Ultimate Crypto Resource Guide
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cRYPTO Glossary
Explore essential terms and concepts in the world of cryptocurrency, blockchain, and trading
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Anchoring and Adjustment
Anchoring is the psychological phenomenon of having a preconceived idea or reference point (the "anchor") and adjusting your decision-making or judgments around that initial reference.
Explanation of Specific Terms:
- Preconceived idea or reference point: The anchor can be a number, value, or piece of information that influences subsequent judgments or decisions.
- Psychological phenomenon: Describes how individuals tend to rely heavily on the first piece of information they receive (the anchor) when making decisions, even if that information is arbitrary or irrelevant.
Key Points for Beginners:
- Why it's important: Understanding anchoring helps individuals recognize biases in decision-making and strive for more objective judgments.
- How it works: In financial markets, for example, the initial price of a stock (the anchor) can influence how investors perceive its value, even as new information becomes available.
Valdis Zhvaginsh
Crypto Enthusiast, CWT Editor
Hello, I'm Valdis
When I began exploring cryptocurrencies, I had many questions. Over time, I've gathered some of the best resources that helped me, and I believe they can be useful to you as well.
I hope these resources assist you in starting your journey into the world of cryptocurrencies and provide useful tools for everyday tasks.
If you have any suggestions or corrections, please contact me
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