FOMO In Crypto; How to identify It

[hassancisse]

FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

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[GreatArkansas]

There are also times that being FOMO is positive; high-risk high reward.
You entered a trade on the top but you still can profit it, just like riding along with, that's why it is a risk. It's like catching a falling knives if you enter a trade because the reason is just a FOMO.
But I saw some traders who tried to make profits on it, they entered a FOMO trade but they exit in after a short period of time or once they already in profits.

[carlfebz2]

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

Cant blame up everyone on having that FOMO situation.Why? we are just humans and when emotions do sets in then it can hardly be stopped.

You have mentioned all of those points above but actually finding it initially or earlier phase is hard because you wouldnt know if that one is

just a fake out or just literally a bull run and of course, as an investor you would surely think that if you do miss out the train, you cant have the
same opportunity once again.

[bigcash2011]

FOMO is very bad if you enter late or near the peak of the price but there is another side of the story if you have fomoed in right at the start or as soon as the price breaks out and you have accessed the situation correctly and price is growing with good momentum then you have a huge chance of making big returns. So it is about calculated risk and it is not always bad but yes most of the time people do get trapped.

[pawanjain]

Those are some good points about FOMO and how to identify it. But FOMO generally comes with a sudden change in the market.
Hence it would always be something that you can't control.

In my perspective, FOMO is bad for everybody since we can be really be stressed because of it.
We would always think about the investment and price and that will distract us in our life.
A successful trader must have the ability to be patient and should not worry if there is any FOMO.
Opportunities keeps coming and we should believe that if we didn't make it in the current market then may be we will do it the next one.

[FanEagle]

The best case is to see the price jump way too much than it should. There is really no easier method then checking the price of any coin. If you see something going up over 10% and you want to buy, that is FOMOing and you should not do it, same with going down as well, do not worry when it goes down, just buy it discounted.

People do get into bitcoin and other crypto when the price suddenly starts going up, but the reality is you should have bought before it went up. Many people keep saying "how could I know when it will go up before it does" like it is impossible to guess, but look at the price on any other day, you will see that price is not going up every single day, it is usually either going down or staying around the same prices. Buy when it is like that and only sell when it goes up.

[timmmers]

Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.

[milewilda]

Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.

LOL! They cant just publish out news if it wont reflecting the current price movement but you do actually have the point because news sites do commonly wrote up into these times but just some pure presumptions and
most likely you would able to see hyping speculations floating around by those so called experts or popular person in the net which do talk about ridiculous numbers on where it do add up the FOMO thing.
You can identify it if you do have the sufficient experience towards this market.If you do know on how these things works or do exist then you would really be aware on your actions that you should made.

[carter34]

Its easy, FOMO is here every time when big newspapers that normally do not write about Bitcoin, just write about huge Bitcoin´s growth. Then many people see easy money and they start looking for buying some cryptocurrencies. And this is the worst time for invest in most cases. Because you should do the opposite than what most do.

Sure FOMO comes when traders observe huge buy or sell activity in an exchange, that triggers sentiment. But I'm not against people having excess money and try to invest it. If such huge investment is seen people get scared.

However, doing proper research on the reason people take a huge order, it will help you to know which direction the FOMO direction is so you can wait for drop to buy low.

[hassancisse]

There are also times that being FOMO is positive; high-risk high reward.
You entered a trade on the top but you still can profit it, just like riding along with, that's why it is a risk. It's like catching a falling knives if you enter a trade because the reason is just a FOMO.
But I saw some traders who tried to make profits on it, they entered a FOMO trade but they exit in after a short period of time or once they already in profits.

You said it all high risk high reward. I wont want to take that type of risk because jumping in a moving train is not worth it you can lose all the amount invested if you enter at a very wrong time. Its not applicable to only crypto trading even forex trading

[Bright_dhykseen]

FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

I agree with this. But I believe there is no trader that doesn't undergo FOMO.

We just have to be mindful of our emotions and learn to control them.

[hassancisse]

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

Cant blame up everyone on having that FOMO situation.Why? we are just humans and when emotions do sets in then it can hardly be stopped.

