Emotions play a key role in trading and today I will share few things that I learned from my personal experiences.
Let’s start with a simple question –
Why does the price of any asset move?
Scarcity, lack of scarcity, Demand & supply, product value blah blah blah. Ask ChatGPT and it will give you some more reasons. You can say that Gold is expensive because it is scarce and has value as it doesn’t fade over the years. Same you can say about Bitcoin too. But what about Dogecoin or Shiba Inu? Product value, scarcity? How is Shiba Inu, a meme coin, among the top 20 cryptocurrencies by market cap, and Dogecoin in the top 10? How an asset that has no use case can pump generating thousands of percent profit?
The simple answer is, price goes up or down because people believe it can go up or not. If people believe in an asset, it becomes valuable.
Use cases, scarcity and product value are key factors, but most important thing is the belief of investors. If people believe in something, the asset becomes valuable. If they believe that a cartoon picture of a monkey is worth of millions
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Creating freedom through Crypto as a Community
5 Responses
Awesome! Thank you
Loving your Blogs. Thank you..
at thanks for the insight. Looking forward to part 2
@Silver Wolf BTC – I like the inclusion of the root word of “Emovere” as for me it puts a logical syntax to the article.
I am dealing with the herd mentality of a Committee at the moment and ego of sentient beings is tricksy.
I’m guilty of too many lines, this has become less with a better understanding of the TBD method although I’m not there yet with the drops and rises in a horizontal move and resets.
Thanks for including the cartoon illustration.
I am looking forward to Part 2.
Yours,
Cupcake 1/14.3,000
Loved the blog, looking forward to part 2. lol draw more lines yeah that was me, so I am clearing it all up. bunch of indicators trying to go back to basics.