There are people we refer to as noobs or normies, and they are particularly visible during each cycle, attempting to make their mark. Personally, I believe it should take about two cycles for a person to be "de-noobed," i.e. no longer a newbie.
They will not become pros, but they will have a better understanding of how things work. It is a common belief that we will always have newcomers, which is because the crypto bull market alone attracts over 50% of people, and these people occasionally become liquidity exits, which is how it is.
However, I believe that newbies would want to find ways to become wiser and probably try to understand the market rather than making stupid mistakes, such as those they may have made in the previous cycle.
As a result of these resolutions, they may make decisions based on fear and logic, such as not buying BTC above 100k because most Twitter analysts believe the BTC will not exceed 110k or that the bull market is over.
100K Is Psychological
100k is a psychological price for BTC, and it is monumental; it is going from 5 figures to 6 figures, which has never happened in the history of crypto, and many people are taking advantage of this to profit.
Unless you're a whale, you're going to be taking profit at 100k and a lot of people did, now these people knows that the pump will continue soon enough, so they just sell and buy back again.
So why do people sell when they know the pump is not over? First and foremost, it is done for arbitrage purposes, secondly for security reasons in the event of a dip, and thirdly for pure profit.
In reality, I did not expect BTC to continue pumping after reaching 108k; there was bound to be a lot of dumping for the reasons I mentioned, and this is true for any coin that reaches an astronomical and unbelievable figure.
Many people will be hesitant to buy BTC above 100k, or even exactly 100k, because they believe it will not yield a profit at the market's peak, but this is not the only reason; the second reason is the uncertainty about where the price will be in September 2025. BTC could be 114k or 200k; we can not tell, which is why people will stall.
Alts
Thankfully, there are alts, as alt season has yet to begin, but here's the irony. The higher the price of a coin, the more people want to invest in it; however, an upward movement in price ensures that an investor will profit.
So upward momentum is a morale booster, but even so, people are skeptical that they will make the desired profit.
On the other hand, some people do not want to invest even when a coin is simply correcting after reaching some highs, even if it is a minor correction that is normal in a bull market.
People Fail Other People
I saw a big we3 influencer on Twitter a few days ago being bearish about crypto due to the recent corrections. Now, his tweet implied that the bear market had already begun, which surprised me because over 100k people who follow him will see this tweet and say, "Wrap it up boys, the bear market is upon us."
Now he would not only influence over 100k people, but he would also cause them to miss out on an opportunities to change their lives, and even if they continued to follow him for ten years, they would still be in the dark about how the market actually works, and they would never stop being newbies.
Crypto Defies Logic
There are many logical things about crypto at the moment, one of which is that BTC should not reach 200k because it has already reached 100k in this cycle.
The second is that this cycle will be worse than 2017 and 2021 because institutions are now buying crypto, causing it to lose its decentralization nature.
All of these are logical reasons, but we know the market is never logical, and it will continue to blow everyone's minds in a few months time.
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe
Interested in some more of my works
Is it Easy To Make Money?
Nigeria: A Unique Business Market & Industry
Virtual Bank Apps In Nigeria: An Experience Of Gamification
How To Find The Next "BIG" Meme Coin
Personal Finance: Achieving Intentional "Saving" Goals
Playing The Survival Game: Human Nature In Introspection
"Un-PAYING" The Debt You Owe