The Science Behind Cryptocurrency Misconceptions: Confirmation Bias

Key Takeaways

Confirmation bias leads us to seek information that supports our existing beliefs, often ignoring evidence that contradicts them.

This bias significantly amplifies both everyday and cryptocurrency-related false beliefs, ranging from 'the moon landing was faked' to 'cryptocurrency is used solely for illegal activities'.

Other biases work in conjunction with confirmation bias, creating a cycle that distorts our perception of facts.