"It was $4, so $1 is cheap" is anchoring. The market doesn't know or care what you paid.
Psychology
Anchoring bias
Also called: anchoring
In shortRelying too heavily on the first number you saw, such as your buy price or a coin's all-time high.
Also called: anchoring
In shortRelying too heavily on the first number you saw, such as your buy price or a coin's all-time high.
"It was $4, so $1 is cheap" is anchoring. The market doesn't know or care what you paid.