Why FOMO when a coin is pumping

[yazher]

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

That's their own way of investing and maybe they find some comfortable moves when the price will rise again. You just don't know but I think, they have their own strategies when the price is not looking good in the market. these people are not just here to throw their money, maybe they're having their own interpretation on how successfully invest in the current market situation. Because it is not possible for these guys to repeat the same mistakes all over again. there might be something fruitful behind this phenomenon and only those who are doing it knows how it works.

[Oasisman]

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

Because they believe a shitcoin could make them rich over night, and that It would never stop pumping without going back down.
I have seen several new comers in crypto market who had enough hype that they actually bought alts at the current price thinking It could never go down. I suspect they'll dump it right away once it's corrected. They're the ones who's easily panicked, especially If they're holding a shitcoin lol.

[TribalBob]

there are two possibilities when they buy, first they don't want to miss the ongoing bull run even if they get a profit that is not optimal like if they bought when the market was not yet rising
the two people are classified as people who have more money and deliberately buy tokens when Fomo
and ordinary people who join at this time people who are new to knowing and knowing crypto buy coins at fomo

[motun01]

My friends and I are always like that in the past. When ever these is a coin that we fancy on, we just talk about it but unfortunately we don't have the money to invest in. But the problem is once we have the money, it has already went so way up that we regret not having the money at the time. Many years later I already learned how to do day trading and I was able to earn everyday now. I am teaching my friend day trading as well, so that even if there is bull or bear at least they will earn.

I think learning day trading is a very good move in the crypto and other financial markets today
This is Because a lot of the concepts you learn from interpretation of charts, candlesticks and market structure will help you to frame a knowledge of how the price moves in the markets and help you avoid FOMO when a coin is pumping and also help you to make informed decisions when buying cryptos

[olabiyijummy02]

My friends and I are always like that in the past. When ever these is a coin that we fancy on, we just talk about it but unfortunately we don't have the money to invest in. But the problem is once we have the money, it has already went so way up that we regret not having the money at the time. Many years later I already learned how to do day trading and I was able to earn everyday now. I am teaching my friend day trading as well, so that even if there is bull or bear at least they will earn.

I think learning day trading is a very good move in the crypto and other financial markets today
This is Because a lot of the concepts you learn from interpretation of charts, candlesticks and market structure will help you to frame a knowledge of how the price moves in the markets and help you avoid FOMO when a coin is pumping and also help you to make informed decisions when buying cryptos

Trading is actually a skill that every serious cryptocurrency investor should have a knowledge of, even if you dont have an advanced knowledge of trading, the basics will save you from making wrong decisons on your present cryptocurrency portfolio.
Sometimes people make a mistake of selling off their holdings at a discount and buying at a premium.
Trading knowledge will easily save you from making this mistake.

[MonaLeeTracy]

Fomo's goal is to raise prices. people when the market is bullish and it goes up when it will be more money to be able to raise prices. like now the doge coin which has been in the form of many people and also in the media plays a big role in the news which makes the price of Dogecoin increase as it is today. when there is fomo you have to be careful because this could be a trap if you are late to buy the market will go down quickly

[TheUltraElite]

Because it is simply hard to buy when price is low or is losing value and it is hard to sell when price ids high or coin is gaining value.

I think first one becomes a little easy when you have faith in the asset you are procuring. Like for a bitcoin user who knows how well bitcoin can be doing in future given in case governments allow cryptocurrencies they will buy it at the next level. Same could be said for the altcoins too but they are always secondary to bitcoin.

The second statement that you made, is a logical one. You dont want to sell all your asset in one go when the price is high. You need to cover some losses you sell a partial amount and hold the rest. When the price goes down you buy back again. This cycle needs to be done to prevent FOMO and FUD and to keep yourself mentally sane with the rise and fall.

