Topic: You want to make money with Bitcoin ? Here is a Tip ...Psy... - page 4. (Read 898 times)
It was not easy to earn the money in bitcoin. Frist you know about bitcoin. Bitcoin is any time to change the price. So must know the bitcoin information. Bitcoin prices are not easy to guess. So check the bitcoin price in the marketplace every day then easy to guess the market price. If the price will go down that time to invest. Bitcoin gives more profit and help to your future growth.
Its too ambigous for a serious decision like investment stuff.
Technical analysis also needed for entry the market, even its not work all the time.
Another things that needed is reading the market movement by watching the community of the project you want to invest.
Its true when community stay positive, its impact on good movement at the market too.
Technical analysis also needed for entry the market, even its not work all the time.
Another things that needed is reading the market movement by watching the community of the project you want to invest.
Its true when community stay positive, its impact on good movement at the market too.
There are lots of contributing factors that is affecting the change on the price of not just Bitcoin but also the other cryptocurrencies on the market as well making it unpredictable added by the fact that it is really volatile in nature. Considering those factors which are making a big impact on how the price changes overtime, it is hard to materialize upon doing calculations through mathematics on how will be the price going. Mostly traders and investors nowadays are putting their own strategies based on instincts and experiences dealing with trading and investment on how they will work on with Bitcoin volatility and putting themselves into taking risks to see if it will be worth it or not. Basically the contributing factors plus the way people is analyzing those on how it can affect the price makes it up into a decision putting their trust if they will invest or not
You forgot to include the media as well. Media also play an important role in crypto trust as you said in bull run.
Now, we have two types of media that's always influencimg its movement, the real cryptoedi with crypto niche such as the coin desk, cointelegraph and cryptopotato and then the other small channels that alway post about cryptocurrency even in bear Market.
The other main channels are the non crypto guys that always appear crypto on the headline whenever there is something huge in bitcoin especially in bull run just like some days ago when bitcoin dump about - 21% in a just 2 days, BBC headlines reported and said it was as result of Elon musk shares in bitcoin that's why everything fell. Just imagine
There are some big news outlets in traditional market that sometimes share about information about Bitcoin once in a while and the word btc spread brings more people into its volume, we have seen what happened some weeks about Bitcoin volume unlike in the past.
Now, we have two types of media that's always influencimg its movement, the real cryptoedi with crypto niche such as the coin desk, cointelegraph and cryptopotato and then the other small channels that alway post about cryptocurrency even in bear Market.
The other main channels are the non crypto guys that always appear crypto on the headline whenever there is something huge in bitcoin especially in bull run just like some days ago when bitcoin dump about - 21% in a just 2 days, BBC headlines reported and said it was as result of Elon musk shares in bitcoin that's why everything fell. Just imagine
There are some big news outlets in traditional market that sometimes share about information about Bitcoin once in a while and the word btc spread brings more people into its volume, we have seen what happened some weeks about Bitcoin volume unlike in the past.
You pretty much got it right tbh. Right now, cryptocurrencies mostly move based on psychologically-influencing factors. Celebrity tweets, news, little market dips etc.. they're all influencing the price strongly. But in the future, I suppose this won't be it anymore. Bitcoin is quite hard to predict because it's a fairly new market. The more it matures, the easier it'll be to find patterns and make more viable and accurate predictions.
^ Definitely right, but all of these people behind were trying to manipulate BTC price, they are desperate of making money on BTC and then, they think that it is easy for them to give influence to people who don't know yet on cryptocurrency. As of this moment, we saw a lot of high-profile people using their power to give influence and hoping they will succeed. Nevertheless, BTC price is really hard to predict even there are too many influencers out there, they are everywhere on social media, have noise on cryptocurrency price. 
I agree that psychology (emotional control) holds an important role in the process of investing and trading. However mathematics, economy and finance are also essential to being successful on the long-term in any kind of markets. All these disciplines are interlinked and if you are knowledgeable and continue to refine yourself in each one of them AND apply the concepts learnt money should be a by-product.
Works solidly in the stocks market but doesn't apply as flawlessly in the crypto-market because things move very fast here and mostly unpredictable. All you can best is actually hold but even that is hard when the market breaks down and panic sets in.Here is a tip: buy some. Move it to cold storage. Come back in a few years.
Don't trade unless you have a crypto-crystal ball. You may get luck, you may not.
