The Crypto Reverse Psychology
A lot of people celebrated BTC hitting 30k, and some others were "meh" about it. That is, a little bit indifferent, not convinced or thrilled. Although it's gradually lifted them from the feeling of "doom", but it's not just enough to make them feel "green".
Of course, people have learned not to celebrate too early, because when there's a positive sign, the feds comes up with their shinanigan and send the whole market into another FUD wave. It's been a constant game of back and forth in the US senate: "ban or not ban" or "regulate or not to regulate".
I reckon that the Senate knows that a straightforward decision might just bite them in the ass.
It's difficult to nail crypto, as there are always ways it can rise again, so why use the indecision to keep the market FUDing while concocting another huge scandal. Lately, we all know that any green is constantly followed by reds, there's not been an upward and consistent momentum.
Although BTC going from 28k to 30k showed some form of momentum and now it's slightly dipped. What I'm trying to say is that when there's a rise, the Inevitable feeling of reds following creates an unpleasant feeling toward these little gains that we ought to appreciate.
I've been seeing certain market sentiments and nowadays a lot of people in crypto are applying the tactics of reverse psychology.
People come out to predict what they deem likely because of what they've seen and heard and how this has influenced them, however, silently hoping that it'll turn out differently.
A lot of people that predicted 10k BTC at one point, were way in over their heads. However, it was a tactic to keep them from emotionally sinking. What they didn't know is that when people try the reverse psychology in crypto, they end up inadvertently creating FUD. especially by being expressive of their belief.
In crypto, expecting the worst but hoping for the best is the most viable way to cope, in a bear market, but we're not just in a bear market.
We're also being nipped in the bud by the SEC and the US and the intent of this is to pull the rug from under us. So, some people are always thinking in the worst case scenarios, planning for it ( the worst case scenario) but hoping it'll not be as bad as they're planning for.
While it might seem timid or crude, this has worked a lot of times. In crypto, being overly positive is not a healthy sentiment, this is the same as being overly negative. Slightly tilting towards any of them can be dangerous, but the latter is even more dangerous.
Being overly negative can make you FUD
......due to pressure, take out all your money, panic sell, and put the money into any stable venture. The best thing is establishing a balance. Creating contrasting beliefs over the board. However, everyone copes differently, but in the most difficult period, we mostly choose to plan for the most difficult scenarios.
This is a good thing. However, we all know that it wouldn't be as bad as we think, but being proven wrong when the effect of reverse psychology kicks in is always bliss.
For example, a lot of people felt that BTC might hit 8 or 10k and most of these people are actually relieved they've been proven wrong. As per the issues with the SEC, a lot of people are already envisioning the worst the SEC can do, and this is because they do not expect them to be lenient.
The Biden-led administration has been totally anti-crypto
......so the idea is to expect them to do their worst and prepare for it while secretly hoping they can just stop all the witch hunts. However, irrespective of what our reverse psychology is towards crypto, most people are still constantly grinding.
Why is this?
The reason is that better days are inevitable, but it's difficult to admit it vocally that we all know that better days will come. The reason is that nobody wants to jinx it. No one can slap a timeframe for these "better days" so what people do is secretly build their bags in silence, while saying things that are entirely different from What they're actually doing.
For example, some people in the SEC are holding crypto, while the cause is to reduce its authenticity by constantly FUDing it, I bet that some of them cannot bet their money against crypto.
Their cause might be different, but they cannot put their money against it It's reverse psychology. There are financial ventures we tend to criticize, maybe because it's not lived up to expectations, but this wouldn't make us completely stay away from them.
In Conclusion
The world is a place where one brand gains relevance by badmouthing another brand, not because the badmouthed brand lacks quality, but because the other competing brand is scared of any potential success or dominance by the other brand.
The US is mainly trying to bad-mouth crypto. Their traditional finance system has been way worse, but they keep packaging it while aiming a dig and de-packaging crypto in the process. Silently almost everyone is building, irrespective of what they're saying. It's all reverse psychology.
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I think the government wants to build a place for a CBDC but that isn't anywhere close to being released. We all know that the governments want to maintain their control and I honestly am still in the watch and see. As it is right now, I think the market can easily go either way.
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Like you said, CBDC is nowhere near ready. I mean there's no way crypto or competiting for control and against the dollar is possible, but the witch hunt is absolutely crazy. I expect the market to recover slowly.
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I think applying reverse psychology is a great way to cope with the current circumstance of the crypto sphere. It's quite understandable to be openly indifferent when the market moves up. The main culprit is the SEC and their anti-crypto stance. Who knows what they will come up next? However, I believe we should go stealth mode and build because better days are inevitable like you pointed out above.
Yes, better days are inevitable when it comes to crypto, it'll only take time, and this is the problem. The timeframe seems too far for many people and I can understand. However, the best strategy is to build anyway, because it's how we put ourselves in good positions.
