Resist all temptation to fomo - page 2.

Questat

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Quote from: Furryball on March 10, 2020, 06:48:58 AM

There is nothing left to run after in crypto space anymore unless my source feeds me wrong information, it's better to exchange your coins to USD if you aren't ready for the upcoming bearmarket,

That's the right thing to do if you want to get ready on the bear market,.. the question is, is there really a bear market? Why are we overreacting, bitcoin is still at a good price, remember the entry price this year was $7000+ and bitcoin is back to $8000 now.

Quote from: Furryball on March 10, 2020, 06:48:58 AM

this happens because of the present crisis on the economy and of cos the coronavirus outbreak that's still yet to be fixed

Hopefully we the crypto market is the saver for those who panic due to corona virus.

Furryball

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There is nothing left to run after in crypto space anymore unless my source feeds me wrong information, it's better to exchange your coins to USD if you aren't ready for the upcoming bearmarket, this happens because of the present crisis on the economy and of cos the coronavirus outbreak that's still yet to be fixed

Vaculin

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Winding down.

Quote from: gaston castano on March 10, 2020, 12:21:42 AM

I don't think that when the market is bullish, the alt will also increase.
the increase in btc we saw in the last few months is not up, which is why alt does not directly follow the price of btc, and will increase when the btc is stable. whereas, when the bull, all currencies rise together, because there is a huge market momentum that makes all currencies rise.

The increase is not enough to cause a bullish run for altcoins.
Bitcoin has fall from its high this year of over $10,000 and now currently trading below $8000.

I believe there will be a bull run if bitcoin will be stable on its increase, to be sure there is an altcoins bull run, bitcoin has to achieve a new ATH.

gaston castano

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I don't think that when the market is bullish, the alt will also increase.
the increase in btc we saw in the last few months is not up, which is why alt does not directly follow the price of btc, and will increase when the btc is stable. whereas, when the bull, all currencies rise together, because there is a huge market momentum that makes all currencies rise.

Botnake

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Quote from: Kasabus on March 09, 2020, 06:30:27 PM

Quote from: TrevorS on March 09, 2020, 03:27:11 PM

I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

Riding in FOMO is still good if you know how to handle your investment but it would prevent you from more chances of losing if you stick with your original plan to buy coins when the price is in dump. Buying coins at its peak price is not really advisable as the market is very volatile and its price is prone to changes any time.

Riding FOMO is only the game for the professional as they know how to do it with timing, for newbies who rides with FOMO, most of them will fail and will just end up a bag holder, we've seen it last 2017 or the year of bull run and until now I can still read some comments saying they are already holding worthless coins they bought at peak, their mistake is they hold for long term what they bought during the bull run.

Banadony

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both altcoins and bitcoins are birds of the same feather. None of them is stable. today over 51,000 accounts got liquidated because the price fall of bitcoin. we have never calculate how much people loose in altcoins. the crypto market is too fragile that people will get rekt easily and also make money easily. there should be a call for market control just like stock markets can halt the stock market to avoid much market loose.
Such move should be introduced into crypto to save the people funds.

Kasabus

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Quote from: TrevorS on March 09, 2020, 03:27:11 PM

I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

Riding in FOMO is still good if you know how to handle your investment but it would prevent you from more chances of losing if you stick with your original plan to buy coins when the price is in dump. Buying coins at its peak price is not really advisable as the market is very volatile and its price is prone to changes any time.

Wysi

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Merit: 261

Yes, when you posted this FOMO was the issue as people were buying like crazy without learning from the past and right now while I am typing this it's the panic selling and fud which is dragging the market further down, I think most of us will not be able to control their emotions when it comes to FOMO or panic selling and next few months will be more chaotic than ever due to bitcoin halving and we will notice people doing the same mistake again.

We need more posts like this to spread awareness amongst users about minimizing FOMO and panic selling.

kindbtc

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SAPG Pre-Sale Live on Uniswap!

FOMO is real everytime market pumps and Fud or panic is real when market dumps, i have myself tried to avoid both these conditions most of the time but i have to admit that i still usually get caught in fomo and end up in loss and that goes for both new projects or established and top coins even recently i bought one of my favorit ada when it was over 6 cents and i thought it will hit 10 cents as bullish momentum was good but if you check now it is trading around 4 cents that proves it was just a short term pump and nothing big yet so there was no need to enter at that time.

