Cryptocurrency charities can exploit the ‘gambler’s fallacy’ to reap larger donations — study
According to the researchers, people’s penchant to misinterpret patterns could be a boon for charitable organizations that accept cryptocurrency. A team of academic researchers from the U.S. recently published a study exploring how the “gambler’s fallacy” affected cryptocurrency donations. Their findings indicate that organizations accepting crypto donations could benefit from timing the market. Essentially, the team’s work explores the idea that people generally misinterpret certain pattern signals when it comes to finance. Charities that understand the penchant for crypto holders to hold or move assets based on perceived market conditions may be able to optimize their strategies to reap larger donations. Per the paper: “Our findings support actionable recommendations for how charities can design more intentional fundraising campaigns to take advantage of the cost and time efficiencies of cryptocurrencies. By considering recent changes in cryptocurrency prices and highlighting the u...
