Topic: Resist all temptation to fomo (Read 726 times)
Well I have earned some good money in crypto either from trading or promoting new projects but FOMO got me good, almost all the money I've earned I invested in a stupid project and now my money is not worth anything anymore, from 4700$ down to 1000$, I've learned a big lesson here and I will never make such mistake again
Yes the most reason for people to be scared of investing in crypto is because of the story of the people around them who fomo into crypto and last most of their money.
And those who are vulnerable with this kind of situations are newbies who don't how the market flows or have no idea how the cryptocurrency works at all. They get easily entice with the high return of investments eve without knowledge of what they are going into. That is why they must learn and educate themselves before making any moves in order to prevent them getting exploited by the situations. Im sure we are all aware what fomo means.
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
FOMO is not good, but some people can't really get over it; It's always difficult for them to do that. I know some people around me who are always afraid to invest in Bitcoin during the normal time, until the price starts to go up, then they will come to me and ask whether they should invest or not lol.Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
I usually advise them that if they really want to invest in Bitcoin they should always do that when there is really nothing happening, they should invest and hold their coins for a long time and continue to hold and take the risk even when the price falls. If you keep trying to buy out of FOMO you might make a mistake and even face something worse. Without FOMO, we cannot attract many instutional funds to in-flow into this crypto space hence FOMO is always needed but we need to be careful without getting trapped by it.
FOMO is literally the worst time to buy bitcoin, just because its going up doesn't mean it will continue to go up forever. People seem to get excited about profits literally at the moment they should be excited about selling, literally the reverse of what should happen happens. When bitcoin price is 6k, people should think about buying because that is low and they could sell higher, what do they think? About selling in panic, why? Because, they think it will go to 3k or even lower.
Obviously, it doesn't and price goes back up. Same with 10k, when it reaches 10k, people think that is time to buy, because they think it will go to 15k or more. At the end of the day, buy when it goes down and sell when it goes up, simple logic but millions in the world not only in crypto but everything in life, fails to understand it.
Obviously, it doesn't and price goes back up. Same with 10k, when it reaches 10k, people think that is time to buy, because they think it will go to 15k or more. At the end of the day, buy when it goes down and sell when it goes up, simple logic but millions in the world not only in crypto but everything in life, fails to understand it.
Im sure we are all aware what fomo means.
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
I don't think even dead coins will be pump this time and people now and newbies will not fall to FOMO again like what happened in 2017, people have learned their lesson and they know there is a trap in FOMO, so be very careful if the news that comes along is an invitation for FOMO, or you will be in serious trouble.
Im sure we are all aware what fomo means.
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
Yes I think that you are right and it is not great to have a fear of missing out here in cryptocurrencies because you will decide for something that you don't want to do and you are getting urges to do it because of your fear and that fear is the fear of missing out here in cryptocurrencies which I repesr is not good. I hope that people would put extra care on their metal health here in cryptocurrencies becsuse it is important to know your capabilities and strengths and weaknesses here in cryptocurrencies and don't lose patience always here in cryptocurrencies Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
I think I would understand if you fomo for top coins especially strong ones like bitcoin and ethereum but fomo for altcoin? I don't get it.
Top coins means you already included altcoins on it because there is only one coin in the market that is considered as bitcoin, the rest are called altcoins and there are thousands of coins listed in the altcoins market.In addition, speaking of FOMO, it happen not only on bitcoin but on altcoins as well, in fact if you remember, during the last bull run where FOMO was evident, bitcoin wasn't the most profitable but some coins in the altcoins market.
You can make it even with the top coin if you didn't buy it at ATH. For altcoins with low volume and liquidity, once it falls, very hard to recover back.
That's the gamble we have to play, with very less liquidity price could be more volatile, and if we fail we will be a bag holder in the end.
Hence, if you are afraid of taking a high risk, better stick with bitcoin or altcoins with good liquidity in the market.
I think I would understand if you fomo for top coins especially strong ones like bitcoin and ethereum but fomo for altcoin? I don't get it. You can make it even with the top coin if you didn't buy it at ATH. For altcoins with low volume and liquidity, once it falls, very hard to recover back.
Yes the most reason for people to be scared of investing in crypto is because of the story of the people around them who fomo into crypto and last most of their money.
I was never a victim of any crypto FOMO but I do warn people against it and yet I end up getting caught in it, which actually make me lose 1800$, I invested in the project because it looks like it will keep surging and I entered at a very high price, since that day the coin keeps going down, I never expect to get caught in FOMO
Although the crypto market is slowly starting to improve now, we shouldn't be fooled by altcoin investments that don't have good prospects for long-term investment
for now it is better for us to invest in bitcoin because altcoin price movements are very influential on bitcoin price movements.
Yes altcoins price are depending on bitcoin now and following its movement. So before investing in altcoins I think its best to have btc on top of your list then buy well estsblished altcoins and avoid the new coins. Well it doesnt mean new coins are bad, its just that mostly of them are shitcoins and dont have real purpose. So take advantage if there's a price dip on crypto and dont buy because of fomo, we cant be certain for the next movement of coins thus better to engage only during bearish market. for now it is better for us to invest in bitcoin because altcoin price movements are very influential on bitcoin price movements.
