This market is an emotional one! And this has a lot to do with its speculative nature! Never have I seen an up-and-down-roller-coaster-market like Crypto before, but at the same time there are so many irrational and weak hands!
The past week, Crypto went up 10%+ one day and 10%+ down the next. On every single upward movement you hear stuff like “the rocket to the moon has been launched” while on the dumps, established Crypto Slang like “double top = bubble pop”, “we are porr” or “insert any coin here is DED” is thrown around.
For regular investors, this might all sound like gibberish, but in the Crypto world this is a powerful tool to spread FOMO (=Fear of Missing Out) and FUD (=Fear, Uncertainty, Doubt). The purpose of this is to trick weak hands into buying during upswings and then getting rid of those exact weak hands again during the downswings. This is because the weak hands are the cash cows, and they need to be milked accordingly.
So if you’re one of the losing players, don’t stop investing, your existence is widely appreciated by the community! In order to make money, somebody has to lose money, after all.
And maybe, just maybe, if you get experienced enough and can separate FOMO/FUD from rational decisions, you can profit from this ridiculous bull market as well!
Until then, good luck listening to random strangers on the internet for investment decisions! Because don't forget: you should NEVER do your own research!
Disclaimer: This post is meant to be semi-serious.