Understanding the psychology of why people are so obsessed with Bitcoin
Bitcoin reached an all-time high last January, making it soar the cost at 42K USD. Later in recent times, it came close to 70K USD. It went volatile in the middle reaching 32K USD as well. Some warnings were coming about Bitcoin from different players. However, nothing stopped people from loving the said digital coin.
Author:Gordon DickersonReviewer:James PierceJan 18, 2022173.6K Shares2.3M Views
Bitcoin reached an all-time high last January, making it soar the cost at 42K USD. Later in recent times, it came close to 70K USD. It went volatile in the middle reaching 32K USD as well. Some warnings were coming about Bitcoin from different players. However, nothing stopped people from loving the said digital coin. Some even went out of the way to make things work. Some even stated that Bitcoin could reach the next level, making many more people obsessed. The fact of the matter is Bitcoin has become an obsession for Bitcoin. We will understand the psychology behind it in the following paragraphs. You can even explore sites like - https://dogecoin-millionaire.app/for more.
BTC As The Part Of Your Identity
BTC is more called religion than any solution when addressing any problem, claims Mark Cuban, one of the top money men. And we see top tycoons having their jargon with too many phrases, including whale and HODL, as put across in the BTC conference. It helped in attracting loads of attendees. The digital coin remains the most preferred vehicle for buying BTC. The culture you find across BTC remains part and parcel of the game, claims one of the top professors of UOCD, who is also the author of Digital Cash. Once you need to buy BTC, you can think of buying the entire scene, claims the expert. Though we see Bitcoin is now gaining more and more attention, one can find too many serious investors seen on the mainstream as found in the financial groups. It remains with the provocative idea; hence, more people are investing in their radical change.
The Role Of Social Media
Many celebs who were seen investing in Bitcoin remain highly engaged when it comes to checking communities on social media platforms, including Twitter, Reddit, Tik Tok, and many more media seemed to enjoy the popularity of Bitcoin. Soon they were seen coming along with the finance staff having the identity of several role models found in many more economic domains, claims the University professor from Virginia. All these social platforms are seen driving many more behaviours, claims the experts who have studied many more concepts on consumer financial studies. Several research activists are seen telling the story about the same.
Excitement Around Volatility
Many more intelligent investors are coming along with the idea of buying BTC, and these are also seen going to Las Vegas as well claims experts like Warrant Buffett. Bitcoin was seen coming along with the idea of gambling that certainly would enjoy the passion and thrill. Gambling has more exciting things to enjoy, claims the experts. As you check the price, one can find the stocks moving smooth and claiming that Bitcoin can be exciting, and it would help add something exciting and happening. If you check the cost of the stocks too often, you can find too many activities getting a boring thing that claimed the difference. It is very much exciting to see things happening. Many young souls are now growing up with video games and social media that remain the matter of instant gratification.
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We see people tend to become excited regarding the prospects of the coin and make the things different and changing as per the world. Bitcoin bulls are seen predicting the price of Bitcoin, and one can find rising it to 200K USD in the coming next decade along with the mainstream financial domains coming from financial institutions like PayPal to Tech giants like Square. These companies are now getting Bitcoin in their products and financial services. They have many more viral stories regarding people who tend to remain successful regarding Bitcoin. One may find a more desirable windfall coming along with instant BTC millionaire to the tales, including the ones coming along in the BTC family. People tend to focus more on the ups and downs of the coin, while one can be seen coming along with too many possibilities that have become BTC. Lastly, Bitcoin gives people too much hope, and money is one of the critical technologies today that helps you imagine the future.
Gordon Dickerson
Author
Gordon Dickerson, a visionary in Crypto, NFT, and Web3, brings over 10 years of expertise in blockchain technology.
With a Bachelor's in Computer Science from MIT and a Master's from Stanford, Gordon's strategic leadership has been instrumental in shaping global blockchain adoption. His commitment to inclusivity fosters a diverse ecosystem.
In his spare time, Gordon enjoys gourmet cooking, cycling, stargazing as an amateur astronomer, and exploring non-fiction literature.
His blend of expertise, credibility, and genuine passion for innovation makes him a trusted authority in decentralized technologies, driving impactful change with a personal touch.
James Pierce
Reviewer
James Pierce, a Finance and Crypto expert, brings over 15 years of experience to his writing. With a Master's degree in Finance from Harvard University, James's insightful articles and research papers have earned him recognition in the industry.
His expertise spans financial markets and digital currencies, making him a trusted source for analysis and commentary. James seamlessly integrates his passion for travel into his work, providing readers with a unique perspective on global finance and the digital economy.
Outside of writing, James enjoys photography, hiking, and exploring local cuisines during his travels.
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