Think of it as not the people which define the market, but rather a set of initial parameters (whatever they are x, y, z etc). These parameters define market dynamics in a chaotic manner. (Ahh that would mean the outcome is not predictable beforehand, so no golden formula, damn.) Chaos means only that the outcome is not a priori predictable, however we know from this theory that such initial conditions produce complex, highly organised systems such as fractal patterns, which repeat with each iteration (not 100 % identical due to feedback effects). These patterns allow us to visual the market dynamics, but what you must remember is that these dynamics already exist! They are like a mold and the investors are like molten iron being poured into the market, they fill up the available space during the hot hype phase, then at the top with start to cool off until we reach the bottom and the caste is removed from the mold. Then we start the process again. The people who make the news and develop the projects (and everybody in the entire universe) are poured into the mold along with the investors. They are market participants too even if they don't know it! We are all connected!