Anatomy of pure delusion
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I was looking through my feed and found this little gem from the Safemoon community: Safemoon is pumping…apparently? I checked the price, it was still at the bottom of the barrel. I knew it had to be people getting excited over a small bounce. And probably also people not understanding how percentages work. You need a lot more percentages on the way up than on the way down. In fact, you would need Safemoon to go up about 120% just to retrace this month's 54% loss. It was just people getting excited about a little 15% bounce from a trough. Here's what it looks like: Safemoon is still down more than 90%, and down 53% for the month. That 15% rise wasn't a pump to salvation. It was a drop in the ocean. Worse, it's still getting significant lower lows and lower highs. Unable to break the downward trend. This is what it looks like when people get psychologically attached to a coin and a narrative, rather than an investment strategy. When that narrative doesn't play out, they're left with either accepting the failure, or live in a fantasy world. submitted by /u/fan_of_hakiksexydays |
