What is FOMO why people interested in FOMO

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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.

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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.

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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.

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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.

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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!

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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.

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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.

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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.

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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.

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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.

Ryker1

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Well, for those people who did not understand investing in cryptocurrencies and convinced only by FOMO, perhaps there is a possible risk ahead of them.
This is normal for those people when they saw the market was in a bull run, they just dive in without any proper research. Where they are when the market experienced crashes. We can consider it pure greed here hoping to gain in a short period of time not considering bitcoin will be gained even doubled your capital as long as you can wait until the right time of selling to see your profit. People who don't understand FOMO are prone to lose.

Japinat

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What we are witnessing now is already a FOMO, it happened many times in crypto and still people won't learn.

The fact that the marketcap now have already reach to a trillion dollar, that means it has significantly grew over a short period of time and for me it's not normal, haven't seen in the history of bitcoin that pump so high and it did not make some correction, we might see it soon, just be ready.

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FOMO? This is not really interesting...Well, people had to know how they put their life to a sad end.
People who come into the market when the market is high has corresponded to high-risk as well but they are positive, they are not thinking about the dumps as they are always thinking the rising trend to sustain. Are they wrong? It could be, maybe. Because if the price continues to move high, they'll be fine. They'll not be getting rekt unless is the dumps have to follow.

Investing is somewhat like you are gambling, it is to have like on the other hand.

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FOMO meant Fear of Missing Out and essentially talks about the feeling when everything and everyone is on the trend and you aren't in it yet. This happens to numerous things but in crypto terms, it basically means the fear of not gaining profits after ignoring a coin you thought wouldn't be profitable turns profitable anyway after a few months.

MCobian

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I believe most of the people who are attracted to FOMO are greedy people, although I know that not everyone who is FOMO is greedy. Sometimes
there are people who FOMO because they follow the suggestions of others, because they really don't understand how to analyze the market.
Actually, people who are interested in FOMO are people who don't want to miss the hype that occurs on a project, for the purpose of getting a large
profit. So most people who are FOMO are actually successfully manipulated by whales or big investors. So be careful not to become FOMO people
when investing.

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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 👌👌

The human characteristic never be changed easily, although they have felt how the FOMO can make they lose a lot of money they will always do it. Because they have a hope that bull market now is reallt different with the previois bull market. There will always be a defense from them to do everything they have done. You don't have the right to forbid them, I think there's been a lot of education about how FOMO effects however they can interpret for themselves what FOMO means.

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A very dangerous thing for me especially on things like this which is an investment. It'll just ruin the lives of the people who feel FOMO during the increase of bitcoin. They should know that it is too late to invest in bitcoin as we know that correction might occur but look, some people are still risking for the current hype. It's not normal to invest right now, too late, and definitely have huge risks.

Those people who always getting FOMO are the ones who always does reckless things and joining the hype.

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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.

The FOMO of DeFi coins at the end of 2020 is insane. Many became rich in just one night and many were bankrupt in just a few hours.
FOMO is not good to follow. FOMO is only good for people who bought coins at normal prices before FOMO.
New Fomo coins do have a high risk.

Those who continue to follow FOMO are those who have a greedy nature and always want to get fast money, without knowing what the risks will be.

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Thanks guys all of you for your kind words and information 🙂 salute

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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 👌👌

Do you think that FOMO is some sort of altcoin/token?What do you really mean by "avoid fomo,buy old coin"?
"Old coins" like Bitcoin and Ethereum are currently in a FOMO market.I don't see any new coins or defi projects getting even a fraction of all the FOMO Bitcoin gets.
FOMO means "fear of missing out" in case you don't know.The experimental shitcoins you are talking about aren't FOMO,they are "pump&dump" which is a market price manipulation.

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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 an anxiety which is a bad habits of a trader. Scalping method is what you are describing since you are benefiting on the price change of BTC. FOMO is a bad practice that might give a serious loss if you apply it on wrong trading just like on leverage trading that has a liquidation threshold.

tsaroz

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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.

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Quote from: Twinkledoe on January 06, 2021, 06:57:56 PM

Quote from: blockman on January 06, 2021, 06:53:48 PM

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 👌👌

And bitcoin is the oldest coin in the crypto market that everyone can assure, newbies or not. But you can't stop those people looking for those newest coins which they think will give them a big profit in the short term. Bitcoin's the best for long-term investments and this is all for the patient investors that can deal with risks and bears. It's tested crypto that no coin can be par and that's why the market cap of it is just increasing and institutions are buying it.

There are people who are into these new alts, because they can gain profit in a very short period of time particularly those pump and dump coins. However, not many people are lucky to spot those kind of coins and normally, you are already too late to see that opportunity. But if you want an assurance that your portfolio will not go down the drain, better stick to bitcoin or eth.

