Why FOMO when a coin is pumping - page 4.

ardydyon

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Quote from: motun01 on May 03, 2021, 06:14:47 PM

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place

I think a lot of people fomo because they are afraid of being left behind the hype of a coin that rises very high.In addition, social media is also very influential FOMO, because seeing the price of coins are high and people discussing about coins that rise high increases buying interest that does not think the coins to be purchased are already too high and expensive.Finally these fomo only get losses from what they buy.Buying when the price of the coin is high then panicking when you see the price go down and then selling the asset is very sad should invest / trade in crypto we get a profit, buy when the price is cheap then sell when the price is expensive.You should not fomo when buying a coin.learn the graph and fundamentals of a coin you want to buy.

sgenuine

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If you are a really experienced investor, it is difficult for you to understand newbies and “hamsters”. When you see that price is rising, it is too tempting to buy this coin as it seems that it will grow then as well.And when you see red prices you decide that it is better to sell until it is too late. It is a philosophy of newbies and it is terribly wrong. Everything must be vice versa if we are talking about mainstream coins.

labenea

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The Standard Protocol - Solving Inflation

I see that some newcomers to the crypto market have had enough hype that they actually buy alt at current prices thinking that it will never go down or make rich overnight. but in fact it can happen the other way around because the price movement of a coin changes at any time. and people are losing money because they panic after the coin they bought goes down in price.

ogundowotoby01

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The fear to greed index in the financial markets is a real thing and it also applies to the decentralized cryptocurrency market. A lot of people panic when they see their wallet holdings turning RED and they panic sell only to FOMO and buy back when the prices are going up. Ideally, you should always look to buy bags of cryptos when the price has fallen compared to previous market highs. By doing this, you will be buying the coins or tokens for a cheaper price and can easily benefit when the price goes up

calandra78

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Quote from: ahsanif on May 23, 2021, 04:16:43 AM

i think it depends on the capital spent, the more the risk is also high but people who are day trader already know when to take the profit. while people who just reply on Fomo always hope for lucky

Actually it is different, because day traders usually only take 10-15% of their capital, and it is done every day even though market conditions are bad, they tend to do it so that profits can flow continuously every day.

Yes, that's what day traders do. the difficult thing is to choose an asset for day trading because not all assets have good movements every day. we must be able to analyze and choose the right asset for day trading.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: 7788bitcoin on May 23, 2021, 02:13:28 AM

When the market is rallying you will see many investors jumping in to make the profit and they might have seen the hype in social media or other platforms and they enter the market thinking they could make a quick profit and that is what happened with the Dogecoin rally as well.

That is normal though. These small fishes help the bigger whales cash out their profit, exactly the reason why celebs make such comments on social media, the breeding ground for shills and manipulative media.

Quote

Elon Tweeted and everyone jumped into it even without knowing what they are investing and since the market was rallying everything aligned with these investors to make a good profit and anyone missing out on these rallies will start their campaign as well.

They brought in their own downfall with that. Fear of missing out, like I said previously makes people do wrong things at the wrong times. Buying at the time of selling is the one mistake every trader should be careful of when prices are unstable.

See how the celeb hype died down now? Even paypal made a new headline with their news, but people are not covering that or pumping the price up. That is what happens when people watch too much of social media. I expected the price to move up a lot with that but I guess the effect will be late in showing in the market.

SacriFries11

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because they panic and don't want to fall behind like other people, so put aside logic and buy the coin, after buying they feel comfortable then sell if the price goes down even though they know beforehand if the coin is at the top.
Likewise, when dumping occurs they will compete to sell where people should buy.

They are being greedy in the time like this. They are thinking that it will not stop pumping so that they still buy if the price is at peak and it’s very dangerous. Anytime soon the price might collapse and immediately down just like in listing in top crypto exchange. They being hype in the first place, and after few moments they dump immediately resulting a big lose for those who have late entry. We must wait for the dip then buy again.

acener

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Quote from: motun01 on May 03, 2021, 06:14:47 PM

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place

Who would want to miss out the chance to gain profit?
I wonder if you really understand the meaning of FOMO because if you do you would also understand their purpose on doing it.
They are buying it because it shows a strong up trend and they think that it would continue so they would grab that chance to have a profit.

Henrobakkara

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Quote from: motun01 on May 03, 2021, 06:14:47 PM

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place

That's why it is called FOMO "Fear of Missing Out" Those people are usually undecided whether to enter or not and they might watch that price rise for some time and eventually when they do decide to buy. they end up buying when the price has peaked already and this is backed by all the hype that might be trailing that coin/token at the time.

ahsanif

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Quote from: Sri rahayu on May 23, 2021, 02:25:00 AM

You are afraid of losing short-term gains, without thinking about the risks when you walk in, that is highly discouraged. I have ever felt that experience, such conditions are very suitable for day traders.

