Resist all temptation to fomo

[Crypto_lion]

Im sure we are all aware what fomo means.

Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously

Do a proper root research before getting into altcoins, resist all temptation to fomo.

Because when btc moons, the dead alts can rise momentarily only

NB, FOMO is not a good feeling during the bulls

Well while it seems obvious that the fomo should be avoided while selecting the coins or projects to invest in it hard to resist the temptation . I am speaking this from experience and it makes you regret the decision you make. It's better to make a complete research and the project members before investing.

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[Jannyh]

Sometimes I think it's good to act according to the trend, especially for traders,they should seize the opportunity to trade alt while bitcoin is moving to make some profit but for hold and long term investment,I think one should do proper research before investing, don't just jump into any altcoin because you see it making an uptrend movement

[Genemind]

I already opted out of altcoins after bitcoin hits 10k, its better to rely on bitcoin than altcoins because I feel this is not the bullrun we've been waiting for, its just a hype market about bitcoin upcoming halving in few months

I just did the same thing because I find a greater guarantee of gaining a better profit with Bitcoin because of its potential. Most investors are carried by the hype which is leading them to regrets and losses. It's better to look for altcoins with good potential or better choose Bitcoin rather than listening to fomos. Not all altcoins would rise when the market situation gets better.

[Rosilito]

Sometimes I think it's good to act according to the trend, especially for traders,they should seize the opportunity to trade alt while bitcoin is moving to make some profit but for hold and long term investment,I think one should do proper research before investing, don't just jump into any altcoin because you see it making an uptrend movement

You got a point, buddy. And it works, IMO. Reiterating your first statement, it best work in short term basis which I agree but you must be in recent trend before diving otherwise you might be leading to other result. The only catch here is that, you literally have no idea behind besides of it being a mainstream (lucky if you knew so you'll have a choice on when to pull out), well it ain't no bad thing but it is totally a bad practice, 'cause as a trader you always need to be aware of your surrounding, aware in means of knowing what's up on such on going stuff not just because majority are into it.

[TrevorS]

I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

[kindbtc]

FOMO is real everytime market pumps and Fud or panic is real when market dumps, i have myself tried to avoid both these conditions most of the time but i have to admit that i still usually get caught in fomo and end up in loss and that goes for both new projects or established and top coins even recently i bought one of my favorit ada when it was over 6 cents and i thought it will hit 10 cents as bullish momentum was good but if you check now it is trading around 4 cents that proves it was just a short term pump and nothing big yet so there was no need to enter at that time.

[Wysi]

Yes, when you posted this FOMO was the issue as people were buying like crazy without learning from the past and right now while I am typing this it's the panic selling and fud which is dragging the market further down, I think most of us will not be able to control their emotions when it comes to FOMO or panic selling and next few months will be more chaotic than ever due to bitcoin halving and we will notice people doing the same mistake again.

We need more posts like this to spread awareness amongst users about minimizing FOMO and panic selling.

[Kasabus]

I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

Riding in FOMO is still good if you know how to handle your investment but it would prevent you from more chances of losing if you stick with your original plan to buy coins when the price is in dump. Buying coins at its peak price is not really advisable as the market is very volatile and its price is prone to changes any time.

[Banadony]

both altcoins and bitcoins are birds of the same feather. None of them is stable. today over 51,000 accounts got liquidated because the price fall of bitcoin. we have never calculate how much people loose in altcoins. the crypto market is too fragile that people will get rekt easily and also make money easily. there should be a call for market control just like stock markets can halt the stock market to avoid much market loose.
Such move should be introduced into crypto to save the people funds.

[Botnake]

I think those people who succumbed to FOMO last time learned a lesson and therefore will not be inclined to repeat these errors with the next growth.
However, there are many new people who will probably want to invest in cryptocurrencies at the time of their peak growth, it is these people who should be protected from making such errors by disseminating information about previous events in the cryptocurrency market.

Riding in FOMO is still good if you know how to handle your investment but it would prevent you from more chances of losing if you stick with your original plan to buy coins when the price is in dump. Buying coins at its peak price is not really advisable as the market is very volatile and its price is prone to changes any time.

Riding FOMO is only the game for the professional  as they know how to do it with timing, for newbies who rides with FOMO, most of them will fail and will just end up a bag holder, we've seen it last 2017 or the year of bull run and until now I can still read some comments saying they are already holding worthless coins they bought at peak, their mistake is they hold for long term what they bought during the bull run.

[gaston castano]

I don't think that when the market is bullish, the alt will also increase.
the increase in btc we saw in the last few months is not up, which is why alt does not directly follow the price of btc, and will increase when the btc is stable. whereas, when the bull, all currencies rise together, because there is a huge market momentum that makes all currencies rise.

