This post has nothing to do with the market itself, just a line of thinking that I developed while observing the prices and the rallies in the crypto market. The herd mentality makes me think of a true herd of humans. Think of evolutionary psychology, fight or flight response, as it is totality applicable in our case. When people are selling off and dumping they are empathizing eachother's fear primarily, then additionally as intelligent humans they are recognizing patterns.
As in a true herd, the least sensitive and the last to panic will be eaten. As in a true herd the most aggressive members and the ones in the front make the most gains potentially, or they lose the fight if the rest of the herd didn't rally behind. The herd is not intelligent, it's impulsive, and this what we can say about cryptos in general, it is a bubble but we don't care, we are just members of a herd, driven by our impulsivity. Every new member who is joining the herd is covering the rear of the member in front hoping to have a piece of the zebra, and to run away from the lion. Beside the technology, bitcoin is a virtual asset in which our sole imagination is embodying and realizing our most primitive and deepest fears and desires.
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