Yes, day traders never hold for a long time, because they often seek small daily profits, which they will always benefit from every market condition because they never save for a long time.

i think it depends on the capital spent, the more the risk is also high but people who are day trader already know when to take the profit. while people who just reply on Fomo always hope for lucky

serjent05

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Quote from: motun01 on May 03, 2021, 06:14:47 PM

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place

Greed + hype = FOMO. That is the main reason why people rush to buy when the price is increasing. A hype coming from a media outlet, friends, or advertisement triggers a person's interest. It is followed by proof by showing the market rising making people believe that it will continue to increase in price. Then triggering greed by setting examples. Once greed is triggered, a person will then act irrationally buying everything their funds allow them, even selling their own assets just to get in thinking that it will increase multiple folds.

ILuckyGuyI

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Quote from: motun01 on May 03, 2021, 06:14:47 PM

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place

Especially when big companies buy huge amount of BTC, people are also affected by it and start buying also. They don't want to stay behind by not buying some. After some time, they lose a lot money when we get really bad news which affect the market directly. People should be very careful while deciding when to invest.

Sri rahayu

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You are afraid of losing short-term gains, without thinking about the risks when you walk in, that is highly discouraged. I have ever felt that experience, such conditions are very suitable for day traders.

7788bitcoin

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Quote from: TheUltraElite on May 23, 2021, 01:14:21 AM

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These questions may seem simple but they carry an immense weight. Because newbies dont take these questions and use a comment "someone told me about it" - they make the mistake of FOMO. What happens is that as long as it is going up they dont bother, but when it starts coming down then they are panicking into information as to whether or not they have been scammed/sold a shitcoin. Something that should have been done before buying.

When the market is rallying you will see many investors jumping in to make the profit and they might have seen the hype in social media or other platforms and they enter the market thinking they could make a quick profit and that is what happened with the Dogecoin rally as well. Elon Tweeted and everyone jumped into it even without knowing what they are investing and since the market was rallying everything aligned with these investors to make a good profit and anyone missing out on these rallies will start their campaign as well.

Psynthax

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It's just how human brain works I guess, when everyone around getting profit due to the pump you don't want to be the only one not having the profit therefore fomo meanwhile when it's dumping while you're also in losing position
you also make a sell order it's weird but happens a lot, investment advice that says "buy when dip sell when low" seem doesn't work.
Then after that people gonna regret selling around the dip, but i guess the fact that it's mentally exhausting to buy at the dip and the market now going up contribute to why they refuse to get in.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: ?? on ??

because they panic and don't want to fall behind like other people, so put aside logic and buy the coin, after buying they feel comfortable then sell if the price goes down even though they know beforehand if the coin is at the top.
Likewise, when dumping occurs they will compete to sell where people should buy.

Lack of insight I would say brings about this bad outcome.

If you are buying something at least do some groundwork on what you are buying, why you are buying it specifically and does it have an impact on future?

These questions may seem simple but they carry an immense weight. Because newbies dont take these questions and use a comment "someone told me about it" - they make the mistake of FOMO. What happens is that as long as it is going up they dont bother, but when it starts coming down then they are panicking into information as to whether or not they have been scammed/sold a shitcoin. Something that should have been done before buying.

Therefore FOMO will happen and you as an experienced trader must take advantage of these weak hands.

Orange89

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The main reason for pumping of FOMO coin is due to the hype created by the community but FOMO is not good at all no doubt it help us to earn good but had huge risk in it as in FOMO a coin with no goal no owner can also pump and then dump suddenly
So don't follow Anyone blindly do your own research and then put your money any project or any coin

tanjiran

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Quote from: Republikcoin.com on May 13, 2021, 04:10:33 AM

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A good investor should have a thorough understanding of the coins and tokens he is buying. Because this has to do with the importance of the digital assets they have and should not follow FOMO using emotions.

Fomo is not good, if it becomes the basis for investment then the risk is quite large. in this case we should not follow lust, especially after seeing the big benefits that other people get, so that it makes you want to get it too until you panic buy, even though it has been topped up, and in the end you get nothing because the next scenario can be ascertained. will panic sell.
the importance of understanding market analysis and self-control, not being greedy.

Kasabus

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Quote from: fortune1002 on May 13, 2021, 04:01:09 AM

They think that price will go much high and they will get profit so they buy at high prices without researching about coin and lose their money when price dump.

Yes, buying at a high price is a slightly ridiculous decision in my opinion because whatever tokens or coins are bought at a high price will always have a very high risk, because the price of each coin will not always remain at a high price.

Buying at a high price is mostly the attitude of those newbies who still lack the information and just go on buying without thinking how to manage the risk. Some also think that this crypto is a quick rich scheme so once they see prices rising up, they even take loans to buy the coins hoping they will make profits doubled or tripled if the coins continue to increase its price.

People are naturally greedy in the first place but they tend to become more greedy when profits is at stake. Not knowing, crypto will eventually go up and sideways especially when we least expect it.

tsaroz

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It's a general trend to move into a rising train. The crypto prices has acted in such ways in last year that once the price rise and hit a height, they kept sticking on it. Look how bitcoin rose and rose and is staying above 50K. Ethereum reached and held 1k, some months later 2k and recently 3k and skipped altogether to 4k. They are having 300 to 400% growth in an average. The general trend is upward and there's lesser chances of getting a loss and larger to get a profit.

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