The effects of social feeling on cryptocurrency reviews **
While the world of cryptocurrency continues to grow and develops, one of the most important factors that influence their value is the social mood. The psychology of the money, a concept that is characterized by economist Robert Kiyosaki in his 1997 book “Rich Dad Poor Dad”, shows how the units of people can affect financial decisions on their purchasing power and their investments.
The psychology of money
The social mood refers to the collective emotions, opinions and prejudices that influence the perception of an investment or wealth class by people. It is powered by a complex interplay between cognitive distortions, emotional reactions and cultural influences. In the context of the cryptocurrency, the social mood can have a profound influence on the value.
The rise of FOMO (fear of missing)
An important driver of social feeling in cryptocurrencies is the fear of exchanging (FOMO). The fear of missing a new investment option or experiencing financial losses due to market volatility creates a feeling of urgency and fear, which causes investors to take brave measures. This can lead to fast price increases, since individuals try to use the perceived possibilities.
The role of social media in the design of feeling
Social media platforms have become an essential instrument to spread information about cryptocurrencies and other investments. Platforms such as Twitter, Reddit and Social Media groups have made it possible to share their thoughts, opinions and experience with others and achieve a snowball effect that can increase the market mood.
The effects of influencers and celebrities **
Influencer marketing has become popular in the cryptocurrency area, and many successful investors and dealers use their influence to promote cryptocurrencies for their followers. Confirmation of a well -known prominent or a pioneer in the industry can also have a significant impact on the social mood.
Examples of successful cryptocurrency feelings manipulation
Several top -class cryptocurrency events have manipulated the potential for a social mood:
- Bitcoin’s 2017 Bull Run : After the publication of the Bitcoin WhitePaper, many investors and dealers began to buy the asset and promoted their quick price increases from around $ 1,000 to over 19,000 dollars.
- Ethereum’s 2020 Rally : The introduction of new characteristics such as EIP-1559 and the increased demand for Ethereum smart contracts led to a significant price boost in 2020.
- Cardanos 2018 X17 RFP : The publication of the X17 RFP, with which Cardano was able to sell its protocol development assets to investors, was accompanied by positive social media sums and contributed to increasing the value of the financial value.
The risks of unhealthy feelings
While a healthy social feeling for the cryptocurrency market can be an advantage, an unhealthy or excessive aggressive mood can be too:
- price bubbles : excessive optimism and Fomo can create price bubbles that are difficult to burst.
- Market volatility : The reinforcement of the negative feeling through social media can lead to a quick drop in price.
- Investorism : unhealthy mood can also lead to poor investment decisions, since investors may focus on short -term profits rather than long -term sustainability.
Diploma
The social mood plays an important role in the design of the values and reviews of cryptocurrencies. While a healthy social mood for growth and adoption is of essential importance, an unhealthy or aggressive mood can have negative consequences. While the cryptocurrency market is developing, it is important to understand how the social mood influences its evaluation and takes steps in order to maintain a balanced perspective.
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