Hah! I wish I did that years ago and I actually had similar thoughts too but I never really capitalized on my thoughts. Yes predicting the market is very hard but sometimes it is easy to predict like around the Chinese new year the price always goes up and once their new year ends, the price comes down by at least a small margin. You don't need crystal ball for these predictions. Don't trade unless you have a crypto-crystal ball. You may get luck, you may not.
February 26, 2021, 05:37:03 PM
That's pretty much basic stuff, if only everything was that simple. Naturally, when some significant event takes place (e.g. some company denies crypto-related contract causes the price to drop, or an influencer expresses an opinion in support of crypto causes the price to increase, etc.) there will be a certain trend. If the price is dropping - it will keep dropping, if the price increases - it will continue in that fashion for a while. But, the truth is that in most cases you can't predict these kinds of events, they occur sporadically.
Sometimes you can wake up in the morning and see that the price has changed while you were sleeping. And when the events have already occured if you don't want to lose any money - it would be unwise to sell, even knowing that the price will keep lowering. One has to either seize the moment and purchase even more or simply hold.
So, in the end, that kind of knowledge, understanding the psychology isn't really helpful, when all the major price runups occur unexpectedly and for different reasons.
Sometimes you can wake up in the morning and see that the price has changed while you were sleeping. And when the events have already occured if you don't want to lose any money - it would be unwise to sell, even knowing that the price will keep lowering. One has to either seize the moment and purchase even more or simply hold.
So, in the end, that kind of knowledge, understanding the psychology isn't really helpful, when all the major price runups occur unexpectedly and for different reasons.
February 26, 2021, 02:43:36 PM
You pretty much got it right tbh. Right now, cryptocurrencies mostly move based on psychologically-influencing factors. Celebrity tweets, news, little market dips etc.. they're all influencing the price strongly. But in the future, I suppose this won't be it anymore. Bitcoin is quite hard to predict because it's a fairly new market. The more it matures, the easier it'll be to find patterns and make more viable and accurate predictions.
February 25, 2021, 08:25:45 PM
Well, I always thought trading handbooks and such are a huge bullcrap and are not really something you should expect to teach you on how to be the best trader you can be. So it is best to just learn and atudy your past trades and improve upon them, because nobody in the upper echelons will tell you how they got there.
I agree that psychology (emotional control) holds an important role in the process of investing and trading. However mathematics, economy and finance are also essential to being successful on the long-term in any kind of markets. All these disciplines are interlinked and if you are knowledgeable and continue to refine yourself in each one of them AND apply the concepts learnt money should be a by-product.
Basically self-study. Learn by yourself, study by yourself, if need be, try your hardest to manipulate the variables to your liking. That is how you win in the industry. 
February 25, 2021, 06:03:25 PM
After years of working with crypto i kind of figure it out how it moves ....
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
Every market price movement has a tangible and rational explanation. Price trends and market shifts are never randomized or unexplainable.
When prices trend up, it means there is significantly more purchasing volume in contrast to selling volume. When prices decline, the opposite is true.
Sharp movements upward mean whales are buying in high volume with big money. Sharp movements downward mean whales are selling in high volume with big money.
Everything can be explained by buying or selling. The only real question is motive. Which can be explained by experience and observation of market trends correlated with knowing and learning the history of markets.
February 25, 2021, 11:35:13 AM
when the price goes down they trust it less.
This is the time that you start getting the good and support vibes for bitcoin when it is getting bull but it gets all the bad vibes when it starts returning back and that is the big question.
Investors need to know it has to drop too at a point.
February 25, 2021, 06:43:31 AM
I agree that psychology (emotional control) holds an important role in the process of investing and trading. However mathematics, economy and finance are also essential to being successful on the long-term in any kind of markets. All these disciplines are interlinked and if you are knowledgeable and continue to refine yourself in each one of them AND apply the concepts learnt money should be a by-product.
February 24, 2021, 06:25:25 PM
After years of working with crypto i kind of figure it out how it moves ....
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
While I understand what you mean, I don't believe that is all there is to it. It is true emotions play an important role in the crypto world especially in trading. It is, however, not the only thing required to make the most of the market.
One must understand that fundamental analysis and technical analysis are also very important aspects of trading that shouldn't be underestimated if one intends to make profits.
