You want to make money with Bitcoin ? Here is a Tip ...Psy... - page 5.

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legendary

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Quote from: spy100 on February 23, 2021, 04:31:06 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,

Where is the tip? You've written a lot of words but no tip. Yeah crypto is irrational but the same as the stock market, as Newton said, he: "could calculate the motions of the heavenly bodies, but not the madness of the people" regarding the stock market.

The best way to make money in Bitcoin is just to buy and hold. If you don't have enough money to buy at once, just DCA, buy and hold buy and hold, wash rinse repeat.

oHnK

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Maybe in you this might work but not for everyone. You're just saying an unfounded opinion. How can studying psychology make you profitable in crypto. In fact, the demand and supply on which crypto is based is not only influenced by psychological aspects. There are many factors, for example if the Bitcoin price is at the top it means that there are more requests than offers, and if that happens for a long time. How can you make up your mind?

mu_enrico

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Quote from: spy100 on February 23, 2021, 04:31:06 PM

After years of working with crypto i kind of figure it out how it moves ....

We have Mr. Buffett Jr. here #claps
It's so generous of you, you shared the million-dollars secret!

Seriously, trading is a bad way to earn Bitcoin. Signature campaigns and other businesses/services-related will give you Bitcoin with more certainty.

AicecreaME

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You can't just earn money that easily when you know psychology stuff about Bitcoin. It's much harder when you're already in the situation in where green and stop loss are fighting with each other, and most of the time greed always wins. What works the best for making money in cryptocurrency is good technical analysis and contentment of how much you could make in a day.

You would rather have small profits every day but surely rather than high risk high reward but not sure profit.

Snappycoco

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I agree with some of your points specially with the emotion part. The need for the coins is one of the main reason for its pump. It is indeed one of the most complex way of making money but I therefore disagree that it is based on trust. One should understand that cryptocurrency is a technology for the future.

youdacapt

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GOD is TRUE

Quote from: spy100 on February 23, 2021, 04:31:06 PM

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.

In a more realistic sense; crypto currency markets are based on emotions of different buyers and sellers; this does not mean that the market is emotional based. AS a trader; trading based off emotions means one thing (rekt). Also pumps and dumps are treated business wise; People hop in to buy more during the dump; and sell in profit in pumps; which means that people trust the dump more.

amishmanish

legendary

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I guess this latest batch of frustrated noobs and novel "investors" is slowly finding its voice again.

Volatility based on sentiments is true for every market traded commodity. Price is simply what the last person is willing to sell at and next person is willing to buy at. It is based on sentiments which in turn are based on performance company or usage of the underlying asset. All the world markets are based on sentiments. Bitcoin is more so because it is still very young and hasn't completely found acceptance. Individuals love it but somehow, as a collective, everyone is afraid of what it might expose.

Frankly though, We keep repeating this here. Nobody should invest or buy into bitcoin or any other crypto SIMPLY for the price appreciation if you don't understand or find the technology and its implications fascinating. If it does not open your mind and eyes to ideas, it is not for you.

Obito

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Quote from: davis196 on February 24, 2021, 02:00:39 AM

People are emotional creatures,so yeah,the markets are also very emotional. Grin

There is a saying that trading is more on psychology rather than predictions. So what OP is saying has been passed around the financial circles for a long time now and I don't think that it is enough to make money with bitcoin, you need a serious money because you will lose a lot before you can win something big, burning your books about trading in stocks will not do you good because most of the things there apply to crypto in some way.

davis196

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Damn,you are a genius.You should win a Nobel prize in economics. Grin

So,what's the tip?Buy more crypto,when people don't trust it and sell it when people trust it? Grin

How much money have to made,by applying your genius theory in crypto trading?Are you the crypto Warren Buffet?
The same theory about emotions can be applied to any other financial market-stocks,FOREX,commodities,etc.
People are emotional creatures,so yeah,the markets are also very emotional. Grin

mersal

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People who ignored to invest on cryptos years back are regretting now after seeing that price of bitcoin went more than 50K and this is how a common man's psychology works. To invest on cryptos and any other assets which are highly volatile needs to have deep analysis and enough affordable capital and some backup plan if the investment goes in the wrong way.

cryptoaddictchie

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Fully Regulated Crypto Casino

Can based on that but did you actually earn a lot from using that strategy? Maybe ti's working and how does this mood change and can be predicted. What I do notice though is the effect of some fundamental news that literally working depends on the caliber of content shown to public. Like the tether fud, with this the market undergone a roller coaster ride and now its been settled then market becomes green suddenly. But of course it has different point of view on traders mind.

Bttzed03

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https://bitcoincleanup.com/

Quote from: spy100 on February 23, 2021, 04:31:06 PM

~ So when the price goes up people trust it more,when the price goes down they trust it less.

Comparing crypto to other stuffs like shoes or clothing eh? If it's expensive, they assume it has better quality. If it's cheap, they say the material used are also cheap. The logic applies but it's probably not the best way to make more money/bitcoin.

Darker45

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You already figured it out until the next surprise which, by the way, comes one after another in short intervals.

You are right but it is easy to say when you are several steps back. Try to get into it very closely like putting money where your mouth, get into day trading, and so on and you will realize it is a lot easier said than done.

Taking off from your statement, what made people trust Bitcoin more despite the fact that its price already went spiraling down from $20,000 toward the $3,000 rock bottom? Your statement may have some truth in it but they're not absolutely right. Because if price is the only indicator of trust, I'm afraid everything about Bitcoin's price movements are straight lines, which isn't the case actually.

maxreish

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While I know psychological is also one of the tools we should consider in trading since emotions always there whenever the price of bitcoin goes up or down. But together with the other tools like technical analysis and fundamental analysis, we can actually make a good profit by using those.

I understand your point. All those trading movements like trading volumes, etc. are associated with emotional factors. When the price goes down, fear and panic existed and traders tend to sell their coin. And vice versa. We should basically should learn and understand how to react with those pyschological actions in trading.

jackg

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https://bit.ly/387FXHi lightning theory

Crypto at the moment looks a lot like the way to root out the adaptive investors from the slower ones. Mellenials and gen z are driving the price imo in most of the tech areas and it should be a good rebalancing if pension schemes join late as younger people have a much lower share of overall wealth these days than the older generations did at the tame age (7%:30%).

Learn something new about the fundamentals while you're watching the price drop. Experiment with the lightning network or read a whitepaper on bitcoin or cryptocurrency in general to keep yourself happy with your investment.

spy100

sr. member

Activity: 658

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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,

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