Short term memory in Bitcoin is a problem.

[Curious T]

Reading through some topics and replies in the speculation board today makes me realize that people have a short-term memory on Bitcoin. They quickly forget about what happened in the past. Even though they know what happened, they don't factor it into their thinking.
For example, if the Bitcoin price is pumping, people act as if it will keep pumping forever, like there will be no more dip. They talk about how it is impossible for Bitcoin to dip to this price and that price.
Then, if the price is dipping, people talk and act like it's going to be a dip forever or at least act like it's something new. Like it's not normal with Bitcoin.

Currently, some people are already complaining or talking about how Bitcoin has been moving sideways for a long time. Was it not just this month Bitcoin broke through the 90,000 dollar mark and has already gotten a monthly all-time high of about 97,000 dollars, and now it's currently around 95,000 dollars? So, how fast do people expect Bitcoin to move? Is this not the normal pace of Bitcoin? Or is there something I'm missing? It was mostly moving around 80,000 dollars last month, and this month it's going at 90,000, is that not growth? I think it is.

[_act_]

People are not having short term memory posts on bitcoin on this forum, people only post what they think bitcoin price could be. You can also be posting yours if you wish you want to speculate on the price of bitcoin.

They are known as speculations or predictions because we all know that anyone can be right or wrong.

About what you are complaining of, know that people will always be using what is presently happening to bitcoin price to post about bitcoin, there is no problem about it.

[Eternad]

Reading through some topics and replies in the speculation board today makes me realize that people have a short-term memory on Bitcoin. They quickly forget about what happened in the past. Even though they know what happened, they don't factor it into their thinking.
For example, if the Bitcoin price is pumping, people act as if it will keep pumping forever, like there will be no more dip. They talk about how it is impossible for Bitcoin to dip to this price and that price.
Then, if the price is dipping, people talk and act like it's going to be a dip forever or at least act like it's something new. Like it's not normal with Bitcoin.

It’s not a short term memory rather it’s just the influence of being hype that makes people ignore the fact of experiencing the dip.

In most Bitcoin investors the dip is frequently ignored since we all know that no matter what dip Bitcoin experience it will keep coming back at top to have new ATH.

Being optimistic in long term to Bitcoin is beneficial since it growth continuously and proven already if you will check the overall price history. Short term dump is nothing against potential gain in the future so why think about the current dip?

[Marvelockg]

Reading through some topics and replies in the speculation board today makes me realize that people have a short-term memory on Bitcoin. They quickly forget about what happened in the past. Even though they know what happened, they don't factor it into their thinking.
For example, if the Bitcoin price is pumping, people act as if it will keep pumping forever, like there will be no more dip. They talk about how it is impossible for Bitcoin to dip to this price and that price.

Fact is that if bitcoin price goes up, the most rationale way to think is that it will continue going up and up and up... It's more like a wish that overids ones ability to think more logically knowing fully well that both times of bull and bear are all completely temporary.

No investor has short term memory regarding bitcoin price, expectation is what makes it look like an investor is kind of one sided and looking more into the possibility of bitcoin hitting new all time high rather than hitting multiple lows. Most people that are too quick to give speculation are individuals give Thier speculation based on their emotions.

[Ishicryptic]

If the short term memory on Bitcoin that you are talking about is as a result of what you read on the speculations board then you shouldn't worry because it's not a problem. Speculation board is where people make predictions, everybody is free to make their own speculations based on how they perceive where the market is headed. Speculations don't have to be perfect that is the reason for it's name because nobody controls the market, maybe for a very short time but price always recovers. Speculations shows the level of uncertainties in the Bitcoin market so if a prediction goes wrong it doesn't mean that the speculators have short memories it means that the market is volatile.

[john_egbert]

If the short term memory on Bitcoin that you are talking about is as a result of what you read on the speculations board then you shouldn't worry because it's not a problem. Speculation board is where people make predictions, everybody is free to make their own speculations based on how they perceive where the market is headed. Speculations don't have to be perfect that is the reason for it's name because nobody controls the market, maybe for a very short time but price always recovers. Speculations shows the level of uncertainties in the Bitcoin market so if a prediction goes wrong it doesn't mean that the speculators have short memories it means that the market is volatile.

