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RE: So much fear in the market now...

in SteemLeo5 years ago (edited)

@crypto.piotr my friend, you sounded too pessimistic. TA is actually built on human psychology. Many psychology concepts come into play in a TA, recency bias, anchoring effect, self-fulfilling expectations and etc. So as long as humans are still humans (and not cyborgs), TA is still relevant.

The COVID-19 virus is serious and nobody can predict how it will end. However, do remember that its close cousin, SARS, disappeared suddenly after spreading to 32 territories and killed 8000 people. In addition, viruses' mortality rate has the tendency to get weaker over time. This is because viruses need a host to survive and transmit. If the host is killed too soon, the virus has lower chance of spreading. Hence, due to natural selection, viruses' mortality rate drops over time. Of course there will be exceptions but COVID-19 does not seem like an exception if we can trust the numbers from China.

Finally on Fed manipulation. Of course, we all know fundamentally the world is pretty screwed by modern day monetary policies and the fiat system. That is why you and I are invested in cryptocurrencies. Hopefully it is a way out for us.