Dear Dave,

Thank you for taking the time to read my work and thank you for taking the time to contribute to the discussion.

As you rightly point out, all markets have the potential to be manipulated and given the lack of regulation of cryptocurrency markets, they are even more susceptible than others.

When it comes to cryptocurrencies, there are tools that can be used which will help to track genuine demand and supply and not simply the trading patterns created by market-making bots.

Beyond that, there is an adage that we employ when it comes to statistical analysis which is to never assume that correlation implies causation.

To that end, in some cases we have witnessed certain spikes in demand for cryptocurrencies when there were specific news of development for a particular protocol. In other cases, there were not. To draw conclusions from such patchy data is irresponsible at best and to base trade decisions on a patchwork of data is dangerous.

My sole purpose in writing this piece was simply to help all investors understand that whether we like it or not, we all tell ourselves stories as well as absorb the stories of others that influences our decision-making process.

As far as it comes to investments, it’s important to be cognizant of this very human condition, cater for it, and mitigate its impact when making investments or trading decisions.

Thank you for taking the time to share your thoughts on this matter.

Yours,

Patrick