Agreed through and through.

This board is called like that for a reason.. It's mostly a sum of the feelings of the current market situation.

[Dr.Bitcoin_Strange]

@OP, there's no one that has short term memory about Bitcoin history here, even the people that make post about price speculation could have more basis knowledge about Bitcoin than you can imagine, some of them do not post about price without any convincing fact why they think that price will go in the way they expect. If I say Bitcoin is going to get to $200k next week and I explain some reasons why I think it will, does that mean that I'm short memory of the past history of Bitcoin? No, I'm not, Bitcoin history might not remain the same during every circle, that's what you also do not understand.

[Findingnemo]

It is called speculation and that is what people always do not just with bitcoin but each asset that is volatile. And people got short term memory for sure or else they will not be electing the same leaders who failed all the votes and their promises yet they chose them to be their leader again when the next election comes.

[SquirrelJulietGarden]

Reading through some topics and replies in the speculation board today makes me realize that people have a short-term memory on Bitcoin. They quickly forget about what happened in the past. Even though they know what happened, they don't factor it into their thinking.

Psychology of market cycles.

This one is not new, and in other words is familiar with many people, but it is not enough to change many people mindset and action in the market. The market is itself while people in the market mostly don't change themselves. They repeat their mistakes time to time, cycle to cycle and with time there will be new newbies in the market so they are very possibly step on same mistakes of senior people. Human instinct is the same and the market will punish them.

[boyptc]

That's because everyone does have their own price setting and expectation. But you're telling the real observation in there that if the price dips, people would expect it to dip more.

It's the reason why they expect that due to the nature of Bitcoin and that's because of its volatility.

I don't think that this is a problem as long as you're already composed with your portfolio and you're holding significant good amount of Bitcoin.

[pawanjain]

Reading through some topics and replies in the speculation board today makes me realize that people have a short-term memory on Bitcoin. They quickly forget about what happened in the past. Even though they know what happened, they don't factor it into their thinking.
For example, if the Bitcoin price is pumping, people act as if it will keep pumping forever, like there will be no more dip. They talk about how it is impossible for Bitcoin to dip to this price and that price.
Then, if the price is dipping, people talk and act like it's going to be a dip forever or at least act like it's something new. Like it's not normal with Bitcoin.

Currently, some people are already complaining or talking about how Bitcoin has been moving sideways for a long time. Was it not just this month Bitcoin broke through the 90,000 dollar mark and has already gotten a monthly all-time high of about 97,000 dollars, and now it's currently around 95,000 dollars? So, how fast do people expect Bitcoin to move? Is this not the normal pace of Bitcoin? Or is there something I'm missing? It was mostly moving around 80,000 dollars last month, and this month it's going at 90,000, is that not growth? I think it is.

It's not the short term memory but the FOMO that makes people get carried away with bitcoin's volatility.
Yes, bitcoin has fallen and risen a lot of times in the past as well but every time there will be some people who will miss the boat.
So the FOMO in them will keep them go against bitcoin and then later they complain about how things could have been different.

[Fiatless]

Don't blame them, they are controlled by the media. Some of them get information from social media or quack news platforms that promote FUD and FOMO. If you have been on this forum for one year or more, then you shouldn't be perturbed by market movement. The market is volatile and everyone who has been around Bitcoin should be used to it. 

[Patikno]

Discussions naturally follow current events, and it all depends on Bitcoin direction, whether it is up or down.

Many people will talk about price increases when Bitcoin price is rising, and vice versa. So, there is nothing wrong with that, and I don't think it has anything to do with short-term memory; it is simply a kind of speculative expectation, meaning they are trying to discuss what might happen to Bitcoin price next. Essentially, everyone remembers previous events, they just ignore them. Personally, I also tend to talk about Bitcoin price events. If Bitcoin starts to rise, I often talk about the possibility of further increases, and the same goes for when it falls, especially when there is news related to its movement.