[Ararbermas]

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

actually mostly enthusiast just want to make quick profits on this circumstances. And yes they buying when every time they saw a pump in the market  because they miss the train already wherein in order for them to have atleast small profits on the current situation they will buy when bitcoin is down and sell off when it pump up to the resistance to avoid losses especially if the growth rate have no stable growth.. For me its a good idea but unless if you have very accurate tools to monitor the real movement of the coin because it's safe..

[pelumi20]

It's just as you called it, "hustling backwards". Those type of people failed to do their assignment about a coin before investing in it, they don't have a clear investment strategy. All they do is to buy any coin people are talking so much about and pray it goes up.

[udidrone]

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

Me, with my experience that keep get FOMO, i can't do analysis by myself. And sometimes i only follow signals in some groups. Actually people don't want to be FOMOed but sometimes we're not want to missed the train or maybe want to take chance although only small. But sometimes, they are too late to jump to the train and make them lose. But i believe there are although not much, can gain profit too in a coins that already be hyped.

[Woodie]

I always wonder why a lot of people fomo to buy a coin or token after the price has pumped.

Herd mentality!

Which is why it's easy for whales to manipulate markets because most people don't know how to read charts and fall for this trap.

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.

I thought people are dumping less with price being not so volatile.

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

Gambling hoping to make the best from the pump.

[MrcMrc]

Fomo is always associated with weak hands who always rush to do everything, fomo leads to high buying and panic selling this have to lead to so many losses. In cryptocurrency, patience is a virtue that safe you from losses and also helps you make profits.

[jinxing]

Fomo is always associated with weak hands who always rush to do everything, fomo leads to high buying and panic selling this have to lead to so many losses. In cryptocurrency, patience is a virtue that safe you from losses and also helps you make profits.

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

[Coin_trader]

Fomo is always associated with weak hands who always rush to do everything, fomo leads to high buying and panic selling this have to lead to so many losses. In cryptocurrency, patience is a virtue that safe you from losses and also helps you make profits.

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

Some of this FOMO just want to ride the waves after seeing the gains continuously rising. They were just too greedy enough for not taking profit before the boat sink. But I agree that most the newbie always head to telegram price discussion channel of a certain coin before they buy it to read comments. Many of the old holders do shill that's why many newbie become victim once they sold there bags.

[BitcoinPanther]

So i wonder why they FOMO to buy in the first place

The possible reason why they FOMO to buy simply because of greed.  They FOMO because they thought that the coin they are buying will surge and they can get a huge profit from it, so without taking into consideration the risk involve such as the possibility of market crash right after they FOMO.

[Fredomago]

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 are of course worried about being left behind to get profits in a fast time, usually this often happens when market prices rise, FOMO occurs when they just follow the trend to get an opportunity, without any research whether the market price will continue to increase or vice versa, of course this way  can cause losses when market prices suddenly experience a prolonged decline

And if you both at the peak and the market cycle ends there, FOMO's usually happened with traders who wanted to ride with this opportunities, belieiving that chance happen once.

Sad thing is there are people who aside from fomoing also do all in, thinking that the fast market run will bring them mych better
profits placing all of thier investment and gamble cause them more losses.

Be very careful and always act according to how you understand your chosen investment.

[nimogsm]

There's no way to explain this event,it's like mass madness.I have several friends who bought doge and are waiting for further growth and constantly ask me for crypto.This is terrible)

[Bilgent]

It must be like an instinctive thing for this kind of people. They don't want to miss the train and want to jump in. But in fact, one should be very careful about their investments when there is a bull market going on. Because it can end any second and it may not be good for that kind of investors.

[Tomtomwole]

its always a difficult thing to see an opportunity and want to miss out on it especially when you have people that are close by and talking about how much they have made so far. this is one of the reason why people just take the risk and most times it turns out to be dip and they sell off at loss  because of panic and then move up after they sold. fomo needs to be done wisely.

[nightwishx]

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.

What can you expect from a beginner? most of them want to quickly get high profits in a short time, but they are not aware that crypto fluctuations are very high and buy crypto at high prices because FOMO is a common mistake.