So, I am just learning Social Psychology in University and it is so fascinating to see how group dynamics in Bitcoin context happens.

Group-think is an effect whereby people via two ways fall into dysfunctional decision-making outcomes. The reason is because we people want to belong in a group, and in this case, no matter the cost. Insert your 'bitcoin maximalist' here.

As a result, when the 'project is promising', the result is collective over-optimism. Insert your bullish memes and charts. To the moon!

The other way happens when the 'project is risky'. The result is collective avoidance, which basically means people ignore other people's opinions and critique. Sounds familiar?

Funny how both of these outcomes are applicable to Bitcoin sphere.

What do I think?

Let's just say that I have a long-term outlook, knowing that Bitcoin is more than what you can see from scratch. It is not just memes, hodling, and bubbles. Those are just the manifestation of the loudest voices in the room. Therefore, I don't think I am a victim of groupthink since I do not join it in the first place. Bitcoin is a new, parallel system that is being built to free money as we know it. Education is key folks.