I think fomo still get to a lot of people, many still got cut up with Como and later regret their actions, it is very hard to resist fomo especially when they see price keeps increasing and all they can think of is jump in and make quick profit because they don't want to miss out, but as a result of this, we are they will find yourself in a tight spot, so it is very important to resist all kind of fomo.
Although the crypto market is slowly starting to improve now, we shouldn't be fooled by altcoin investments that don't have good prospects for long-term investment
for now it is better for us to invest in bitcoin because altcoin price movements are very influential on bitcoin price movements.
for now it is better for us to invest in bitcoin because altcoin price movements are very influential on bitcoin price movements.
FOMO killed many investors on shitcoins. Many shitcoins have been known with FOMO, using top influencer to FOMO on the projects and it later turns scam. So it's better to stay off FOMO, do your own research. Before investing.. also will suggest staying away from new projects with high promises or launching on cheap or free exchange. such projects ends up being scam. Just watch out on good projects with your thorough research and stay safe with your investment.
NB, FOMO is not a good feeling during the bulls
Let me take this as an upgrade or version 2.0 of the initial post.
After going through the comments in the thread, i think the best and most appropriate way to resist temptations to fomo is by feeding ourselves the right source of information.
We need to ensure that our twiiter follows, facebook notifications, and email newsletter are from credible, eligible and true source of crypto currency news, that way, we don't get reactive to fake news, or fuds neither fomo.
You are right,FOMO ( fear of missing out). One thing every investor should know is that there are other opportunities if you are not lucky to get into a particular investment,do some more research and you would be happy you did,and you will find another opportunity to invest in.
People basically make a lot of mistakes related to finances. I think that we should continue to hope for the development of the cryptocurrency market. I will look for money to buy Bitcoin for $ 5000. 
You are right,FOMO ( fear of missing out). One thing every investor should know is that there are other opportunities if you are not lucky to get into a particular investment,do some more research and you would be happy you did,and you will find another opportunity to invest in.
Im sure we are all aware what fomo means.
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously
Do a proper root research before getting into altcoins, resist all temptation to fomo.
Because when btc moons, the dead alts can rise momentarily only
NB, FOMO is not a good feeling during the bulls
Anyone who can adequately overcome Fomo has succeeded in learning the important basics of the crypto space. Fomo dealt with many traders who later learnt and also, it is still dealing with a good number of traders till today, it is something that should be avoided at all times no matter how tempting it is to enter that trade or market. Also, you made a good point about altcoins, when the market booms some dead altcoins will show little sign, but it is just to get to investors etc hence the reason why no matter how good the altcoin might look during that time, make your research properly.
Some people thought that the price of BTC will keep going up when it reached $10,000, they thought that’s how it works, they forget that Bitcoin is a volatile asset and it doesn’t go up at all times, same thing with other cryptocurrencies that are volatile.
Now that the price of Bitcoin decreased and same thing with assets like Litecoin, ETH, BCH and the rest of them, a lot of them now saying that cryptocurrency has failed them especially in this time of Coronavirus😂 funny thing is that they forget that a lot of assets like Dows, precious metals all faced the decrease in price and gold fall was around 3% or so, not much though because it’s a stable investment. Since cryptocurrencies are volatile, their fall will be high for sure.
Now that the price of Bitcoin decreased and same thing with assets like Litecoin, ETH, BCH and the rest of them, a lot of them now saying that cryptocurrency has failed them especially in this time of Coronavirus😂 funny thing is that they forget that a lot of assets like Dows, precious metals all faced the decrease in price and gold fall was around 3% or so, not much though because it’s a stable investment. Since cryptocurrencies are volatile, their fall will be high for sure.
Every investor has their own way to earn peofit. Aome are just going with the 'flow', but for sure, they are aware of what they are doing. Investing into crypto would give you freedom to do so but be sure it won't lead to regret. If an investor would be carried away by the hype, then it is his choice and we should not blame them if they would invest on some alts in which in the eyes of the majority won't be profitable.
The market value of Bitcoin is anticipated to increase but that does not mean that there is certainty for the market value of altcoins to also increase or show parallelism. Although such thing happened before, we cannot be sure that that is what exactly would happen this 'time'. So if you are an investor do not be afraid and make your own decisions. Fomo is somewhat normal because you are conscious with what could happen to your money from investing. But you should deal with the risk, because it is investment you engaged yourself with in the first place.
The market value of Bitcoin is anticipated to increase but that does not mean that there is certainty for the market value of altcoins to also increase or show parallelism. Although such thing happened before, we cannot be sure that that is what exactly would happen this 'time'. So if you are an investor do not be afraid and make your own decisions. Fomo is somewhat normal because you are conscious with what could happen to your money from investing. But you should deal with the risk, because it is investment you engaged yourself with in the first place.
Jump to: