Tuesday, February 25, 2014

Textbook Example of Social Mood

Somebody tell Prechter about this social mood example. In the Reddit thread about the Bitcoin collapse, someone asked why people left huge amounts of BTC in their MtGox wallets. Answer:

"You have to take yourself back two months ago. Cryptocurrency was a big deal, everyone was (generally) riding high, and it seemed impossible that a disaster of this magnitude would strike."

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