February 24, 2021, 11:05:31 AM
Here is a tip: buy some. Move it to cold storage. Come back in a few years.
Don't trade unless you have a crypto-crystal ball. You may get luck, you may not.
Don't trade unless you have a crypto-crystal ball. You may get luck, you may not.
February 24, 2021, 11:00:43 AM
After years of working with crypto i kind of figure it out how it moves ....
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
I don't think you need to burn those books. Books actually teach you about the basics of the market. People think that only theoritical knowledge of trading can take them places but the reality is that bitcoin and crypto is altogether a new space. A space which has no regulations. There are different set of practices that this market have. You have to tweak the traditional methods and practices to find a holy grail which works for you. Moreover if you think people have been losing money in cryptos trust me I have seen many stock market traders coming to crypto and earning huge sums of money by tweaking their old technical analysis just a little here and there. It's all about experience which you can only get with time. Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
February 24, 2021, 10:53:16 AM
After years of working with crypto i kind of figure it out how it moves ....
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
Burn your math / investing / finance and economics books if you want to invest in crypto
Crypto value and volatility is based on human psychology ...
If you understand human psychology / sociology etc you will become very very rich...
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
Crypto is irational /emotional like humans .It's a indicator of or mood.
That's all to it ...the rest is just Fugazzi,
To be honest we could change the word crypto to stocks and it would still be true. Humans are trading all kinds of financial assets and will always follow patterns. Once enough people statt selling most of the others will follow. We humans are herding animals that try to find validation in others. That is also why chart analysis has been working for a long time.
February 24, 2021, 10:26:45 AM
I'm pretty sure that's what the fear and greed index tries to gauge: the amount of emotion attached to a certain asset during a particular phase/scenario. It's actually not a secret that most of crypto's movements are induced by psychological reactions from people that are invested in it. It's just that people--especially in the traditional asset classes who are now into crypto--discredit this fact and try so hard to validate TA and instill that such analysis helps over analyzing what people has in mind and in emotions at that current time.
Totally agreed with you. Also, I saw price always pump from psychological support and dump from psychological resistance at least for a little while. That's created a good opportunity for scalping for day traders.
The human psyche is compelled to insist its decision the moment the spur of emotions get the best out of our logic. It rings true in most investments, and not only crypto, that's why most seasoned traders often advise us to distance our emotions with our money and investments.
In most cases, emotion creates panic and forces us to make wrong decisions. I have lost some opportunity to make big money through crypto because of fear. So better be avoided emotions and always stick to your plan.
February 24, 2021, 10:08:01 AM
I'm pretty sure that's what the fear and greed index tries to gauge: the amount of emotion attached to a certain asset during a particular phase/scenario. It's actually not a secret that most of crypto's movements are induced by psychological reactions from people that are invested in it. It's just that people--especially in the traditional asset classes who are now into crypto--discredit this fact and try so hard to validate TA and instill that such analysis helps over analyzing what people has in mind and in emotions at that current time.
The human psyche is compelled to insist its decision the moment the spur of emotions get the best out of our logic. It rings true in most investments, and not only crypto, that's why most seasoned traders often advise us to distance our emotions with our money and investments.
The human psyche is compelled to insist its decision the moment the spur of emotions get the best out of our logic. It rings true in most investments, and not only crypto, that's why most seasoned traders often advise us to distance our emotions with our money and investments.
February 24, 2021, 09:56:55 AM
quite a rational analogy, but not completely, we also forget that there are some experts who are precise in analyzing bitcoin movements. So everyone has a possibility in terms of crypto trading. So far the analogy you have tried to give, is very suitable for what we are experiencing at this time. quality depends on the quantity value of an item.
only partially, and not all of it like that.
only partially, and not all of it like that.
February 24, 2021, 09:22:16 AM
Crypto is based on trust ... Sure there are pump and dumps / scams etc ... But at the end crypto is based on trust.
So when the price goes up people trust it more,when the price goes down they trust it less.
So when the price goes up people trust it more,when the price goes down they trust it less.
Well... that's not how it is. Initially users should know that bitcoin's price is unstable. If they will accept that as a threat or weakness, then they should not invest in it. Many people nowadays are seeing it as a potential, and not gonna lie here, that's a high risk if they will go for it. So it doesn't matter if the price goes up or down, the moment they have invested in bitcoin, they should have made up their mind and trust it.
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