This is the most common way in which inexperienced and sometimes even experienced traders lose money: FOMO. The fear of missing out, it taps into that part of your brain that makes you impsulsively spend money at the shops or get tricked into buying a time share by a salesman.

We witnessed the perfect case of FOMO in late 2017 when Bitcoin went on a rampage and hit $20,000 USD. Nobody knew when it was going to stop, it was possible that it could have gone way higher and then the price started to tumble.

I saw many traders angry they bought in at Bitcoin's all time high around $19k thinking it would continue to rise. At the time of writing this, Bitcoin is hovering around $6.5k (quite a drop, eh?).

FOMO trades will lose you money. It's possible you might get lucky and buy into a wave mid-way and get out unscathed, but there is a higher than average possibility that you'll lose money.

All coins eventually correct, it doesn't matter if it's Bitcoin or Litecoin: all coins eventually correct. Corrections are a normal part of any healthy market, it's unhealthy for something to just keep climbing in value.