Psychologically- When Bitcoin Goes Up Everybody Thinks It Will Last Forever

jseverson

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Well yeah, I mean, it's basically like wild price swings. If Bitcoin can go from $6,000 to $20,000 to a few weeks, it could go from $20,000 to $6,000 in a few weeks. Similarly, public opinion can go from "it's dead" to "omg it's the future" at a moment's notice. Bitcoin price is volatile, so it's just natural that public perception towards its future is also volatile.

Quote from: talkbitcoin on February 17, 2018, 08:46:06 AM

have you ever thought that it is possible that what you hear online is not exactly what "people" think and more like what they advertise publicly?

for example when the price is falling and traders have switched strategy from buying to shorting, they obviously want the price to drop more so they can make more profit. many will start talking about doomsday so that maybe the price goes lower and they make a little bit more profit.
the opposite is true about rises.
how effective this bullshit is, i have no clue but this is what's happening!

I have zero doubts that this is happening, but I'm pretty sure a good chunk is also genuine fear for losing their investments and/or excitement over doubling their money. I'd say it's very effective, because it gets weak hands to buy in and then dump in a hurry. The people who get swayed are always the losers.

InvoKing

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Quote from: BillCoin on February 17, 2018, 05:11:11 AM

Have you also noticed that when bitcoin goes down everybody thinks that it is going to last forever and says good words about bitcoin, and about it's techonology that is going to change the whole world.
But when the opposite thing happens, and bitcoin goes down, everybody says something about "bubble explodes".
I think that it's all in the head, and it's the same thing as someone who is in a bad condition and thinks that it will last forever, and someone who is in a high, and thinks that it will never stop.
Why do think it happens?

Anyone said Bitcoin will not last forever? It will in all imaginable cases, the only difference is its value.
I would say that I share sometimes those feelings, happy when it rises, kinda depressed when it falls but until now, i prefer to see the price in this level for quite more months, i need to collect more Wink

Baoo

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Well, in the psychology of many people when they use a successful and profitable field for them ( Like, Bitcoin ) then they hope and believe that this will last forever especially when it become too advanced in their value . Furthermore, the same thing happens when that field falls then people get scared and think the end is near and for example, in last period when there is a huge crisis in price of bitcoin, so many users have sold their amount for fear of disappearing Bitcoin and they regret now after the price has returned to progress.
On the other hand, the problem is that many people have superficial thinking and rush when an important event occurs. Unfortunately, this is common in many people.
Therefore, we must think carefully and look at the reasons and some expectations, especially when there is a crisis in value of Bitcoin .

talkbitcoin

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have you ever thought that it is possible that what you hear online is not exactly what "people" think and more like what they advertise publicly?

for example when the price is falling and traders have switched strategy from buying to shorting, they obviously want the price to drop more so they can make more profit. many will start talking about doomsday so that maybe the price goes lower and they make a little bit more profit.
the opposite is true about rises.
how effective this bullshit is, i have no clue but this is what's happening!

Slow death

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Quote from: BillCoin on February 17, 2018, 05:11:11 AM

Why do think it happens?

this is "war", on the one side we have the buyers and on the other side we have the sellers.

Buyers will use all kinds of tactics to buy the cheapest possible and sellers will use every possible tactics to sell at the highest price possible.

You do not usually go to the altcoins section? see that when the price drops a lot people speak "the price will rise and will reach the $25000 by the end of the year... according to analyst X" this happens because certain people bought when the price was $10,000 and the price fell to $6000 in order to recover and make profits the people who bought when the price was $ 10,000 should use all tactics possible to convince more people not to sell panic and convince more people to buy for the price to increase.

you just follow your wave, if you are buyer then do your part and if you are a seller then do your part, just as I said this is a War " buyer VS seller"

Mind Control

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Quote from: dothebeats on February 17, 2018, 07:38:26 AM

It's a psychological imprint from people who only knew bitcoin for weeks and think they're gods when it comes to predicting the next price movement in bitcoin.

Agreed. They act like they've known Bitcoin for years but get easily triggered by some random troll and eventually fall for the FUDs. But if you ask them what is Bitcoin, they say "Bitcoin sir is a wonderful way of earning money. I like Bitcoin sir because it is the future money and I really like Bitcoin sir."

They do not really know Bitcoin. That's the main reason for most people thinking the hype will continue forever and the drop will too.

talks_cheep

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Only greedy fools think it's going to go up forever. The law of nature states otherwise: what goes up, must come down.

dothebeats

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It's a psychological imprint from people who only knew bitcoin for weeks and think they're gods when it comes to predicting the next price movement in bitcoin. The sustained rally in 2017 is what made everyone think that price rises are forever. though many skilled traders know that at some point, the market will be severely overbought and that a massive crash/correction will follow. It happened and the market sentiment changed; FUDsters came swarming and chanting "bitcoin's bubble is popped" even though they haven't seen the worst of 2013's bubble. No matter what direction the price takes, there will always be this type of people who think that if a market shifted towards one direction, it will last forever lol. This type of people don't make money in the crypto world and are at a constant loss no matter how good their positions are.

Kylapoiss

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BillCoin

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Have you also noticed that when bitcoin goes down everybody thinks that it is going to last forever and says good words about bitcoin, and about it's techonology that is going to change the whole world.
But when the opposite thing happens, and bitcoin goes down, everybody says something about "bubble explodes".
I think that it's all in the head, and it's the same thing as someone who is in a bad condition and thinks that it will last forever, and someone who is in a high, and thinks that it will never stop.
Why do think it happens?

Topic: Psychologically- When Bitcoin Goes Up Everybody Thinks It Will Last Forever (Read 193 times)