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CrytoWorld Myths and Narratives: Eight Narratives that Uphold Cryptocurrencies
CryptoWorld has grown into a large ecosystem that manages $1 trillion in assets and has 40 million investors from around the world. This tremendous growth has left CryptoWorld overextended and in continuous need of inflows of money which are primarily provided by investors and traders with faith that cryptocurrencies will at least maintain their value.
CryptoWorld's financing depends on investment in cryptocurrency which is determined by the historical performance of cryptos as well as the investors' forecast of crypto price in the future.. What then determines cryptos; price.
For most financial assets the answer would be that demand is 'comprised of two economic demand and psychological demand. However, cryptocurrencies have not yet found an economic use-value. Thus the CryptoWorld is supported largely by psychological factors.
These psychological factors are presented to investors in the form of narratives. These are stories about crypto that find acceptance by a large group of people. Once adopted, they influence a group's beliefs and actions, including investment decisions. Narratives do not try to present the "truth." They[ borrow information from all sources including facts, hype, misinformation, and marketing. Again, the only goal is to construct a narrative that a large group of people find convincing.
We have found eight narratives that are currently adopted by large groups of investors. These narratives are important in upholding the price of cryptocurrencies.
We subject each narrative with our propriety "narrative audit," which disaggregates each narrative into its components such as facts, opinions, hype, etc. Each component is analyzed to determine if they have a credible outlook for cryptos. We than determine if the narrative as a whole is likely to support crypto prices.
CryptoWorld's financing depends on investment in cryptocurrency which is determined by the historical performance of cryptos as well as the investors' forecast of crypto price in the future.. What then determines cryptos; price.
For most financial assets the answer would be that demand is 'comprised of two economic demand and psychological demand. However, cryptocurrencies have not yet found an economic use-value. Thus the CryptoWorld is supported largely by psychological factors.
These psychological factors are presented to investors in the form of narratives. These are stories about crypto that find acceptance by a large group of people. Once adopted, they influence a group's beliefs and actions, including investment decisions. Narratives do not try to present the "truth." They[ borrow information from all sources including facts, hype, misinformation, and marketing. Again, the only goal is to construct a narrative that a large group of people find convincing.
We have found eight narratives that are currently adopted by large groups of investors. These narratives are important in upholding the price of cryptocurrencies.
We subject each narrative with our propriety "narrative audit," which disaggregates each narrative into its components such as facts, opinions, hype, etc. Each component is analyzed to determine if they have a credible outlook for cryptos. We than determine if the narrative as a whole is likely to support crypto prices.
77 pages, Kindle Edition
Published October 23, 2023
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