This market is not pricing facts, but pricing fantasies.

The market is ultimately dominated by confidence and emotions:

Recently, I don't know if everyone has seen this truth:

The crypto market has never been priced based on fundamentals, nor on data; fundamentals and data are merely the results of narrative changes. Emotions and confidence are what truly dominate!

Because the market is fundamentally not rational and linear. After the significant drop in 1011, the lack of liquidity in the market is just a surface issue, but the real problem is the blow to confidence. Once confidence collapses, even good news will be seen as bad news, and any slight increase will be viewed as an opportunity to sell. However, if confidence returns, every bullish candle may be interpreted as the start of a new cycle.

So when you see the market rising, there are good news everywhere, but when it’s falling, there’s bad news all around!

If you don’t believe it, just search today; you will find quite a lot of positive news.

So do you think the market is pricing facts? Wrong! In fact, the market has always been pricing fantasies: most of the time, what’s different in the market is mainly what’s different in the hearts of market participants.

Prices are merely the average of everyone’s fantasies: in an emotion-driven market, the value of all information depends on what the market wants to believe at that moment.

So, my friends, what do you believe in now?

Is this wave a rebound from a trap or a reversal after the washout is complete?

Come on, let’s vote: let’s see if we can avoid the emotional extremes of most people!

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