Sample of Market Participant Psychology


I can't pretend to know market psychology well. But for those who do, this is a kind of behavior they probably consider.

A short while ago I received a notification on my phone that Etherium was dropping more than 10% in the last 24 hours.

What did I do?

I went to the kitchen to have lunch. And no, it wasn't something compulsive! :)

To better understand the situation, there is some Etherium in my portfolio.

And yeah, I had a look at the markets when I got back, and they looked like this:
image.png

Not a pretty picture, especially considering the high volatility we had recently, but we need to take into consideration this comes after a 4 months strong rally, which took bitcoin from 3500 to almost 14000.

A correction was bound to happen!

And let's be perfectly honest, what would you choose between a potential 30%-40% correction after a 400% rally for a month or two or a crypto winter for two years? Right, I thought so!

As for STEEM, I just checked for the first time in weeks the price, since I was doing this post about crypto prices. I hear about it often though, from people concerned or who write to those concerned about price evolution lately. Seems to be around 28 cents, still.


Comments 17


This is no surprise, especially given the parabolic nature of the BTC rise. Everything has gone twice too fast on the up with little consolidation time in between blasts upwards. Weak hands and those new to the space will make this correction far messier then it needs to be with screams of DOOOOOOOM echoing through the rafters. Just take an antacid and have lunch.

14.07.2019 15:01
2

Yep, I warned some time ago, I think BTC hadn't even crossed 7k at the time, that it is rising way too quickly and sharp. Not that I'm an investment guru of any kind, but it was obvious.

14.07.2019 15:08
0

I'm thinking to buy more Ethereum today. It might get to $220 as well but this price range seems a good deal. Maybe I'm lucky and I can double my money in tow weeks or so. I will also try Binance's buy with card option.

14.07.2019 15:42
2

Thinking at the likely rally in the future, this might be a good price. But it's your choice, obviously. I won't buy more, which is likely a mistake, but I'd like to control the exposure to crypto as well.

14.07.2019 15:57
0

I just bought one with Binance to see how it works and the price is pretty premium while the buying process is also complex. Wonder how long it will take for it to get to my wallet.

14.07.2019 16:27
0

Yeah, I checked their buy-with-card process once, and it's quite steep. If it's also complex, then what's the benefit in that?

14.07.2019 16:44
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I bought the second one and it went faster. Didn't had to upload ID again. Way faster than what I have from Romania. It would have been nice to have a cashout option as well.

15.07.2019 06:22
1

Thanks for letting me know.

15.07.2019 07:35
0

If you still use Facebook you can join us at Steem.ph - we discuss Steem almost every day and are preparing in case Steem breaks $0.20 USD.

P.S. Prior to the precious major bull run in Steem there was a big sell-off first 👍

14.07.2019 15:47
1

Thanks for the invitation, but no, I don't use it anymore. It is a very probable scenario, in which weak hands are left behind.

14.07.2019 16:01
2

What i have observed in this type of market situation that shit coins which we don't consider in our portfolio start to grow, might be due to some whales. But now everything is in red. But you may choose a trading competition coin like ERD on binance and can get 3-4% twice a day.

14.07.2019 18:01
1

Yeah, volatility creates opportunities, but also anxiety for many.

14.07.2019 18:15
0

Anxiety for only new traders but anyone who is reading this comment please go on vacations for two weeks. Everything will be OK when you will come back and don't sell in loss.

14.07.2019 18:27
0

Good advice! Even better if they were already on vacation during this period.

14.07.2019 18:31
0

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14.07.2019 22:16
0

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15.07.2019 23:31
0