TrevorS

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I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

Rosilito

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Wish for the rain? Then deal with the mud too.

Quote from: Jannyh on March 01, 2020, 10:04:17 AM

Sometimes I think it's good to act according to the trend, especially for traders,they should seize the opportunity to trade alt while bitcoin is moving to make some profit but for hold and long term investment,I think one should do proper research before investing, don't just jump into any altcoin because you see it making an uptrend movement

You got a point, buddy. And it works, IMO. Reiterating your first statement, it best work in short term basis which I agree but you must be in recent trend before diving otherwise you might be leading to other result. The only catch here is that, you literally have no idea behind besides of it being a mainstream (lucky if you knew so you'll have a choice on when to pull out), well it ain't no bad thing but it is totally a bad practice, 'cause as a trader you always need to be aware of your surrounding, aware in means of knowing what's up on such on going stuff not just because majority are into it.

Genemind

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Quote from: FireBallex on February 13, 2020, 05:07:09 AM

I already opted out of altcoins after bitcoin hits 10k, its better to rely on bitcoin than altcoins because I feel this is not the bullrun we've been waiting for, its just a hype market about bitcoin upcoming halving in few months

I just did the same thing because I find a greater guarantee of gaining a better profit with Bitcoin because of its potential. Most investors are carried by the hype which is leading them to regrets and losses. It's better to look for altcoins with good potential or better choose Bitcoin rather than listening to fomos. Not all altcoins would rise when the market situation gets better.

Jannyh

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Sometimes I think it's good to act according to the trend, especially for traders,they should seize the opportunity to trade alt while bitcoin is moving to make some profit but for hold and long term investment,I think one should do proper research before investing, don't just jump into any altcoin because you see it making an uptrend movement

Crypto_lion

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NEW MEDICINE:Faster, Safer, Smarter

Quote from: ife2020 on February 13, 2020, 04:04:00 AM

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

Well while it seems obvious that the fomo should be avoided while selecting the coins or projects to invest in it hard to resist the temptation . I am speaking this from experience and it makes you regret the decision you make. It's better to make a complete research and the project members before investing.

MendozaCharles

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Fortunately or unfortunately, Fear of Missing Out is not diagnosable diseases. If you do not want to fall into FOMO, do your own research and stick with your plan. Consistency is one thing you need to keep constant if you want to grow your wallet. Do not try to hurry, It can be very dangerous for your money.

Bohxz M4p4gm4h4l25

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Quote from: ife2020 on February 13, 2020, 04:04:00 AM

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, dont waste our funds investing to those alts that doesn't really give value and just because of fomo. There are a lot of new alts out there but the problem with them is that they don't have enough supporters or simply they dont give value that is why they starts to fail after the launch. On the other hand there are also a lot of good alts that we can say have a value but in terms of investing we should go on bitcoin because it is the one that has larger network adoption.

mersal

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Quote from: ?? on ??

Quote from: fuer44 on February 29, 2020, 07:35:08 PM

when a bull run comes and bitcoin rises to the moon, that doesn't mean that dead altcoins will also go up to the moon. indeed they might want to, but only a few percent. altcoib which will continue to follow the movements of the bitcoin charts is altcoin with a good market cap and trading volume, or rather those in the top 10.

Dead altcoins as define wouldn't go high when the bull show up, although some might as pumpers will bring their money inside and create some market movement, being fomos will bring only risk to your money, best to research and understand well what the target or certain project and pick the right one for your money.

Projects keep their target too high but they don't even take first step to reach the high ladder so don't just get yourself into any project by only seeing their idea of project their roadmap is also another important factor to be watched out.

jessyj48

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Rekt is always around every corner of crypto space, some people buy Bitcoin at 10k, there thought was this is the beginning of bullrun and now they are already at loss, knowing when to get into buying coins is one thing and knowing when to opt out is another

fortunecrypto

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Quote from: ife2020 on February 13, 2020, 04:04:00 AM

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

You can only combat FOMO if you are educated enough to know if the FOMO is legit or not, there are FOMOs that will generate income for those who will get in early and there are FOMO's that are meant to deceive people and mislead then to invest, even though it's not worth investing at the moment.

cahbagus555

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Quote from: ife2020 on February 13, 2020, 04:04:00 AM

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

When the price of bitcoin rises, you should avoid altcoin which has long been inactive. The price of altcoin rose too high because the price of bitcoin went up and this is normal because bitcoin is used as a benchmark.

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