Anyone who has followed me for a while knows that I often talk about market psychology. The price of any market—whether potatoes, gold, or crypto assets—is essentially a reflection of the collective psychology of all buyers and sellers at any given moment. Any serious trader must understand, study, and deeply explore this topic. Events like the largest hacks in crypto history test your grasp of market psychology. After an event occurs, it essentially becomes a guessing game between buyers and sellers, because information is incomplete. Stage 1: (When the earliest and fastest participants see transactions on the blockchain hinting at a hack, their first reaction is to sell the most liquid or highest-risk assets.) Stage 2: (The price has surely become oversold; savvy players, aware of the true value of the asset, begin buying at these oversold levels.) This is exactly where I buy most high-quality coins whenever everyone is fearful and panicking. Stage 3: (Ordinary people—people with jobs, my neighborhood barber, taxi drivers—who aren’t professionals and don’t understand markets, simply follow TV news. They react slowly and start panic-selling as soon as prices rise slightly.) Meanwhile, smart traders quietly accumulate assets in small increments during the panic caused by these uninformed participants. Over time, this creates higher lows until there’s no excess supply left—and then prices surge. We are currently in this stage, which may last weeks or even months. This is what’s known as the “wall of worry.” This has happened many times throughout history. In the early days, price drops were far more severe due to smaller market caps. Even 15 years later, opportunities like this still emerge. As a trader, your job is to stay calm and capitalize on the mistakes made by the uninformed. Your job is to be smarter and calmer than 90% of others—like the legendary strategist Zhuge Liang. I’ve seen this pattern unfold too many times in my years of experience, such as in May 2021—I’ve discussed similar scenarios many years ago.