This market is not pricing in facts, but pricing in fantasies

The market is always one dominated by confidence and sentiment:

Recently, I don't know if everyone has realized this truth:
The crypto market has never been priced based on fundamentals, let alone data. Fundamentals and data are only the results after narrative changes—sentiment and confidence are the real drivers!

Because the market is never rational and linear. The lack of liquidity after the 1011 crash is just a surface phenomenon, but the real issue is the blow to confidence. When confidence collapses, good news will be seen as bad news, and any small rise becomes a selling opportunity; but if confidence returns, every green candle might be interpreted as the start of a new cycle.

That's why when the market goes up, good news is everywhere, but when it goes down, bad news is all you see!

If you don't believe it, try searching today—you'll see plenty of so-called positive news.

So, do you really think the market is pricing in facts? Wrong! The market is always pricing in fantasies: most of the time, what makes the market different is simply the difference in the participants' minds;

Price is just the average of everyone's fantasies: in a sentiment-driven market, the value of all information depends on what the market currently wants to believe.

So, family, what do you believe in right now?

Is this rebound just a fakeout, or is it a reversal after a washout?

Come on, let's vote: let's see if we can avoid the emotional extremes of the majority!