Used when an overestimation leads to bad results or disappointments. They overestimated their team's chances and ended up losing their money.
Pro Tip 2/3
Common Mistake
Often used in contexts where people predict or judge incorrectly, especially in skills or results. He overestimated his knowledge of the subject and failed the exam.
Pro Tip 3/3
Subjectivity
Emphasizes a personal belief or opinion, not an objective fact. Fans tend to overestimate the importance of their favorite player.