Buy the rumor, sell on the news
I wonder how the crypto version of that mindset came about actually.
What it is supposed to mean, is:
'Buy on a rumor before most people know about it. When people do know (the news), then sell as the price rises'.
But here in crypto-land, it's a twisted version where people buy as the price hikes until whatever the 'news' is, comes true. Then they sell when that news comes to fruition, regardless of what it is or if it makes any logical sense to sell at all. I saw one coin where people bought on the rumor (which was actually the news) of the coin being released, and sold as soon as the blockchain was released ... very bizarre.