Yes, as the name implies, they don't want to miss the party that happened, where when someone gets profit from certain coins or tokens, other people will try their luck by buying tokens or coins that have high gain recently. They tend to override their brains to make decisions and give priority to temporary emotions to catch up.
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.
Topic: Why FOMO when a coin is pumping - page 5. (Read 1219 times)
legendary
Activity: 2716
Merit: 1102
Leading Crypto Sports Betting & Casino Platform
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
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. 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
Another problem in bull market is that some may believe they are golden traders, lol, because even a monkey could earn some money during such periods.
Monkeys cant press buttons at the correct times like humans, thats why they are below humans in the evolution ladder. But the false confidence that you said, is a correct explanation of why some people go FOMO and then go with the FUD too. Lack of dummy trading and reading the charts prior to doing trades often end sup with a bad outcome.Quote
Winning some money isn't so difficult, it's way more hard to keep it ...
I think both are difficult. One cannot win without taking risks so the money that comes is bound to go back one day. Still knowing how to use the cash at hand and at proper time is important. People never bought bitcoin at low price - then how to do they think of selling anyway? Patience is what people tend to miss out and the ones being a attention deficient traders, the end result is never good.
They probably don't want to miss out on pump that is happening at that moment, because they think they can savage some profits from it, that's why they don't mind buying at the top, newbies get caught in this alot of times, cause so many of them just want quick profits from that coin /token, they don't want to wait to buy at the dip when the price is low, rather they would prefer to buy at any high price they see it, then start hoping it keeps pumping and its exactly like losing money on purpose, since it never ends well.
That's because many people are still new in crypto. Once you fomo'ed and got crushed your lesson has to be learnt 
I did too... few years ago...
Another problem in bull market is that some may believe they are golden traders, lol, because even a monkey could earn some money during such periods. Winning some money isn't so difficult, it's way more hard to keep it ...
I did too... few years ago... Another problem in bull market is that some may believe they are golden traders, lol, because even a monkey could earn some money during such periods. Winning some money isn't so difficult, it's way more hard to keep it ...
The fear of missing out can do great damage the cryptocurrency portfolio of anyone's who have the practice of buying cryptos when they are already pumping. When a coin is pumping, no one really knows when it will stop the price pump and begin to reverse. More often than not, you FOMO not because you see a small price increase, but because you see a big increase in price, so it is most likely that you're buying such token at a premium price and a dip will soon follow
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
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
If there are a lot of people now implementing this thing, that is because they are prepared or willing to take risk because they know that
we are in the bull run season for the altcoins now, since Bitcoin price moved in between 50k$ to 60k$ for a couple of months, while it is down
some of the altcoins spike their price in the market for believing and hoping to hit the jackpot something like that dude.
It is normal. People just realize the big potential in a crypto coin price improvement once they see the massive increase in a pump.
The hope that they will manage to gain good amount of compensation when they invest while pump still ongoing.Those people want to follow the success of the coin holders, so they also buy.
very bad perspective, but most of the time it happened, thinking that they'll be able to have the same fate with those who succeed to buy in the earlier stages of the project.
They thought the increase in the coin value will continue, whereas after the pump will be a dump soon.
placing them in a situation where they already trapped from the peak, while the value is on the downside.A newcomer sometimes doesn't realize it, they just buy to try their luck.
This should be avoided, always investigate and always analyze before taking your step inside.
It is normal. People just realize the big potential in a crypto coin price improvement once they see the massive increase in a pump. Those people want to follow the success of the coin holders, so they also buy. They thought the increase in the coin value will continue, whereas after the pump will be a dump soon. A newcomer sometimes doesn't realize it, they just buy to try their luck.
Because they don’t want to miss the ride of opportunity. Thats why most people lose money because of fomoing, but they are essential in the market. Human are inborn greedy, once they saw an opportunity they can easily jump into but sometimes losing guards disregarding the potential huge loss.
Many new investors in crypto are buying coins these days not just BTC. FOMO is real. If they still could chase the pump to earn, FOMO can still be good.
Doge FOMO still very alive. If there is just a place where retail investors could buy like the localbitcoins or vertexmarket, there would be a lot of buyers of it. There isn't anything like them though.
If we really know about the project no matter how bad the fomo is, we definitely don't need to panic about that because we know what we invested in. FOMO is just to make us scared and sell it, so the Fomo spreader can buy these coins again at a low price.
I think you have some wrong things buddy, FOMO (Fear Of Missing Out) is a good news to make people greedy to buy while FUD (Fear Uncertainty Doubt) is a bad news to make people afraid and sell the investment.
The purpose of FOMO is to make more people come in to raise the price, the condition mostly makes people who trapped by FOMO got a peak price while the price keep dropping because early investor taking profits.
But sometimes FOMO can be good if the price keep rising because the fundamentals is already good.
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
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
We all know how difficult it is to resist this FOMO when everything lines up for this opportunity and you really think that it is the one investment that's gonna blow up and makes you a billionaire.
It's hard to resist especially if you get blinded by the dollar sign, sometimes even if you already have a lot of experience you make a big mistake of investing in a project and thinking that it is a game-changer, I'm guilty of this one and I just really wanted to invest.
I guess it is part of our greedy that is normal in our nature, most of the time it's difficult to be disciplined and checking everything before putting some money on it, Or maybe we're just use to getting in because of the hype thing in a project.
If we really know about the project no matter how bad the fomo is, we definitely don't need to panic about that because we know what we invested in. FOMO is just to make us scared and sell it, so the Fomo spreader can buy these coins again at a low price.
Its a normal reaction of people, greediness always trigger people to buy after coin pumping incase to take opportunity to ride the trend (bullish trend).
Even most of them know that there's possibilites that the price already reach the peak point.
Even most of them know that there's possibilites that the price already reach the peak point.
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
From the word FOMO then its basically they are really on fear on missing out the opportunity and when they do saw that the price is pumping then they would basically be having the impressionsIsn'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 they should be fast and should get in before they would miss the pump but most likely the case on where people do really get wrecked or make themselves get caught in the dump
which would really result into holding like forever situation and thats the start of those kind of regrets that they shouldnt have entered on that one.
This is a common scenario thats why you should really be careful.
I strongly believe that the main reason why people FOMO (fear of missing out) when a coin is pumping is because of inadequate research. If you did research about a coin you would get in at the right time, instead of jumping in when the price has moved already.
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
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
IMHO mainly because they think that pump was because of something big that's gonna happen, and it's gonna increase more.
Usually it doesn't, or it has a nice dip before it goes back up again
It's called fear of missing out (FOMO). It happens anytime a coin is pumping. Sometimes it may pay those who hop in early if the coin is on an overdrive but late joiners usually get burned. In the case of projects that want to do airdrops, people still FOMO in irrespective of the very high price because of the extra/new coin reward. But it's not a good trading strategy.
usually beginners who often become victims of FOMO, buy when the price is high because they are deceived by the discussion of many people who predict the type of coin they will buy can increase sharply in the near future
I think it is still very natural to happen to every newbie because they are still very inexperienced and less thorough in checking the news on each token, so they can easily get trapped and become victims of FOMO.Jump to: