The more various opinions I hear about Cryptocurrency, the more I realize that there is a new kind of phobic hysteria, which appears literally about everything related to Cryptocurrency, e.g. mining, trading, ICOs or lending.
In some cases people provide interesting groundings concerning Cryptocurrency risks and instability.
But in many cases their negative conclusions simply sound like: scam, deception and other "demonizing" statements.
I think this phenomenon spreads around fairly fast.
What's your opinion about it?
Among traders, this phenomenon is called "missing the boat syndrome." Those who sold early or missed the boat entirely have difficulty imagining (re)entering the market at this point. I've experienced this too. When you take profit and the market keeps running, it's psychologically very difficult to chase the price. This is why one should
never sell all of their bitcoins.
One of the most prominent recent examples that I've noticed is this "Bitfinex'ed" character. He publicly sold all his bitcoins ~$1,000 early this year. After the BTC price began making new all-time-highs, he began concocting his narrative about Bitfinex/Tether "pumping" the entire market. Seven or eight months later, he considers BTC to be a "fraud" and he proudly says that he never bought back into BTC because he "won't participate in fraud." Now Bitfinex is suing the guy for his social media campaign against them.
Something I've learned about markets: When you hold an asset, you tend to be quiet about FUD. When you hold nothing, you're comfortable shouting FUD from the rooftops. Those people calling BTC and other cryptocurrencies scams aren't making any money right now. That much I know.