Have you been ignoring coins like SPR due to the (incorrect) majority held opinions?

I am often asked what the greatest key to continuous success is in the crypto market as a whole. The answer to this comes down to a simple observation that anyone can undertake for themselves.

Simply, the majority of traders in this market lose money. Therefore, in order to merely stay afloat and to maintain your balance on the road to profit after profit, after profit, you must learn – as a habit – to disregard the majority opinion, as it is wrong 99.99% of the time.

The one true factor that displays that most of the people in crypto are at least partially able to ‘go against the tide,’ and behave contrary to majority held beliefs and opinions is the fact that despite the false claims and accusations by bankers that is consistently broadcast to the world through each and every respected media channel in existence, that the crypto currency market is unsafe and void of any profit potential – most of you are still regular participants in this ‘dark side’ of the financial world, and not only do you relentlessly continue to participate, but some of you have been reaping in above average profits on a weekly basis…

However, the pressure of majority opinion still exists in this market when it comes to the questions of what to invest in and when to invest.

You see, in the western world, we tend often to accept majority opinions too uncritically. If a lot of people say something is true then true it must be… right? Well, this is how the human mind has been conditioned to operate – to accept the will of the majority. Hence why if you aren’t sure of something, you’re likely to ‘take a poll,’ and if 75% of the people reach a consensus, it seems almost blasphemous to ask, even in a whisper, “Hey, wait a minute, could they be wrong?”

Well… they very well could be.

This humble acceptance of the majority opinion plays a major role in the financial pursuits of the unskilled, who listen not only to economists, bankers, brokers, advisers and other experts, but mainly to majorities.

You need only to bring up the subject of ‘which coins are currently ripe for buying’ to hear the faecal discharge of ‘conventional wisdom’ regurgitated… “only buy when you buy support is high” … “wait to see the cup and handle pattern, or the head and shoulders pattern before you buy”…“stay away from low volume coins..” and as each useless piece of wisdom is disgorged, the majority swarms to express their agreement; “YES! Quite right.. Excellent advice!”

The majority of people believe conventional wisdom to be unarguable truths. In the light of this, it may be instructive to note that the ‘majority’ of people aren’t rich… and to go even further, in this market, the ‘majority’ of people lose money almost consistently.

So clearly, in order to reap continuous gains and to maintain you balance on the road to profit after profit, after profit in the crypto market, you must learn – as a habit – to disregard the majority opinion, as it is wrong 99.99% of the time

SPR
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The pressure of majority opinion is especially troublesome when it comes to the questions of which coins to invest in and when to invest. This is when an otherwise intelligent trader let’s himself be pushed around, with unprofitable results.

I mean, when is the best time to buy into a coin? When the price is low of course… and, when is the best time sell it? When the price is high, naturally. This simple idea is taught in seventh-grade economics, and even if it wasn’t taught – I’m sure people could figure it out for themselves. However, what most people are forced to learn ‘the hard way’ is that this seemingly simple formula is particularly difficult to put into practice.

Why you ask?

Well, it is difficult, in large measure, because it requires the trader to act ‘against’ the pressure of popular opinion… and quite frankly, the average person is simply too weak-minded to stand firm in the face of opposing opinions held by ‘the majority.’

As a general rule, the price of a coin falls when substantial numbers of people come to believe that it isn’t worth holding onto, or buying. The more unappetising they find it, the lower the price falls. Hence the great paradox that most traders are forced to learn ‘the hard way,’ after a string of losses caused as a direct result of following popular opinion – is: the best time to buy a coin is precisely when the majority of people are saying, “Don’t!”

And the obverse is true when it comes time to sell.

The price of an altcoin rises when large numbers of buyers are clamouring for it. When everyone else is screaming, “Give me some of this coin!” – you should be standing quiely on the other side of the counter saying, “Glady.” If you’re not in position to do that, then you have already missed the boat.

Let’s look at a specific example

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On January 23rd, SPR fell into a quagmire of what seemed to be an endless pit of decline, and as a rule – the ‘majority’ of traders in this market believe that a decline in price is “irreversible,” which is interestingly what causes them to refer to coins like this as “dead,” whilst skilled traders refer to coins that are in this type of condition as “cheap” and therefore ripe for accumulation.

Starting on January 23rd, SPR declined from 69,960 Satoshi by 96% and settled at 2,507 Satoshi on March 12th.

As a personal rule, any coin that has attracted a large pool of market wide attention previously – and has declined in price by more than 90%, should be bought with no questions asked as it represents tremendous potential for clean cut, high percentage profit.

However, the majority opinion in the market on March 12th was – “SPR is officially dead!”

As it turns out, anybody who ignored the majority view and bought, made off with a truck load of profit. In fact, since March 12th the price of SPR has advanced from a low of 2,505 Satoshi to a sensationally high 18,500 Satoshi – which is a gargantuan 638% gain for those who went contrary to the opinions held by the ‘majority,’ who are the consistent losers in this market.

You see the traders who make the most money out of situations like this are those who have the mental strength and fortitude to stand firm against the tide of ‘majority held opinion.’ These skilled traders are able to disregard what everyone else is saying and instead think things through for themselves – and anyone who possesses the ability to think logically understands that: the best time to buy, is when the price of a coin is low… and when a coins price is low “the majority” will always advise against buying.

Majority pressure can not only dislodge a good hunch; it can even make us doubt ourselves when we know we’re right. This has been demonstrated in numerous physiological tests and experiments.

One experiment was conducted where eight people were assembled around a table. In the middle of the table itself were 6 pencils of assorted colours. All the pencils were precisely the same height, except one. That one pencil was clearly shorter than all the others.

7 of the eight people around the table were in on the experiment and were advised to express the wrong opinion, one that argued with the evidence of the eyes (much like in crypto when the ‘majority’ describes a low priced coin as ‘dead’ instead of ‘cheap’) 7 of the eight people around the table would say that the pencils were all the same length

Each and every time the question was posed to the group, the one test subject would undergo a moral collapse and go along with the majority opinion thus going against the evidence lying plainly in view… he would squirm, fidget, sigh and finally say yes, okay, i guess the rest of you are right, those pencils are all the same length.

This is what happens in the crypto markets each and every day, it is the unskilled traders inability to go against the tide of the ‘majority held opinion’ that causes him to lose money over and over again

The only defence against majority pressure, is the simple awareness of its existence and coercive power. Novice traders often seem to lack this awareness. A novice can be bulldozed by a majority without even realizing it’s happening – much like how the majority of traders in this market ignored SPR due to popular opinion. Thus, you will always find novices among the herds of people swept aside by the power of market manipulation.

Market novices get pushed around without feeling the push. Novice traders never stop to ask: “Am I making this decision because it’s smart or because everyone else (the majority) say’s it’s smart?”

Simply put, the majority is more likely to be wrong than right. So in order to be continuously profitable in this market, you must guard against betting unthinkingly with the majority.

The greatest pressures on you, and the most frequently felt, will be those that push you into betting with the majority, and such ‘march-with-the-crowd’ speculations are always disastrous! Because these forms of decisions force you to buy when prices are high, and then to sell or avoid buying when prices are low.

The strongest line of resistance against these pressures is to become familiar with the true and most potent strategies of trading the altcoin market for profit – once gain a true understanding of these strategies, you’ll be able to gain a continuous stream of revenue from altcoins, with little to no effort.

Information is always the best line of defence, and allows you to be the ‘manipulator’ instead of the ‘manipulated.’