If reflexivity/Mimetic Theory / @RobertCialdini jewelry example holds, purchasing a large amount of a security at an inflated price in markets without many fundamentals should be definitely optimistic in the sense that pushing a penny stock through a resistance under these
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Circumstances should be a reason to believe that others will buy and thus wealth is generated for you personally and companies are given more breathing room to innovate.
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$BTC case we can assume a network effect which leads to a real increase in value when more $$$ is interested and here wealth is generated by increasing the efficacy of Bitcoin.Show this thread -
In general I am wondering if these are exceptions that prove the rule or not. They are in the sense that few people actually view the markets in this explicit manner but not in what really happens.
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