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
Yes, that's how you describe that hustle. At first, they have thought that the price would continuously going to increase and that's why in some reasons.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 are buying the coin that pumps in a thought that there will be another increase that will happen after they purchase. It's just the same as the other markets like in stocks.
And also because they are holders of that particular coin, why they try to increase its price by spreading FOMO feelers in the community. And for those who have no idea what's going on, some will ride the hype and usually it is already too late before they realized that they bought bag of worthless coins. So before convincing yourself in this kind of hype, make sure that you also dig some background of the coin. Because if it is empty, you can very well see it on their website.