[Vaculin]

I don't think that when the market is bullish, the alt will also increase.
the increase in btc we saw in the last few months is not up, which is why alt does not directly follow the price of btc, and will increase when the btc is stable. whereas, when the bull, all currencies rise together, because there is a huge market momentum that makes all currencies rise.

The increase is not enough to cause a bullish run for altcoins.
Bitcoin has fall from its high this year of over $10,000 and now currently trading below $8000.

I believe there will be a bull run if bitcoin will be stable on its increase, to be sure there is an altcoins bull run, bitcoin has to achieve a new ATH.

[Furryball]

There is nothing left to run after in crypto space anymore unless my source feeds me wrong information, it's better to exchange your coins to USD if you aren't ready for the upcoming bearmarket, this happens because of the present crisis on the economy and of cos the coronavirus outbreak that's still yet to be fixed

[Questat]

There is nothing left to run after in crypto space anymore unless my source feeds me wrong information, it's better to exchange your coins to USD if you aren't ready for the upcoming bearmarket,

That's the right thing to do if you want to get ready on the bear market,.. the question is, is there really a bear market? Why are we overreacting, bitcoin is still at a good price, remember the entry price this year was $7000+ and bitcoin is back to $8000 now.

this happens because of the present crisis on the economy and of cos the coronavirus outbreak that's still yet to be fixed

Hopefully we the crypto market is the saver for those who panic due to corona virus.

[Latviand]

Every investor has their own way to earn peofit. Aome are just going with the 'flow', but for sure, they are aware of what they are doing. Investing into crypto would give you freedom to do so but be sure it won't lead to regret. If an investor would be carried away by the hype, then it is his choice and we should not blame them if they would invest on some alts in which in the eyes of the majority won't be profitable.

The market value of Bitcoin is anticipated to increase but that does not mean that there is certainty for the market value of altcoins to also increase or show parallelism. Although such thing happened before, we cannot be sure that that is what exactly would happen this 'time'. So if you are an investor do not be afraid and make your own decisions. Fomo is somewhat normal because you are conscious with what could happen to your money from investing. But you should deal with the risk, because it is investment you engaged yourself with in the first place.

[coinfinger]

Some people thought that the price of BTC will keep going up when it reached $10,000, they thought that’s how it works, they forget that Bitcoin is a volatile asset and it doesn’t go up at all times, same thing with other cryptocurrencies that are volatile.

Now that the price of Bitcoin decreased and same thing with assets like Litecoin, ETH, BCH and the rest of them, a lot of them now saying that cryptocurrency has failed them especially in this time of Coronavirus😂 funny thing is that they forget that a lot of assets like Dows, precious metals all faced the decrease in price and gold fall was around 3% or so, not much though because it’s a stable investment. Since cryptocurrencies are volatile, their fall will be high for sure.

[Chuky92]

Im sure we are all aware what fomo means.

Bitcoin has indeed ran a good race to over 10 000$ and it has pushed up the prices of altcoins simultaneously

Do a proper root research before getting into altcoins, resist all temptation to fomo.

Because when btc moons, the dead alts can rise momentarily only

NB, FOMO is not a good feeling during the bulls

Anyone who can adequately overcome Fomo has succeeded in learning the important basics of the crypto space. Fomo dealt with many traders who later learnt and also, it is still dealing with a good number of traders till today, it is something that should be avoided at all times no matter how tempting it is to enter that trade or market. Also, you made a good point about altcoins, when the market booms some dead altcoins will show little sign, but it is just to get to investors etc hence the reason why no matter how good the altcoin might look during that time, make your research properly.

[TheICE007]

You are right,FOMO ( fear of missing out). One thing every investor should know is that there are other opportunities if you are not lucky to get into a particular investment,do some more research and you would be happy you did,and you will find another opportunity to invest in.

[prof7bit]

You are right,FOMO ( fear of missing out). One thing every investor should know is that there are other opportunities if you are not lucky to get into a particular investment,do some more research and you would be happy you did,and you will find another opportunity to invest in.

People basically make a lot of mistakes related to finances. I think that we should continue to hope for the development of the cryptocurrency market. I will look for money to buy Bitcoin for $ 5000.

[ife2020]

NB, FOMO is not a good feeling during the bulls

Let me take this as an upgrade or version 2.0 of the initial post.

After going through the comments in the thread, i think the best and most appropriate way to resist temptations to fomo is by feeding ourselves the right source of information.

We need to ensure that our twiiter follows, facebook notifications, and email newsletter are from credible, eligible and true source of crypto currency news, that way, we don't get reactive to fake news, or fuds neither fomo.