Crypto Academy Season 3 Week 5 || Intermediate Course: Psychology and Market Cycle || Homework post by @ahsanjawed
Crypto Academy Season 3 Week 5 || Intermediate Course: Psychology and Market Cycle || Homework post for @allbert by @ahsanjawed
⚡Psychology and Market Cycle
⚡Question no: 01
⚡ FOMO INTRO
The dread of being missed relates to the sensation or idea that others have more pleasure, a better life, or better experiences than they have. Their feeling of jealousy and self-esteem are important.It is usually exacerbated by social platforms like instagram and Facebook.
FOMO doesn't simply feel like you can do better things at the present time, it feels like you miss something fundamentally essential that others are now enjoying.
It can apply to everything from a party to a promotion at work on a Friday night, but it always entails a sense of powerlessness that something great is missing.
Source
⚡ Overview of FOMO
However, FOMO has become increasingly visible and studied with the emergence of social media. The FOMO phenomenon has been accelerated in many ways via social media. You compare your everyday existence with the highlights of the lives of others.
Your perception of "normal" thus becomes distorted and you do worse than your colleagues. You could view comprehensive photographs of pals without you who have good moments, something individuals in the earlier generations may not have known so well.
⚡ Cycle of FOMO
The fear of missing out (FOMO) is particularly essential. During market uptrends, many people assume that if you acquire an asset at the beginning of its value increase, you will make a significant profit shortly.
I could be a millionaire now if I bought bitcoin when it was one dollar. We'd all be wealthy and live in Monaco or anywhere we wanted if we could foretell the future. Such comments amplify the effect of FOMO, leading to hundreds of investors ignoring market analysis and buying crypto at a loss. Asset prices, on the other hand, cannot represent their true value in a continuously increasing market. Those who have invested due to FOMO risk losing their money.
So, when FOMO is experiencing exhilaration and ecstasy, i.e. when we heard about the revenue of our buddy, and we arrived late on the market-driven by fear.
At the same time, while the FOMO cycle is a study issue, Azaryan emphasizes that it has severe material repercussions for traders. Therefore, not only felt in the bitcoin market should be indifferent to them, but also to their skepticism.
⚡Psychology and Market Cycle
⚡Question no: 02
⚡ FUD INTRO
An abbreviation for "Fear, Uncertainties, and Zweifel." It is a method that influences perception by distributing negative, inaccurate, or fake information about particular cryptocurrencies or the bitcoin market. FUD sometimes describes the cryptocurrency pessimism momentarily pessimistic to the inevitable crypto market as a word used by the crypto community.
The opponents and supposed cryptographers include characters such as Warren Buffet, economist Paul Krugman, or Elon Musk, although he has a love/hate connection with cryptography.
Enthusiasts of crypto frequently deny these subjects as unconscious, inconsistent or straightforward propaganda from public bodies. FUD is a confusing expression, but the meaning of the explanatory derailment on the subject of crypto-monetary.
⚡Analysis of FUD
The crypto ecosystem is based on technology, foundations, and FUD, to restate. New investors were impacted by FUD and narratives which played a major role in destroying economic value, wiping away trillions of dollars of market capital every time. The FUD has less influence with each passing cycle, but it still has. Crypto-currency development, strengthening, and scale of crypto-currencies have and will continue to play a role. Figure highlights numerous occurrences with a bitcoin value compressing and many have been driven by FUD, many of which have been replayed with each cycle and continue to spawn newcomers.
⚡ Cycle of FUD
FUD is a term for fear, uncertainty, and doubts, and is usually used in slang in the story of conditions that influence investment - typically propagated via social media or media. The FOMO-FUD cycle refers to psychological manipulations that create the view of society — a sort of armament of human psychology to drive the general public to a specific extent. Not only is it utilized in marketing and propaganda, but it is also employed in commerce. The cycle of FOMO-FUD is sometimes referred to as the "cycle of dread and greed. "After all, the founders of cryptocurrencies battle not only for investors and their money but also do their utmost to guarantee that no other token surpasses or exceeds its valuable asset.
⚡Psychology and Market Cycle
⚡Question no: 03
For this Question i will Share my Personal Experience of trading PERL/USDT Coin. From which I go through the emotional phases in market cycle.
⚡ PERL/USDT
So, As you can see in the above screenshot I have bought the coin named PERL/USDT. when its price is (0.9632) something. At that time I am pretty sure that this will go high and I am very confident about it but my prediction went wrong and I have to face a big loss. as you can see the current price of this PERL/USDT coin is (0.06145). For me, this is an EMOTIONAL PHASE in the market cycle. I have bought this coin to Enter in the FOMO and I think this coin Is doing very well so many people are interested to buy this coin. all buy this at same prices, So this is went down. Now I and all the people who have bought this before are on hold.
⚡ C98/USDT
All the same thing happened with me, As i tell you above with this coin also named C98/USDT. Its just 5 days a go tis coin C98/USDT is registered on Binance. i have seen it gives as many profit so i Buy this coin C98/USDT At Price (2.1200) At that time i am in the feeling of FOMO but as the time pass the price of this coin C98?USDT are getting Low day by day and now it is on Loss of (-3.29) Currently at price (1.1730) and now i am in Feeling of FUD. Many people also buy this coin thinking of profit but now all you can this.
I think it is now, as I think the C98 is a promising currency supported by a strong project so that it continues to be used and is growing again, what we see maybe a healthy post-bull correction of this market, which often takes months. But if we look at the graph a little further, we can see the buyers are Buy this. If this hurdle can be overcome, they have already driven up the price above the downtrend and are aiming to exceed. Perhaps the price might rise.
⚡Question no: 04
As you can see in the previous question # 3 i have shared my personal experience which was very bad. Now because of the requirement of the Question 4 i have to buy another cryptocurrency So here I Choose ADA/USDT coin.
I prefer ADA Coin because ADA Coin currently climbed slightly higher than its lowest rate, so I think that ADA Coin prices may increase, especially with speculation on another Bitcoin trend in the crypto market, as ADA Coin is an Altcoin and, wherever there is a profitable, it is likely that there is some profitable in Cryptocurrency.
Here I will Explain you step by step, So let's Start.
⚡ Step # 1
This Is My Binance validated Account. You Can i have some USDT from which I will buy some ADA Coins.
⚡ Step # 2
Now goto the ADA/USDT Trading Page, here you will buy option now entry the amount of USDT from which you buy this coin, See here i want to buy ADA coin worth 10 USDT. Then click on the buy Button.
⚡ Step # 2
Now i succefully buy ADA Coin, You can see I have received (7.4225000) (10USDT)
⚡CONCLUTION
Hello @ahsanjawed Thank you for participating in Steemit Crypto Academy season 3 week 5.
In question 4 I clearly requested that the purchase of one of the assets from question 3 be made, however you made the purchase of a different asset. Besides, You didn't perform it's analisys.
I've got one advice. Don't give up. And try again