Topic: Less FOMO more Buying - page 2. (Read 329 times)

Fear and greed are elements of the market. People are human and they have emotion. They psychological cycle of any financial market is similar.

In order to check fear and greed index, for reference only, I recommend.

• https://www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/
• https://alternative.me/crypto/fear-and-greed-index/

We must have anger, depression and disbelief phases before a next bull run.

People will call Bitcoin is dead again, many times like more than 450 times they have called so far.

• https://www.bitcoinisdead.org/
• https://99bitcoins.com/bitcoin-obituaries/

Only safe if people DCA with their own money. If they DCA with leverage, loan, that is terrible and violates discipline when DCA. Anyone who want to estimate and make plan for DCA, let's use

https://dcabtc.com/

Bitcoin is currently at $20k, and it's actually a good time to buy for those who couldn't get much at it's $30k because I am sure with the look of things Bitcoin may fall to $17k.. so let's look forward to it

Yes, this is undoubtedly the best advice at this difficult time, as this bear market has caused us all to bleed, the FUD makes anyone make a wrong decision so we have to be more optimistic and know well that the crypto market is always volatile and the end of this bearish wave will be soon so we have to buy the dip, this is a very suitable time to invest in currencies such as Bitcoin, Ethereum, and others.

This piece of advice is not just for newbies but in general...Keeping in touch with the FUDs could certainly change our mindset and affect it negatively.
If we buy yesterday and sell it today, we are losing because the price drops. What I mean is that "If we are investing crypto, it means that we are willing to wait for a better price, not because we are influenced by our emotions. And this is also likely to happen if the money we've used is not our spare money...that really be creating a problem.

I and many others certainly would definitely have loved to follow this advice further, but It is very unfortunate that this season has coincided with inflation and economic difficult. With the rising cost of things and the huge uncertainty surrounding tomorrow,  Spare money that could have been used to take advantage of such opportunities is not so readily available for those that have the mind to keep buying the dip.

The problem is because we even don't know at what rate it will be exactly the dip 
We buy today because we think that the price is at the dip, but later, the price will keep dipping 
This is what happen so far. But, the thing to remember is as you said, never follow FOMO. For us, maybe we are able to differentiate the FOMO, but for newbies, it seems that they cannot, or they don't want to.
Moreover, we know that most newbies are coming here because of that situation, expecting instant high profits without losing, but this seems to be difficult to have the situation like what we are expecting.
That is why it may be good to invest little by a little while also watching how the market will be ongoing because this bearish is not ended yet, it is still continuing.

Less FOMO more buying- but what we know is more FOMO less buying. We can't really give comfort and encourage people to hold and even buy more. As per see, many are selling their crypto as they think this was a smart idea and will secure their funds. They actually have the reason for doing this and it was their choice but somehow, the negative impact of this on the market is more terrible than what they are thinking.

As to matter how hard we tried to educate people about this up and down, market fluctuation, etc... this is simply ignored because of their negative mindset and emotions. We can do less or even nothing for them.

Those with big appetites have always made huge profits from similar situations in the past decades with Bitcoin volatility and to a great extent, the best time to buy is during a market correction such as this if Bitcoin moves down to 10,000 most people can afford to buy their dream quantity.

Alright, although this isn't FUD. When you invest in Bitcoin, you aren't guaranteed a return. as was once said by Benjamin Franklin "Nothing in life is guaranteed, but deaths, and taxes". That's true. Bitcoin is not a get rich quick scheme, and has a chance to not increase in value like it has in history. Remember, correlation isn't causation too, so when looking at charts, and speculating about price be careful.

What you are guaranteed with Bitcoin: No third party involvement, the chance to be your own bank, take care of your own security, determine what fee you want to pay (although, somewhat restricted by miners not including it in the block if it's too low), and freedom of spending your money, without your bank preventing you. If you want to use it for gambling, you can use it for gambling. If you want to use it to pay for groceries, there's services out there that allows that. If you want to pay for your rent with it, you'll have to contact your landlord.

Ultimately, what Bitcoin does provide is freedom. No, not the illusion of freedom that we've all become accustomed too, but proper freedom over your money. As above, you still have to pay your taxes, but other than that no one can tell you how to manage it or what to use it for. Obviously, a barring any illegal activity, but I think that goes without saying for the majority here.

