RE: Steemit Crypto Academy Contest / S18W3: Psychology and Market Cycle
Very well written and comprehensive write up. It was very engaging and cohesive . Here are my reflections on few points;
Optimism is the first step.
Yeah, that's true. Investors start with a positive attitude, expecting good results. They feel hopeful about the market's potential and are eager to invest in new opportunities.
Some people take mistakes in this phase because they believe they can't lose.
Absolutely true. When people are too confident, they make bad decisions, thinking the market will always go up. They might ignore risks and invest too much, believing they're invincible.
This large-scale sale could lead in even lower prices.
That's correct. When many people sell at the same time, it can make prices drop even more. The increased supply and lack of buyers push prices down further, worsening the market situation.
Believing that 'this time it's different' can lead investors to make poor choices.
In my opinion, that's absolutely true. Thinking that market rules don't apply anymore can make people make bad decisions. They might ignore past lessons and common risks, leading to overconfidence and significant financial losses.
Congratulations, your comment has been successfullycurated by our team via @𝐢𝐫𝐚𝐰𝐚𝐧𝐝𝐞𝐝𝐲 at 5%
Thanks my friend for your feedback,appreciated .