The crypto ecosystem is diverse and combines very different types of investors. A look at cryptocurrencies through the psychological lens.There are roughly four types of people who buy cryptocurrency. The first is the genus Hodler. These are people who have a deep understanding of the underlying blockchain technology and are forever loyal to their coins. Hodler is there for the long term \u2014 be it to the moon or to the bottom of the valley.The second type of people who buy cryptocurrencies is retail investors. These are the people who tend to be more trending and stumble into the crypto market with short term investment strategies. When cryptocurrencies like Bitcoin rise, they quickly jump on the bandwagon. But if the expected profits fail to materialize and the market consolidates, they exit just as quickly and liquidate their assets.The third type of people who buy cryptocurrency is institutional investors. These can be hedge funds, investment firms and banks, or public figures such as Twitter CEO Jack Dorsey. The reason Dorsey is included on this list is that he is unlikely to personally call Bitcoin exchanges like Coinbase or Binance and buy cryptocurrency through them. He is much more likely to buy through an OTC counter with an intermediary such as a financial advisor. These people get on and off the train according to their needs and their wallet.The fourth type of people who buy cryptocurrency is criminals. Unfortunately, in the eyes of many people, cryptocurrency, and especially Bitcoin, are linked to illegal activity. While criminals use Bitcoin for their activities (especially hackers), they tend to turn to privacy coins like Monero, which better protect their privacy. They also make up an ever-smaller percentage of crypto users as more and more people hold digital currencies overall.The crypto market never sleeps and that\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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