Crypto Reddit Psychology: Have You SEEN This Study?!
Have you ever wondered what effect social media is having on the crypto market, specifically Reddit? Well, a group of researchers recently conducted a study looking at how crypto holders on Reddit reacted to the crypto market crash earlier this year.
Given that emotions are the primary drivers of price action and that Reddit is becoming an ever more influential force in the crypto market (and stock market), I figured that summarising this report would be a good use of my (and your) time, and it looks like I was right.
I won't give away too much here, but I reckon I can summarise the results in three words: wholesome echo chamber. While the crypto community is quick to help each other, they also tend to reinforce existing mentalities which can be a double edged sword.
Definitely an interesting study, and one I'm sure you'll all love to learn about!
⛓️ 🔗 Useful Links 🔗 ⛓️
► Reddit Study Full Text: https://www.researchsquare.com/articl...
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.