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Yes, indeed. I think this is the mindset we need to have in the crypto space. Putting more emphasis on building than anticipating the timeframe and when things will happen.
Well I won't even blame people, timeframe can be a deciding factor when people choose to invest. Right now the SEC & US are messing it up
Right. On the investment side, it makes a lot of difference. Profits have to be booked, strategies for entering or exiting the market has to be implemented.
I hope it backfires on them soon enough :)
Thank you for telling me what you think about how the cryptocurrency market is doing now and what role reverse psychology plays in it. It's interesting to see how different people deal with the market's instability and uncertainty. I agree that it's important to keep our thoughts and beliefs about crypto in check. It's also true that what regulators and governments do and say can have a big effect on the market, so it's natural that people worry about what might happen as a result of their decisions. I also think it's important to realise that while some people may use reverse psychology as a way to deal with problems, it can also add to FUD and uncertainty in the market. The cryptocurrency market is still young, and there is a lot of volatility and uncertainty.
That's a summary. Well yes, I think the reverse psychology works differently for every individual and how it works is often exciting. People leverage it for building.
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The US has no other means to kill or fight crypto other than stifle its growth with regulations which doesn't have a lasting effect on crypto as crypto continues to fall and rise, I see Warren Buffet is at it again about Bitcoin not having intrinsic value calling it a gamble.
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Loool Warren Buffett, that man is still making speeches? I don't blame him, he was a 90s capitalist and he made his money through stock and all, it's difficult to hang onto trend and innovation, the world is changing too fast for him.
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Surprising thing in this whole situation is US Fud didn't bring market to where they wanted it to see.
Most people still believe it is some sort of manipulated pump and than a nuke will take us to 0 !LOL
Last time they've got me convinced with $500k Bitcoin logic and emotionally Got Fomo'ed HoDL and than it was too late for me to do anything.
This reverse psychology is something real learnt to see what can effect market and where it can rekt people... Even after every attempt of US we've seen an opposite reaction and same opposite reaction happens when news media, influencers start to speak oh this is the mighty bull run we going up up and up only.
This euphoria is not much seen as of now and hopefully FUD's gonna make this move more strong. As always bro with Awesome POV!
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Nothing is going to zero, the mainstream media has a way of getting to weak hands, thereby throwing the mark into an unsolicited frenzy of FUD. sometimes this FUD affects us in many ways. But choosing not to invest because of the FUD might be one of the most regretful thing a person might do.
Thanks for the comments.
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Excellent post bro. The cat is already out of the bag with bitcoin and cryptos. The FED and SEC are playing a losing game as they keep printing fiat. That whole centralized system will slowly crumble as bitcoin and decentralized cryptos like hive take a strong hold. Putting all those regulations is like trying to catch the wind, you might restrict it or block it for a while but it will surely move. What we don't have are exact time lines for when things will change but we all know the end game.
Thank you for sharing this well thought out post and keep enjoying your week :}
Already, we know the SEC can't stop Crypto, but doesn't change the fact that even the biggest investors will be scared about the SEC are actually doing. But at the end, people can only keep building and keep hoping for the best. Crypto is here to stay.
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I'm not too much worried about governments stopping crypto or any other BS from mainstream media... It's impossible to stop crypto and that's a fact... they can try, but they will fail...
On the other side, I have recognized myself in your story about thinking about the worst and hoping for the best... It is hard (and almost forbidden) to think positively when we had a long bear market period... I suppose that I'm maybe more cautious than FUDding, but still, I agree with you that it's not a good thing to be over negative...
Nice thoughts! Thanks for sharing!
It's the reverse psychology that mostly happens in crypto. During periods as this, we're quick to think in the superlative. This period in crypto has never happened before, so it got people readjusting and trying to stay sane and a little bit positive, while having them prepare for the best. I think when we try not to be too negative, we end up holding our ground and keep building, despite what the media is saying..
However, there are people who have unchartered and queer coping mechanism.
Like you've pointed out, crypto is here to stay. Thanks for the amazing comment.
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Reverse psychology is something a lot of people don't know about and even if they know about it, they don't know when it's being used in them.
The US government have been in this crypto matter for long enough and it's high time they picked a side. Irrespective of their decision, crypto will still thrive.
I agree with you on the reverse psychology thing and expecting the worst while hoping for the best tactic, we use almost in every aspect of our lives. Sometimes I fee crypto is one big gamble and you also have to be on your feet to react as fast as possible to any given market direction.
I think so @josediccus, it is very easy for the powerful to manipulate the crypto market indicators since they have a huge source of capital. However average investors only try to figure out the reverse psychological effect created by their manipulation. It is not easy to survive in the world of encryption, everything will depend on the large capital put into play. Regards friend!