What is FOMO why people interested in FOMO

minersday

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Quote from: Mrsonutiten on January 06, 2021, 07:44:00 AM

What is FOMO why people interested in FOMO

If you really understand and know the principles of investing in the cryptocurrency market, you will never have the fear of missing out. Every day is a good day to invest in the cryptocurrency market only if you know where to invest within a particular time frame. People shouldn't only focus on Bitcoin and Ethereum. FOMO comes when people have their entire focus on one crypto coin rather than looking into other coins with good potential. There are good opportunities in the crypto market.

Coinsfera

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FOMO (Fear of Missing Out) is described in psychology as the fear of missing the opportunity. FOMO, which can be described as the fear of missing innovation, opportunity, or chance, is also on the agenda in the stock market and the crypto market. While the price of a cryptocurrency has already risen considerably, the investor may continue to buy at the top price due to FOMO impulses, or continue to keep their money in the same coin when the price is bottom. This may cause the investor to lose money.

CryptopreneurBrainboss

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Quote from: Mrsonutiten on January 06, 2021, 07:44:00 AM

My thought we are in bull market just forget new experimental coin smashing up 50x -100x in dex and next week rekt , so old is gold avoid fomo buy old coin 👌👌

So old aren't always gold, xrp is an old coins but from recent developments it's clear it's no gold and was never a project worthy of investment from the onset. That a project give you profits doesn't automatically means it's a genuine investment. We have thousands of scams making people thousands of dollars but that doesn't mean you should follow suit and fomo into investing in them.

Bitcoin is the only worthy project worth investing in that there is an assurance of its continue growth due to the decentralized of the project and finite supply. That can't be said about other old project like ethereum, litecoin etc. Why old project are preferable to be worthy of investment is due to the trust they have earned over the years form the community members.

Therefore any old coins that don't have trust from the community shouldn't be considered gold and be avoided by all cost. In general go for bitcoin while you can likely trade other coins.

Twinkledoe

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Quote from: jamalaezaz on January 09, 2021, 03:51:00 AM

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Yeah fomo can get one rekt easily and unfortunately many people always like to jump in to such project to quickly make some profit but sometimes they will end up getting rekt in the process, it is always better to stick to the old ones which already have good track record, this way it feels a bit safer not to get rekt in fomo.

FOMO is so attractive. people mostly see a FOMO they think if they jump into that they'll get an opportunity like that Bitcoin Pizza guy who got 10k Bitcoins for 2 Pizza's. the hope of getting huge profit make people greedy and they fall in fomo of shit coins.
that is why it is always advised to properly study the project first and look the technology behind before diving into that. don't just go with the FOMO.
some time FOMO end up being good for some people. that is why it always happen again and people get into that again.

It is easy to spot a project that is banking in FOMO only, if they have no active use case or if they have use case but no one is actually using it. What I've seen here is that a project can always create and introduce a particular use case for their project but there is no actual implementation of their use case. So what they will do is that they will strategize to hype up a FOMO so people will buy their coins. And most of the time, it is already too late before those buyers realized they bought crap coins.

jamalaezaz

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Yeah fomo can get one rekt easily and unfortunately many people always like to jump in to such project to quickly make some profit but sometimes they will end up getting rekt in the process, it is always better to stick to the old ones which already have good track record, this way it feels a bit safer not to get rekt in fomo.

FOMO is so attractive. people mostly see a FOMO they think if they jump into that they'll get an opportunity like that Bitcoin Pizza guy who got 10k Bitcoins for 2 Pizza's. the hope of getting huge profit make people greedy and they fall in fomo of shit coins.
that is why it is always advised to properly study the project first and look the technology behind before diving into that. don't just go with the FOMO.
some time FOMO end up being good for some people. that is why it always happen again and people get into that again.

wajik-tempe

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it's a human being that people are following the hype so they will buy things when the things is hype and going up, but only few people who analyze when they buy coins. They rather choose to take a quick profits from buying hype coins than buying coins when the price is low.

adzino

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FOMO which stands for fear of missing out is more like a psychological thing. It is where when people feel like if they don't take an "action" they are about to miss an opportunity. This mainly happens when they start seeing the price skyrocketing and start taking abrupt decisions. Also happens when they see the price dipping. Usually FOMO leads them to a disaster. When they start investing because of FOMO, they end up losing everything. FUD and FOMO is one of the key factor that causes a "crazy" market!

irixo10

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Quote from: Mrsonutiten on January 06, 2021, 07:44:00 AM

My thought we are in bull market just forget new experimental coin smashing up 50x -100x in dex and next week rekt , so old is gold avoid fomo buy old coin 👌👌

FOMO means, fear of missing out and as the name goes, when a coin is pumping hard or when there is a bull run, people always rush into their desired coins in order not to miss out while sometimes it can work in their favour but most times it also works against them. Also, I wouldn't say people are interested in FOMO, I however think it is something that sets in as soon as the market is in good condition; take the Bitcoin market as an example, those who saw it various prices fomo and were able to jump in while some couldn't do that. In addition, although Bitcoin is good to fomo into but it is also wise to know the type of investor you are, that is, long term holder or short term holder, at the same time, if you aren't able to get into Bitcoin, you can also make good gains from other altcoins but this time, not holding for long rather selling at the slightest bit of opportunity.

Banulit

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FOMO is like when people heard that something is trending and they also wanted to make part of this trend and that is happening for mostly of the newbies im crypto world. Even they do not have any idea of what they are really dealing with they still tried to do it knowing that crypto industry is too risky and too unstable and because of these FOMOs the market tend to go in upward trend.

