Gossip-Induced Hypes Influence Cryptocurrency Market
Gossip-induced hypes matter in the financial domain!
Cryptocurrency is a real-world fintech use case of blockchains and other distributed ledgers.
Whatever good technology a cryptocurrency runs with, the main driving force of the price and investment caps comes from how better the cryptocurrency utilizes the gossip and hypes, or rather gossip-induced hypes over the cyber news media.
Cryptocurrency lovers and people who love instant monetary gains, often fall into the trap of gossip-induced hypes.
From time immemorial, the financial market has been driven by the propaganda of economic hyped news.
Whether you accept it or not, gossip-induced hypes matter in the financial domain!
Don't believe in the forecasts of the so-called crypto-futurists.
Do your (own) market research, scan all the news, and try to find out the realities.
It is next to impossible to find out which crypto stories are truth-based.
Utilize your reasoning and critical thinking.
Learn from your past mistakes or experiences of a close family member or a trustable friend.
Self-awareness is the key to going steady with finance and wealth.
Keep in mind that Bitcoin will never go to the moon!
Bitcoin is the first cryptocurrency and has acquired the largest market cap, hence the highest fiat exchange rate.
See, you always need a reference to a fiat to assess the value of a cryptocurrency.
Cryptocurrencies are born from fiat currencies and will always depend on fiat currencies.
Cryptocurrencies depend on fiat currencies, but the reverse is not valid.
Going up and down is an inherent trait of cryptocurrencies, as it has a weak similarity to stocks.
Even if Bitcoin rises to a very high fiat conversion rate, it can go down to a low value any day!
Thoughts of the day
It is not a conclusive thought but a timely thinking, which may continually update with time.
Update your self-awareness about cryptocurrencies and fiat wealth.
Above all, never go with the gossip-induced hypes in the cryptocurrency market.
Take time to assess and judge the market situation.
Let your real-world experience-induced gut say something before you make a big decision in cryptocurrency investment and trading.
<> Also published on Publish0x.
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I am a researcher and contribute to the overlapping areas of STEAM (Science, Technology, Engineering, Arts, and Mathematics). I am an active user and promoter of GNU/Linux, Free and Open Source Software. I develop cybersecurity and information security solutions, specifically graphical authentication security.
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#Cryptocurrency #Bitcoin #Bitcoincash #Fiat #Gossip #Hype #News #Fintech #Blockchain #Technology
Dec 29, 2023