Paper Hands
Paper hands относится к инвесторам, которые быстро продают свои криптоактивы из-за страха, паники или небольших колебаний цен.
Paper hands часто противопоставляются "diamond hands", которые представляют инвесторов с долгосрочной стратегией покупки и удержания. Термин подразумевает отсутствие убежденности и склонность принимать импульсивные решения на основе краткосрочной волатильности рынка. Такое поведение может привести к убыткам, поскольку инвесторы продают на низшей точке и упускают потенциальную будущую прибыль. Термин широко используется в онлайн криптосообществах для критики тех, кто продает во время спадов рынка.
graph LR
Center["Paper Hands"]:::main
Pre_mathematics["mathematics"]:::pre --> Center
click Pre_mathematics "/terms/mathematics"
Rel_diamond_hands["diamond-hands"]:::related -.-> Center
click Rel_diamond_hands "/terms/diamond-hands"
Rel_rug_pull["rug-pull"]:::related -.-> Center
click Rel_rug_pull "/terms/rug-pull"
Rel_fomo_crypto["fomo-crypto"]:::related -.-> Center
click Rel_fomo_crypto "/terms/fomo-crypto"
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🧠 Проверка знаний
🧒 Простыми словами
📉 It's like someone who buys a ticket to a movie and leaves after the first 'scary' scene, missing the happy ending. They fear losing a tiny [bit](/ru/terms/bit) of value so they quit early.
🤓 Expert Deep Dive
The "paper hands" phenomenon is a manifestation of behavioral finance, specifically illustrating herd mentality and loss aversion. In highly volatile markets, such as early-stage cryptocurrency ecosystems, the lack of established valuation metrics and the prevalence of speculative trading amplify these psychological biases. The rapid dissemination of information (and misinformation) via social media can trigger panic selling, leading to cascading liquidations and price crashes. From a market microstructure perspective, a high proportion of paper hands can increase price volatility and reduce market depth, making it more susceptible to manipulation. Conversely, "diamond hands" represent a form of conviction investing, often associated with a belief in the disruptive potential of a technology or asset class, and a willingness to endure short-term drawdowns for long-term capital appreciation. The interplay between these two investor archetypes significantly influences market dynamics and price discovery.