Yes, there are and they're more confident doing that than to stick to bitcoin. But the risk that they're taking is much higher than choosing bitcoin as their main option. The safest is to pick bitcoin first and then to diversify, Eth will come next, and so on. It's the best strategy to have a crypto portfolio especially for newbies that are starting out. They will get a better chance of survival in the market if they choose to have bitcoin first rather than hearing an altcoin investor that suggests unknown and uncommon alt.

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Quote from: shaghayegh7496 on January 07, 2021, 01:19:29 AM

everyone scares to lost the opportunities to buy bitcoin in proper time Huh

not scare to buy but scare that they cant sell high anymore thats why they fomo and sell but theres nothing to fear of in btc and no need to fomo because price can rise can always extend if lucky . they can reap more benefits if they wont fomo .

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 👌👌

yes we are now in bull market so why bother investing on those risky coins when we can invest in safe coins and still gaining the same benefits ? infact we can even reap more benefits investing in safer coins alone .

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everyone scares to lost the opportunities to buy bitcoin in proper time Huh

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It is natural to want to participate in something that is gaining a lot of popularity. You can't really stop people from feeling a certain way and wanting to participate especially if it means potentially making a lot of money. Many times you will end up getting rekt but sometimes it is worth getting in too late than not getting in at all.

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The definition for panic buying or FOMO (Fear Of Missing Out). Read the definition: https://www.investopedia.com/terms/p/panicbuying.asp

The FOMO wave raises the price to the Moon in short period but it is unsustainable and it will peak at the maximum euphoria after which the market will be crashed. You can look at the psychological chart and understand its meaning.
Panic Mode? What a Wall Street Chart Tells Us About Bitcoin’s Price

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Why would you even FOMO on new coins though? Their not really projects one should invest willy nilly, especially in big amounts, since they're called "new" for a reason. Heck, even if you gave me a list of coins to invest, I'd always go for BTC, and if asked to choose more, then the top altcoins out there like ETH. Not to mention that some projects may actually be taking advantage of the season right now to actually tempt newbies, a scam under a FOMO feeling.

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Quote from: Broly46 on January 06, 2021, 01:05:49 PM

Quote from: qwertyup23 on January 06, 2021, 11:25:32 AM

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 👌👌

There's a huge problem with people who has FOMO especially when they enter something they do not know about.

Let us take an actual example. Back in December 2017 when the price of bitcoin reached an all-time high of $18,500/btc, people lost their minds. Many entered and invested into bitcoin without even knowing what it was and the technology behind. As a result, a month after December or around first quarter of 2018, the price of bitcoin plummeted and crashed. Unfortunately, those people who invested during this bullish run claimed that bitcoin was a 'bubble' and a 'scam'.

FOMO can be advantageous but you must know what you are getting in to. If you blindly invest into something without even knowing what you are actually purchasing, you will just add to the stigma which contributes to the negative image of cryptocurrency.

Yeah, I remember some old retirees bet their pension on bitcoin at the peak, that’s crazy they’re going FOMO on bitcoin, ETH soar to a point nobody can even believe that many wonder it’s spell the demise of bitcoin dominance! But the market collapse quickly, and the domino effect is so horrible I’m watching many small exchanges go completely offline, anyone remember defunct liquid exchange? Many of them go to every random forum and writing their horror stories. I believe many OG get screwed on the FOMO very badly.

It's mostly those irrational newbie buyers, who think that the price will go on parabolic rise back in December 2017 because there are a lot of news and speculations that the price will hit $50k.

And then boom, market manipulators played us, once the top price has been reached, they started selling. But we can't compare the FOMO that was 2017 with today's massive buying. It's more of institutions and companies fuelling this spike, not manipulators and whales and speculators who wanted to take advantage of newbies and the FOMO that they created.

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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 👌👌

The project that gets FOMO could really get rekt in a short time but as an investor or trader would you let the opportunity to gain profit gets out of your hand?
Even if the risk is there people would ignore it to gain a huge profit as you said those could smash up 50-100x in Dex all they have to do is get out before they lose money.

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Quote from: blockman on January 06, 2021, 06:53:48 PM

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 👌👌

And bitcoin is the oldest coin in the crypto market that everyone can assure, newbies or not. But you can't stop those people looking for those newest coins which they think will give them a big profit in the short term. Bitcoin's the best for long-term investments and this is all for the patient investors that can deal with risks and bears. It's tested crypto that no coin can be par and that's why the market cap of it is just increasing and institutions are buying it.

There are people who are into these new alts, because they can gain profit in a very short period of time particularly those pump and dump coins. However, not many people are lucky to spot those kind of coins and normally, you are already too late to see that opportunity. But if you want an assurance that your portfolio will not go down the drain, better stick to bitcoin or eth.

