Somewhat of a common theme that I have been thinking about and writing about is how emotions play a role in cryptocurrency.
Like in life, as in cryptocurrency, our emotions often guide our decisions. I have noticed a lot in the world of cryptocurrency that there are many diehards regarding various coins or tokens that defend them regardless of logic. Or, on the contrary, are against various coins or tokens regardless of logic.
I understand this from a psychological perspective. It is like sports fans with their favorite team. They will defend them regardless of actual outcomes. However, I do not understand this form an investing perspective. I don't know about you, but I work to hard for my money to invest all willy nilly like based on fandom or to not invest based on dislike of something from an emotional perspective.
I don't know about you, but I really do not know the in's and outs of any cryptocurrency. I only can gather the information that is public. When I research a cryptocurrency I may want to invest in I often find articles posted the same day that it say will go to the moon, as well as articles saying it is doomed. Both cannot be true. Finding the truth through the manipulation is hard, but important to me. There is no real way to tell of the future for most cryptocurrencies. I believe a solid bet for the future (my belief, not investment advice) is that Bitcoin and Cardano will stand the test of time. I believe that a cryptocurrency like Ethereum is likely to stand the test of time, simply because it is so entrenched in the public consciousness.
To me the best way to think about and make informed decisions about any coin or token is to treat all the information like I am doing a psychological assessment. What does the information tell you. Are the naysayers manipulating you to sell something else, are they onto something, or are they just running their mouth to get clicks? Are the "maxis" manipulating you to get you to buy something, are they honest and trying to help you, or are they just responding to their own internal belief system? To me a basic premise of understanding information is to realize all of it is just information, not good or bad, just information. If you can then understand what that information is telling you, then you will be good to go.
Sometimes someone being nice yo you is nice, and sometimes it is to harm you. Taking in all information will help you be accurate in which is happening. Same goes for cryptocurrency.
