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2 years, 11 months ago
Bitcoin cost – piece changeable. Two years ago, approximately during the same period the price of a coin rose to record $1242, but equaled $12 three years ago. Having reached a pica, almost without delay the price began to fall, to this day the virtual currency could not break the former records. The coin prices still fluctuate within 200–450 dollars for unit.

Each new round of curve cost provokes heightened sense of alarm at fair part bitcoin community as the next jump can destroy their statuses in fractions of a second. After rate fluctuations hot discussions concerning the events reasons steadily follow. Shadow schemes of Pontsi? Manipulations of exchange magnates? Large investment injections? Answers to these questions, strangely enough, can be in the our heads as to each fluctuation of cost of bitcoin there correspond reactions of certain neurons which light up as a daisy on a Christmas tree.

In total in the head

Scientists carried out huge research work, analyzing effects of exchange fluctuations on a human brain and vice versa. The behavior of the market is result of acceptance of a collective solution of players, and decision-making belongs to the sphere of psychology — therefore, the human brain is responsible for this process. As well as the stock price, the price of bitcoin depends on the collective decisions made by community.

According to the neuroeconomist Gregory Burns, information and expectations are key concepts of the analysis of interrelation of neural activity and behavior of the market.

In total in the head, given about the specific facts, given about risks which we collect – it is similar to interception. If to assume that a certain area of a brain is responsible for collection of information from other think-tanks and its processing, it is possible to call it a peculiar barometer of expectations of the user. This area can be studied and even to assume, with high probability, the subsequent actions of its owner.
— Gregory Burns, the neuroeconomist, the director of the center of Neuropolicy in Emory University

From the acquired information expectations, and according to the created expectations form (approaching "туземун" or a course collapse) the area of a brain under the name neostriatum passes to action. Neostriatum or striatum is responsible for decision-making, and also possesses the most extensive network of dopamine receptors, in comparison with other sections of a brain.

The neurology is capable to shed light on the well-known peaks and declines of bitcoin. The number of regular users of bitcoin is still rather small, and is comparable to the number of players of one stock exchange. This statement is fair in spite of the fact that the automated trade bots for sale and purchase of bitcoins, undoubtedly, exist and, according to Andrew Barisser, the owner bitcoin company of Assembly which let out own trade bot at the beginning of this year, enjoy popularity at some exchanges.

Than the market, or other part of community within which decision-making is the defining process is less, more results can bring those studying of psychological background of events.
— Gregory Burns

In bitcoin community the information flow is not too dense (whether to us not to know — we write news about it!), therefore each new fact is potentially capable to make serious impact on forming of the user expectations, Burns as proceeding from history of the previous price fluctuations of bitcoin and reaction of traders, it is possible to draw a conclusion that people cling to each part, in hope to foresee the near future considers, this part is not very well essential or not. Having learned the latest news about investment injections in bitcoin industry, scandal or hacker attack, striatum the trader comes to activity and if news are optimistical, this section of a brain develops a huge number of a dopamine. At the same time the scale reflecting level variation of a dopamine will bear a strong resemblance to a curve of growth of a virtual coin.

However key concept of each separate case are expectations: optimistical or negative news are capable to make enormous impact on consciousness of participants of a network if they already created a certain baggage of the user expectations. If any awful events take place in the world of bitcoin, the price right there punches a lower limit, but this news can seem to someone positive. Everyone who is able to fall is able and to rise. It can seem absurd, but the human brain so works.

All these processes time do not give in to a logical explanation, but the modern economy refused a hypothesis of "the rational person" long ago: people not always arrive logically when business concerns money — or bitcoins

We in Hashflare do not try to guess on a rate of bitcoin, and just we believe in him — and to prelogs to join to you: begin to a maynita bitcoins at our capacities today if you did not make it earlier yet:

As work of a brain influences take-off and declines of bitcoin

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