Case Study: How Social Media Can Indicate Crypto Market Tops & Bottoms
In this video, I'll be taking a look at comments that have been left on my channel recently (in the midst of this bear market), and comparing that to the kinds of comments that we saw on my channel back in December around the ATH level.
I think this can be useful for identifying the emotions that are driving these comments, and how they might signal where we are in the market cycle at any given time.
DISCLAIMER: This is NOT financial advice. I am just offering my opinions. I am not responsible for any investment decisions that you choose to make.
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This is a great idea, an unbiased review of the comments from those two time periods should give us a decent sample size and data source to begin to better understand market sentiment.
Listening to these old comments from Dec makes me laugh. It was me too... wish I saw the forest through the trees.
That’s exactly what I believe in as well “markets are driven by human psychology”. I also do believe when everyone says crypto market is over with huge spike in selling activity followed by huge spike in buying activity, that’s when we should expect the selloff is finally over. I think we already passed the part when everyone is in denial about crypto going that low. We might be at the last stage when most people just feel capitulation. Back in January when bitcoin was at the top, I made a comment about buying if it gets back to $10k. I think I don’t have to tell you people’s response to my comment. Just out of curiosity, I wonder how do you deal with all these assaults? Does it bother you? I bet it’s just a fraction you shared with us today.
The biggest battle in trading/investing is overcoming ones's own behavioural biases that are reinforced by the "crowd" effect. In this respect while social media comments are useful data I personally think they serve to amplify the "noise" regardless of whether we are in a bull or bear market.If you believe passionately in the fundamentals of crypto and are a hoddler you need to accept that the road to big profits will be rocky and full of many very painful boom bust cycles. IMHO we have only just started the "anger" phase. Price and moving averages don't lie and they are both going down. Therefore I think we still have a way to go to reach a bottom.
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have no fear....the bulls are on the entrance...
I see people on facebook saying the bottom is "$1k" i doubt it will go that low, i think it's just their wishful thinking. I would definitely go hard if it fell that low though lol
importent information tnx brother for share this article
It's okay to argue your words!
Dude this is perhaps the most entertaining video by you. I mean this is in the best way possible because the video also has great amount of learning value as well.
It roughly covered all the phases from 'to the moon!' to 'I am finished' sentiment. The most amazing part is that it is all out there for us to learn from but at the same time it is not as easy to look beyond ones emotional state.
As for me I have lost so much that I am kind of numb at this point. But the truth is that I am a scientific researcher, and that objective kernel of brain never shuts down. I know for a fact crypto is here to stay and to change the face of the financial system and I am focusing on that at the moment.
In the end if it took me a few thousand Euros to learn my way here, then I'll consider it money well spent
I wonder where these guys are at right now. I wonder if Donald Fisher kept his word by not selling. I honestly see in these comments a bit of everything. At the end mostly anger, perhaps denial. I hope you are right about being close to bottom. There are some talks already about Bitcoin Cash going to $250.00 and bitcoin to $3,000.00. If it does, it does. I would see it as an amazing opportunity.