Human behavior in the price interference of cryptocurrencies

Since May this year, cryptocurrencies have undergone a value adjustment. The CEO of Binance, a few weeks ago posted on a social network asking: "Pick where you think we are on the chart."For those who want to check: psy graph by binanceInvariably, each person is in a personal phase, although there are tacit phases in the cryptocurrency chart, but sentimentally, each person is at some stage of the ones described below (which are in the chart)1) Complacency represented by the phrase “We can still go up! we are just gaining strength for the next rally”.2) Anxiety represented by the phrase: “Why am I receiving margin calls?”. At this stage, those who operate leveraged start to lose what they had applied as collateral;3) Deniel (deniel): “We can still recover from this when people see the true value”;4) Panic (panic): “Damn! everyone is selling. I need to get out".The point is that each phase, when accounted for by a small number of people, makes the price of cryptocurrency fluctuate much more in terms of psychological values ??than in terms of marketing.The fact is, Bitcoin has had some major fixes in the past. At all times these big fixes exceeded -80%.The time between the highest and lowest price was 50 weeks (one year is 52 weeks).In other words, contrary to popular belief, the cryptocurrency market is far from being a day trade. It's more like swing, when the timing issue defines the medium-term price.There will always be psychological factors in the financial market. But, in the real world, these factors have always been limited to a company, environmental situations, in short, something real. In the case of cryptocurrencies, the mental work is much greater.The herd effect, the one in which everyone makes the same move, is much more strongly felt in cryptocurrencies.Time defines these aspects better because it filters out much of the euphoria or anxiety. Searching for mathematical parameters about psychological factors is an efficient way to protect yourself.Keeping your cool and understanding that there are cycles is vital to your investments.The phrase: "Don't invest what you can't lose!" is the maxim that should be followed by investors, especially the smaller ones.Self-knowledge is very evident in these times!In any case, knowledge and learning, together with patience and tranquility allow you not to lose! And not having losses is a way to have won!Two dangerous points are always when you have a lot of people acting impulsively: in the moment of euphoria, with a very high peak of ascent in a short time, and the moment of panic, when you have a very fast peak down, in a short time.Notably this has nothing to do with bull or bear movement: as these movements are consistent and in the medium term.Very little time peaks are fluctuations and volatility.The sum of all the peaks, fluctuations and volatilities over many, many periods, in days, months and years, defines where the bull or bear will appear.That's why it's important to check the daily or hourly chart, but also the macro chart, of months and years, to check the real trend of the cryptocurrency.Again: tokens and DefI do not fit this logic and, therefore, they are so dangerous in an already very dangerous game!Judge and be careful in this game!