliefs formed by prior experience.