Bitcoin ‘Scam’ Myth Exposed: How Prospect Theory Explains Investor Panic and Losses
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Bitcoin struggles to regain five-figure levels last seen in November, prompting critics to label it a scam. Commentator Shanaka Anslem Perera suggests panic selling is linked to psychological responses rather than financial metrics.
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Bitcoin (BTC) critics have returned to a familiar refrain, calling the asset a scam as it struggles to go back to the five-figure level it last enjoyed in mid-November.
However, crypto commentator Shanaka Anslem Perera has reframed the argument as a psychological response rather than a financial one, tying panic selling to Nobel Prize–winning prospect theory.
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