Media Psychology and Bitcoin Twitter's Emotional Rollercoaster

Thierry Berger's thesis inspired this opinion piece.

Years ago, a buddy taught me Bitcoin. After our chat, I couldn't believe the price gains over the previous few years. Will this alternative currency continue to climb, or is it a Ponzi scheme that will soon collapse?

I started reading about it and found that Twitter influencers often played with their viewers' emotions, particularly fear and greed. Some of the overblown posts intrigued me.

It was evident to me that social media influenced the Bitcoin decisions of private individuals. I learned numerous theories and models in media psychology during my studies, which I can apply to the Bitcoin market and which may assist others in doing the same.

Bitcoin And Media Psychology Ideas On Twitter

The uses-and-gratifications theory implies that recipients select the medium that best meets their requirements. A person seeks information, entertainment, personal identity (reinforcement of one's own values), or integration and social interaction (exchanges between like-minded individuals) depending on the medium. I combine all four motives simultaneously.

 

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The involvement concept, which suggests that a recipient can remain engaged with the content of an article days after reading it if he or she is directly affected by the developments or views represented. However, this does not imply that attitudes can be transformed irrevocably. The more invested a judge is in a topic, the less susceptible he or she is to persuasion from other viewpoints. With time and experience, the interplay between the emotions of avarice and dread and the resulting tension diminish.


Without exception, everyone in my milieu has corroborated this phenomenon. For instance, after your first bitcoin purchase, you are susceptible to manipulation. With each additional hour of consideration, your opinion becomes more robust. You may become increasingly tolerant of price distortions and, in the interim, see the incentive to purchase satellites at a lower price.

Keeping in mind why you're on Bitcoin Twitter in the first place and how its content affects you will aid in navigating it.

How To Deal With Bitcoin On Twitter

Massive price increases are, in my opinion, the most compelling narrative that attracts retail investors to the bitcoin market. Positive price forecasts are the most prevalent style of tweets I see on Bitcoin's Twitter feed. These generate views, have the potential to induce c, and encourage private investors to make imprudent investments.

 

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How strongly an individual reacts to information with positive connotations or negative connotations during a period of strong price decay, and whether this results in action, ultimately depends on the recipient's motivation, emotions, and the behavior of the consumed influencers. The emotional nature of humans, however, means that new investors may pay the highest prices at the end of an upswing and sell these positions at a loss when prices correct out of dread of a complete market collapse. Therefore, anyone entering the Bitcoin market in this manner must consider the psychological factors at play.

One recommendation I have is to maintain a strong will. When an investment moves into the red, a person's disposition typically declines. However, losses and gains do not manifest if you do not close out. However, I believe that four out of five persons do not emotionally believe this. In this situation, you must be as tenacious as steel. Every private investor should be taught the age-old adage that it is impossible to capture both the peak and the bottom. Historically, "doing nothing" is the optimal course of action in a market that is rising over the medium to long term.

In today's globally interconnected world, it has become increasingly difficult to distinguish between clickbaiters and fraudsters and content with strong communities. This implies that anyone who wishes to learn about Bitcoin via Twitter must conduct their own research to "separate the junk from the good sources." Never base an investment decision on a single opinion or source.

Manipulation Through Media

Media manipulation is not a novel phenomenon, and media history demonstrates that it is difficult to eradicate through regulation.

However, social media amplifies the issue by accelerating the impact of contributions and expanding spheres of influence. My objective is to encourage critical engagement with the media, despite the fact that this is a challenging endeavor on a global scale. Ultimately, the capacity to scrutinize media and one's own emotional responses critically would be of great value in all aspects of life.

 

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This is a contribution from Thierry Berger. The opinions expressed are solely those of the author and do not necessarily reflect those of BTC Inc. or Bitcoin Magazine.


Chris Eberechi

351 Blog posts

Comments
Esewi Ogbebor 44 w

The media is a scary place

 
 
Francis Precious 48 w

Lots of thanks

 
 
Godstime Kenneth 50 w

Interesting

 
 
angelz00 52 w

Many thanks

 
 
Flourish Onyeka 52 w

Interesting

 
 
Happiness Daniel 52 w

Nice

 
 
ego glory 52 w

WOW

 
 
Babalola Temitayo 1 y

Interesting