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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 👌👌

And bitcoin is the oldest coin in the crypto market that everyone can assure, newbies or not. But you can't stop those people looking for those newest coins which they think will give them a big profit in the short term. Bitcoin's the best for long-term investments and this is all for the patient investors that can deal with risks and bears. It's tested crypto that no coin can be par and that's why the market cap of it is just increasing and institutions are buying it.

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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 👌👌

For those who do like to gamble into those coins on where they do believe that it can shoot up 50-100x in a short span of time then they do really jumped in and they do cry
later on when theyre ass get whopped and when the price goes to the floor. FOMO is indeed common and when people do see it on spot and emotion and beliefs or thins
in mind do collaborates then these kind of decisions do really come out.
Lots of people doesnt really like to miss out profit making opportunity thats why even if its too risky they do still make a dive.

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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 👌👌

It's so easy how easy it is for folks in the crypto space to get carried away and invest in those experimental, high-risk tokens just so they can take part in the "moon ride". Whenever I see this people make this kinda moves, I don't know whether I should feel sorry for them. If the ICO days didn't teach us anything, the days of self drops should have. I'm also not forgetting the fact that DeFi - the current altcoins trend, was a solid decline after the fomo season between june - September 2020.

Wysi

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Most of th tenured user will not blindly go for the new coins just because there is a possibility of more returns than traditional crypto coins like Bitcoin, Ethereum and other top coins. But new users get trapped into investing into new coins as they lack knowledge about crypto domain and wants to get rich quick but ends up with disappointment. FOMO is a natural phenomenon which gains more weight when people start posting about how a user can miss out of potential profit and moreover it was the FOMO which made many users to invest into bitcoin in 2018 at its peak.

Broly46

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Quote from: qwertyup23 on January 06, 2021, 11:25:32 AM

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 👌👌

There's a huge problem with people who has FOMO especially when they enter something they do not know about.

Let us take an actual example. Back in December 2017 when the price of bitcoin reached an all-time high of $18,500/btc, people lost their minds. Many entered and invested into bitcoin without even knowing what it was and the technology behind. As a result, a month after December or around first quarter of 2018, the price of bitcoin plummeted and crashed. Unfortunately, those people who invested during this bullish run claimed that bitcoin was a 'bubble' and a 'scam'.

FOMO can be advantageous but you must know what you are getting in to. If you blindly invest into something without even knowing what you are actually purchasing, you will just add to the stigma which contributes to the negative image of cryptocurrency.

Yeah, I remember some old retirees bet their pension on bitcoin at the peak, that’s crazy they’re going FOMO on bitcoin, ETH soar to a point nobody can even believe that many wonder it’s spell the demise of bitcoin dominance! But the market collapse quickly, and the domino effect is so horrible I’m watching many small exchanges go completely offline, anyone remember defunct liquid exchange? Many of them go to every random forum and writing their horror stories. I believe many OG get screwed on the FOMO very badly.

Review Master

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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 👌👌

It's not like old coin will be remained into this crypto market. Moreover, we must read those old coin/tokens tokenomics whether team/foundation tokens are unlocked or not because most of the team tokens from different project which was started in the previous bull run, are already unlocked or going to be done asap. And if anyone from that team start to take advantage of the alt season, that coin might be dumped and supporters get themselves as rekt one. So we need to be more aware about this.

qwertyup23

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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 👌👌

There's a huge problem with people who has FOMO especially when they enter something they do not know about.

Let us take an actual example. Back in December 2017 when the price of bitcoin reached an all-time high of $18,500/btc, people lost their minds. Many entered and invested into bitcoin without even knowing what it was and the technology behind. As a result, a month after December or around first quarter of 2018, the price of bitcoin plummeted and crashed. Unfortunately, those people who invested during this bullish run claimed that bitcoin was a 'bubble' and a 'scam'.

FOMO can be advantageous but you must know what you are getting in to. If you blindly invest into something without even knowing what you are actually purchasing, you will just add to the stigma which contributes to the negative image of cryptocurrency.

Coinsfera

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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 👌👌

It is hard to get used to new things- coins. People understand the value of coins unless it increases in price. And people want to sell after a few days and it causes a huge price drop after the price rise. Sticking to old coins is also safe, there is a low possibility of scams.

bassbity

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because everyone generally doesn't want to miss the latest information, especially when it comes to cryptocurrency. when someone continues to follow the information, of course based on Fomo or Hype, he will know where their money is invested. On the other hand, the impact is that the information obtained is not necessarily accurate, because we are in a hurry to decide on a belief without further investigation.

Mrsonutiten

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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 👌👌

Topic: What is FOMO why people interested in FOMO (Read 553 times)