You have mentioned all of those points above but actually finding it initially or earlier phase is hard because you wouldnt know if that one is

just a fake out or just literally a bull run and of course, as an investor you would surely think that if you do miss out the train, you cant have the
same opportunity once again.

That is why you dont want to put in your emotions while trading because you will really make a wrong decison and jump in on a moving train which is not the best thing to do at all

[hassancisse]

FOMO implies Fear of Missing Out. This is a serious issue when it comes to crypto trading and it has at least happened to you in crypto before because we all dont want to miss out and start regretting later. The crypto market remains young and unstable hence the price of most coins largely depends on how many people believe in their potential

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis
2. When you start saying to yourself you should have gussed the price would go up
3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

As you can see FOMO traders prefer to pursue the crowd rarther than sitting down and doing their own personal analysis of how far the coin can go.

I agree with this. But I believe there is no trader that doesn't undergo FOMO.

We just have to be mindful of our emotions and learn to control them.

This is why i want to leave out my emotions. i am not jumping into a trade without  my good analysis done. I will do my due dilligence before i enter a trade

[realinks]

Yes.There are lot of coins that they pump and dump so while pumping a lot of people will FOMO and later it will dump. But what of coins that actually are moving up without pumping without dumping an example is Unibright. It was quiet for about a year and in the space of one month it has gone to the sky assuming you fomo for such coin maybe when it was around 0.1 you would still profit.

[hassancisse]

Yes.There are lot of coins that they pump and dump so while pumping a lot of people will FOMO and later it will dump. But what of coins that actually are moving up without pumping without dumping an example is Unibright. It was quiet for about a year and in the space of one month it has gone to the sky assuming you fomo for such coin maybe when it was around 0.1 you would still profit.

That is why a good research about a project is needed of the capability of the project. You just have to know that you cant know about all the good projects in the crypto space you will just identify one or two then you are good to go

[Oasisman]

Everyone is fomoing, even the experienced traders. Because, some traders and investors could actually gain profit from it.

How can you Identify FOMO
1. The first symptoms of FOMO is when you see so many people buying the coin and you start thinking all of them cannot be wrong. You also jump inside without doing any proper analysis.

When you see a lot of people buying, I don't think you need to make further analysis regarding what's the fuss behind the massive buy out. Again, you will FOMO.

2. When you start saying to yourself you should have gussed the price would go up

The reason why you don't need to waste your time to analyze the situation, because If you do you'll probably buy at the peak.

3. When you start saying that there must be something about this coin that other people know and you dont know.
4. It would be silly not to try. Let’s see how much money I could make.

That's it. Buy early to make good profit.

However, there's always a corresponding risk when you engage in FOMO.

[chip1994]

Yes that's one of the signs that you have a fomo mentality. This is one of those psychological types that shouldn't be because it's very dangerous. This effect is only available in the crowd and inexperienced people in financial markets. And for experienced people like us, we must know how to analyze carefully before following the crowd. This Fomo effect has made a lot of people lose a lot of money, for example that's the price push of Matic of a manipulating team. when the price was x8 compared to the old bottom, the team sold out in just 2 hours and made a lot of people lose money because they trusted Matic.

[Krabby]

Not only in crypto, fomo psychology takes place in all areas of the world. And this is the kind of psychology of the crowd, people often get lost in the direction and don't know what to do if they have this psychological symptom. The crowd is not wrong, it's just that we lost our way in speculation without any analysis. Sometimes we also need Fomo to create a new wave but I recommend everyone to learn before engaging in speculation. Analysis and planning will be two very important things to help you not be trapped by the whales.

[target]

When several users get to shill for a project sometimes it triggers FOMO to it and when the price slowly goes up, users are just looking for reasons why that they check the twitter posts of the project for there could be something.

Maybe driven by greed, some will just buy when they see its price climbing up. If you are going to be doing this, you should also be dumping when you see prices begin declining too and look for a pump and dump groups.

[Yaunfitda]

The first sign of FOMO is that you will noticed that a certain coin is being promoted by so called crypto influencers. It could be in facebook, twitter or any other social media platforms and it will cause this so called FOMO.  What happens next, is anyone's guess, you can join the FOMO early and then exit when you have profited already. Or worst, you believed in this project and really think that it is the new big thing, unfortunately, it's too late when the dump comes along.