Hmm, I wouldn't put it that way. I'd say those with less risk tolerance invest in times like this or perhaps a more biased view, would be those that believe in what Bitcoin stands for, rather than being wise.

Only wise investors seem to buy at a time like this. Others get scared away because they think it's a falling knife situation. Those who witnessed the last massive dump that saw Bitcoin lose 80% in 2018/19 will be smiling knowingly because they know it's a golden opportunity to buy cheap once more. I witnessed that event and I'm not panicking with this dip. Now it's that time to activate the W. Buffet principle of buying when others are scared and selling when they become greedy. However, I won't be surprised those who said they missed buying cheap when it was almost $70k not buying at this moment of its dip.

As you give new traders a lot of advice and encouragement, keep in mind that many of us came here hoping Bitcoin would go past $25k, but as it stands now, many of us had already invested when Bitcoin's price dropped to $30k. So, what is the best course of action in this situation?
Do you believe that as the price of Bitcoin continues to fall, many newcomers will adopt it again? 

I agree with this, no newbie will want to buy Btc now not having in mind when the market price is going to go up again, so I think it is the advantage of someone who has been in the bitcoin investment for a long time or probably someone who has enough funds in his portfolio
Who can invest for the future not newbies who are yet to understand what the crypto market is all about, we may experience more drop in price we may also see an increase the market will determine.

This is what is often written about on the forum. Buying bitcoin should always be understood from many angles. "Always hope for the best, but prepare for the worst" is a truth for life. If someone is investing, don't invest in something that can only benefit your livelihood. You might forget about the money, which is an old lesson.

So today, the faint of heart should not read various shaman-analysts prophesying the next steps for bitcoin. No matter what happens in life, there is always someone who will say: "I warned about this." Therefore, be calm and patient; otherwise, it’s time for you to understand that bitcoin is none of your business.

Don't just encourage people to buy because it's cheap, encourage them to educate themselves on all things crypto, set goals for themselves and see why and how they would like to participate. This just looks like BTC is a Ponzi scheme and you are luring in new buyers to boost up your portfolio. I know you are not, but it just looks that way and that's just a bad look for crypto.

If you were FOMOed you'll become out of control about your strategy either FA or CA, some of the investors will feel this emotion might have a big effect on the market price because this will cause an extremely powerful emotion to have investors impulsive decisions based on this "fear of missing out" (FOMO).

I'd rather have a decision of buying Bitcoin through DCA way, buying a little by little each week or month when we saw the market has a correction.  Because there's no time frame for investing in Bitcoin even though you will say the Bitcoin bottom price was $25k but it will drop beyond that.  Implementing the DCA way of buying Bitcoin may get the best average price upon your investment.

Now, can you tell me, at what point do we consider as a buying point? or, determine we're in the dip.
Through DCA you'll be safe.

Newbies have to learn from those that have stayed long in this market. Although they can listen to themselves and their own intuitions but having that someone to tell and teach them what to do based on the past experience is a plus for them.

This is all about everyone's decision and bet for their own future. If they believe that bitcoin will change their lives someday upon buying when it's down and the price will increase in the future, they have to think about it.

Also, I think this generation during the pandemic have made people wiser if it's about investments and cryptocurrencies. Many have jumped into investing in crypto by researching first unlike the past years pre-pandemic.

Bitcoin can never become too expensive if you can still be able to buy $50, even if bitcoin is worth $1 million, it is never too expensive as you do not need to buy a whole 1 BTC.

This time is getting more exciting for people that have not bought bitcoin before, to buy at lower price. No one knows what could be the lowest price of bitcoin in this bear time, but who is holding and losing already should not sell, because bitcoin will still later increase and people that thought they are losing will later profit from their bitcoin holding.

What I will just say is that people that do not know the appropriate way and time to invest in bitcoin should make more research about it before investing. Bitcoin investment is profitable than some people think if they can make research and be patient when there is need to be patient and buy at the right time.

 My word of Advice to newbies and crypto newcomers
Bitcoin is at its most exciting season again with the drop in price comes with two perspectives, in this season you will hear more of these two words 1 FOMO 2 Buy the dip, but as far as I know is better to do less FOMO, and more buying with $25,000 i can now own 1 BTC what a privilege, many thought BTC can never come down to this price again since Bitcoin became too expensive when it rise to almost 70k few months back. But now Bitcoin have bottom down to below 25k once again and i will suggest newbies stay away from fuds and buy the dip if you have spear money to do so.