Yamifoud

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Quote from: sayaya17 on January 08, 2021, 05:29:18 PM

Bitcoin is a currency in software whose identity is not widely known to the public. Only certain people know it. But as an investment instrument,
when the price soars as today, people decide to buy it immediately. Because they fear the price of Bitcoin immediately soars. If they don’t buy
it soon, they’ll miss out on profit. FOMO is common in those who are less familiar with bitcoin, even in bitcoin traders, because they involve
emotions more than statistical assessments.

Indeed, they got the right idea but wondering how to manage themselves if the market dumps? Are they blaming themselves?
Most people got into trouble when it regards investment is because they have no enough knowledge. They buy Bitcoin because someone did it but they don't know the risk that they face right after buying.

FOMO is already a part of crypto life but I don't want to embrace that thing rather than to make a wise decision.

ololajulo

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IMO FOMO (fear of missing out) is psychology of human that respond to sustain price growth of coin in market for a longer time. Watching such price movement prompt traders or people to risk fund in investment or purchase over and over as long it continues probably increasing fund in the investment also but with the bitcoin I dont know if it is FOMO but I think new traders are joining

sayaya17

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Bitcoin is a currency in software whose identity is not widely known to the public. Only certain people know it. But as an investment instrument,
when the price soars as today, people decide to buy it immediately. Because they fear the price of Bitcoin immediately soars. If they don’t buy
it soon, they’ll miss out on profit. FOMO is common in those who are less familiar with bitcoin, even in bitcoin traders, because they involve
emotions more than statistical assessments.

AicecreaME

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FOMO comes from a current Trend, for example is Bitcoin. Bitcoin was just $20,000 last December and now it's $41,000 already and going to $42,000. This kind of hype will make people interested in Bitcoin, making them think that they should start investing so that they could make profits like what others do, that's a FOMO.

The only disadvantage of this is that most of the people ignore to learn first what they are having because of profits they could earn, in short, they are already counting the chicks when all they have are just eggs. In simplest term, people could lose profits instead of making one when they are a FOMO.

yohananaomi

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Quote from: JohnBitCo on January 08, 2021, 05:28:45 AM

Quote from: tsaroz on January 07, 2021, 06:45:58 AM

FOMO itself is not a bad thing if you know when to stop a loss. I do admit that bitcoin is already twice the price what I expected it to be and when I sold most of my balance but it hasn't stopped me from buying some more bitcoin to make profit on the rising market. One good way to make profit in short time is to keep buying and selling on a rising market.

FOMO is basically fear of missing out. Those who invest in bitcoin with FOMO, they do not have the holding power. So in case if bitcoin dump temporary they get panic and sell in loss. We should only buy bitcoin if we intend to hold it for long term. In that case, we will never have any loss.

FOMO is something that doesn't need to happen at a time like this, because we all know that bitcoin is at its peak. that the increase will continue to occur, why be afraid and doubtful, because it is true that it will hurt what we will do. I agree with the friend above to buy bitcoin if we believe that bitcoin will produce good things, and will not experience losses both in the long and short term that occur today.

Debonaire217

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It is quite a feeling that is hard to control especially if we have spare funds to spend, reading a big news or seeing a good chart will induce a feeling of Fomo which often results to a bad outcome why? Since are just getting along with our emotions, we didn't examine a news very well so if we are entering the market, we might already be late. What I can advise to avoid getting fomoed is to still try our best to validate each information that we read, we should also learn to read charts and graph and understand the basics of trading.

JohnBitCo

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Quote from: tsaroz on January 07, 2021, 06:45:58 AM

FOMO itself is not a bad thing if you know when to stop a loss. I do admit that bitcoin is already twice the price what I expected it to be and when I sold most of my balance but it hasn't stopped me from buying some more bitcoin to make profit on the rising market. One good way to make profit in short time is to keep buying and selling on a rising market.

FOMO is basically fear of missing out. Those who invest in bitcoin with FOMO, they do not have the holding power. So in case if bitcoin dump temporary they get panic and sell in loss. We should only buy bitcoin if we intend to hold it for long term. In that case, we will never have any loss.

jamesde

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The funny thing about the FOMO cryptocurrency is that it's got a lot of truth. There are some opportunities to profit you will miss out on. That's just the game's nature. No one managed to have pure profit, not even the Winklevoss twins, just from investing in every single opportunity out there.

Your best bet is to think of trading strategies for cryptocurrencies as a quest to see how you can win and make investments that improve your own lot in life. You should not have to freak out over not gaining everything as long as you're gaining something.

DECABEATZ

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FOMO - FEAR OF MISSING OUT!!! PPL PANIC THEY THINK THAT THEY HAVE TO BUY IN TO CATCH THE WAVE. IF THEY DONT GET IN NOW THEY WILL MISS THE BOAT. THE FOMO IS CRAZY RIGHT NOW WITH BITCOIN @40K RISING 20K IN A MONTH =)

agustina2

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Actually, it's not that people are interested in FOMO but they have no choice but to take the risks of buying at the current price.

Even experienced ones are getting struck in FOMO. It's normal so we just have to find ways how to work on our risks-management.

Rengga Jati

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FOMO?
Simply, Fear Of Missing Out (FOMO), actually has occurred not only in this crypto world. Feeling fear is one of the conditions where we cannot control our emotions because of something. That is why, if we are the ones that cannot control our emotions with at least basic knowledge, wise mind, we will be trapped in this FOMO.
In this case, FOMO really gives a bad impact on some cases, such as only following the trends without analyzing which best we can d or get. This condition will lead somebody: Do first, think later.
Without any analysis, only following hype, without understanding the exact condition, we can be trapped in this situation. The worst is losing our funds and regretting the actions that were done.

However, in fact, many people are also following FOMO and this is really common to happen in the crypto world. Moreover, if the market is Bullrun and there are many new coins with high promotion and legit promises.

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