Give people some solid price action and watch how quickly they change their tune!
In just one month the price target for bitcoin by the end of next year has changed dramatically for many people.
About a month ago, PlanB put out this poll on Twitter asking his followers to chime in on what they thought the price of bitcoin might be by the end of next year.
Sees:
(Source: ~~~ embed:1292827429883514881/photo/2) twitter metadata:MTAwdHJpbGxpb25VU0R8fGh0dHBzOi8vdHdpdHRlci5jb20vMTAwdHJpbGxpb25VU0Qvc3RhdHVzLzEyOTI4Mjc0Mjk4ODM1MTQ4ODEvcGhvdG8vMil8 ~~~
As you can see, the majority thought that bitcoin would stay below $55k by the end of next year.
And it was really by a pretty wide margin.
Inject some fresh bullish momentum in bitcoin over the last month and watch how quickly that poll changes.
Lets revisit that same poll, shall we:
(Source: ~~~ embed:1292827429883514881/photo/1) twitter metadata:MTAwdHJpbGxpb25VU0R8fGh0dHBzOi8vdHdpdHRlci5jb20vMTAwdHJpbGxpb25VU0Qvc3RhdHVzLzEyOTI4Mjc0Mjk4ODM1MTQ4ODEvcGhvdG8vMSl8 ~~~
Look how quickly that conviction of bitcoin staying below $55k went away.
Now there is about the same number of people saying it will hit $100k as there are saying it will stay under $55k.
That's quite a big difference in a little over a month.
It's funny what a little bullish momentum can do! :)
Posted Using LeoFinance
It's Really funny and irrational thing .
Some say this is because the Bitcoin market has not yet matured
However, Don't you agree with me that all markets, including gold and silver, are somewhat driven by emotions too?