NEW!Incredible offer for our exclusive subscribers! Read More
Altcoins

DOGE investing is a fad for many, says behavioural finance expert

1 Mins read

Dogecoin (DOGE) is, without a doubt, the top-performing asset of the year. However, many are wondering whether DOGE is truly going big, or if it is just a temporary reaction to all the exposure it had in recent months.

cryptonews.net

This is actually one of the hottest topics in crypto right now, and even Oxford Risk’s head of behavioral finance, Greg Davies, recently spoke of it in a CNBC interview.

Crypto trading is a fad, says Davies

During the interview, Davies spoke of crypto trading, as well as DOGE itself, calling it a fad for many people — a fun thing to get involved with, as it is currently surging and attracting attention. He believes that people are latching on to an opportunity, which seems particularly attractive now, as there is still a lot of uncertainty due to COVID-19 and global finance.

He believes that people are looking to be involved in something that is growing, popular, positive, and just feel like they are winning at something. At the bottom of this behavior is simple hope for something that is performing well during the period of great uncertainty.

Two groups of Dogecoin investors

When it comes to DOGE specifically, he believes that there are two classes of investors — those who truly believe that the coin is heading for the moon, and those who plan to exploit the enthusiasm and faith of the first group in order to make money.

This second group are not long-term investors, but traders who find it fun to participate in a trend and make money off of it, more recreationally than anything else.

Finally, Davies said that it is important to differentiate good investing decision making and piling on an asset just because it provides a sense of belonging.

Related posts
AltcoinsBTCCryptoETHMiningOtherStock

Bitcentr launched the largest aid campaign!

1 Mins read
Ukraine is at war, war for our freedom but also for European freedom and democracy. People of Ukraine are in a big…
AltcoinsBTCCryptoETH

Beecrypt with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of beecrypt.net are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
AltcoinsBTCCryptoETH

Beecrypt with Bitfinex will start a trading giveaway for Telegram users

1 Mins read
In this paragraph, Bitfinex with Friends of beecrypt.net are starting with Top crypto giveaway. After that From 0.001 tо 0.25 bitcоin and…
Power your team with InHype

Add some text to explain benefits of subscripton on your services.

Leave a Reply

Your email address will not be published. Required fields are marked *