Binance Psychological Chart: What Level Are You Now?

Binance-Psychological-Chart
  • The crypto world continues to perform wild market swings that raise tension inside the crypto market.
  • Binance psychological chart measures the emotional level of the traders inside the crypto market.

The crypto world continues to perform wild market swings that could make traders and investors go crazy. As a result, the emotional level inside the crypto space is at its peak nowadays. For this reason, Binance created a chart that determines the emotional position of traders and investors in the crypto market.

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Source: Binance Twitter

In the chart above, we can see various types of emotions based on the price and timings of the crypto market. For example, when the crypto price surges to an ATH, traders feel the euphoria. This type of emotion makes people think that they made the right choice like they are geniuses. 

However, when the price of the crypto goes down the feeling of panic and depression appears. As a result, traders and investors start to feel down as FUD inside of them increases. In this psychological state, there is a possibility that crypto holders might end up making wrong decisions. 

All these things mentioned above are just some examples of the psychological cycle inside the crypto world. Therefore, it is recommended to do in-depth research before investing in the crypto market. In this case, traders and investors can avoid huge losses that cannot be reverted back. 

In other news, amid increasing sentiments that the cryptocurrency market has already arrived at the 2021 bear market, market analysts and crypto experts warned crypto traders and investors against panic-selling amid growing fear, uncertainty, and distrust (FUD).

Crypto News Land (cryptonewsland.com) , also abbreviated as “CNL”, is an independent media entity — we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

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