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This one is a little less arbitrary. The community put a lot of stock in the fact that while volatile, bitcoin had never crashed below a major previous peak. A
by eqmvii 4y ago
This one is a little less arbitrary. The community put a lot of stock in the fact that while volatile, bitcoin had never crashed below a major previous peak.
As of this morning, that’s no longer true. Still “just” psychology, sure, but the collective impact of that psychology makes the market.
- alangibson 4y agoDoes anyone seriously studying economics seriously make a distinction between market behavior and psychology anymore? It seems like the Homo Economicus rational optimizer idea is dead to all but those ideologically committed.