Why FOMO when a coin is pumping

[cryptoaddictchie]

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

Of course they fomo with the idea that it could go off the charts. Fomo is something they don't want to left behind, it's common these days and majority ended up losing much more money. The term is quite harsh but they literally gambling a possible loss here. I'm not sure how to put it but there are some fomos that are good and bound to be succesful but that's limited of course.

[Stoicreddy]

All it takes is Patience.

I have read that people bought Doggy (DOGE) coin when it went up to $ 0.4 and it has came down to $0.2. Most of them would have sold it, at the time of writing this reply it is trading at $0.47.

People who waited patiently for the price to fall down when it went up to $ 0.4 are the ones who makes it, rest of them due to FOMO buy at the level $0.4 and waiting for the price to go up, they should have waited patiently for the price to fall down.

[Jackl87]

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

Well i think it's just in the human nature. If you see, that for example Ethereum is pumping like crazy and if you don't have any ethereum yourself yet then a lot of people are thinking: "Maybe it will pump even more, i want to be a part of this crazy bullrun" and buy into Ethereum too. What can happen by doing this of course is that they buy ETH for the highest possible price and then the coin starts dumping. It's not a secret, that you should not act out of emotions when you are trading but you need to stay calm and act in a objective way.

[KaliLinux]

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

It is because up on till now, no one can really predict the market because if they do, they would have invested before the price starts to pump and also because, investors would believe that the price could continue upward and FOMO in when it might actually be that it is about to come down since most investors dont really invest for the long hodl but for the quick gains, this will surely happen.

[xSkylarx]

Simple answer, people want to take the opportunity to earn from that hype. This often happens when coinbase announces that they are going to list a new crypto in few days. The coins suddenly pumps and many people are fomoing to that coin before it is listed on that platform. They don't consider the risk of buying at the peak price of it. For me there is nothing wrong with FOMO buying as long as you are early to buy when news or huge update of that coin is just announced. What I don't get is why some people still buy if the price has gone up more than 30% already.

[sulis sudibyo]

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 want to make a profit but do not have the ability to analyze the market. they think it might be safe to buy at that time, but in fact they buy at the peak. FOMO occurs because they are impatient and inexperienced. I also used to get stuck in FOMO when the market was rallying. at the end I lost even though the market was bull.

[akirasendo17]

This mostly happens for people who are just weeks or months in trading even traders who are trading for a year fell for this, why? because as a trader or investors we want to take profit, for newbies they don't know what to do they just buy coins because they don't know the patterns their lack of experience put them in that situation, and even the experienced trader sometimes makes mistakes.

[blue_nexus15]

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 is the reason, DYOR is always encouraged in any circumstances or problem. For me, FOMO is a trap, it is a double-edged sword.
If you don't see the problem, you will be lost in failure, panic. The charm of the community is just superficial, it will pull you by fascination.
Don't trust anyone and don't rush into it.

[Luffygroove]

FOMO is an abbreviation of Fear of Missing Out. It's psychologically explained that people emotionally want to join the ruckus and hoping to gain some profits when more people buying. FOMO can also be a strategy for people who are doing pump and dump. They create hype to attract "naive" people to buy, after people buying at a high price, then they will dump it. These "naive" people will be scared to death and sold at a cheap price. People who already sold at a high price will fill their bags and if it's enough they'll pump it again and so on. In my opinion, these "naive" people are victims. So let's not be those "naive" people.

[danherbias07]

It's not easy when you see something you support before is going up while you regret it everyday because you sold early.
That's when FOMO happens. I think we have some people in the forum who experienced that because Bitcoin was the good example of it.
I am one of them. Sold it when I thought it was a good selling point but now I am still waiting for the buyback price.
This price now is just too expensive for me. I want to at least get near my sell point and I know there will be a time for that.
So emotionally, if you can control it then it's not FOMO. Yet. 

[Traderbtcc]

It's simple, they don't want to miss out on the opportunity to make some profits, because they have it in mind that the coin will keep going  up, which most times it always goes the other way round and they end up in losses, I don't know why so many people fomo into buying a cojn only when they see it mooning, some even buy at all time high and its really funny cause they can't make much profit buying at all time high, unlike buying when the coin dips.

[SarangWallet]

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

I think this was due to panic. They tend to be attracted to any coin when the price increases, and resell when the price drops suddenly. So this is what causes someone to often lose in trading.

[Febo]

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 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. Best is to have a plan. To sell some % when price increase this much. Lets say 10% when price doubles. and buy 10% when price halve.

[agg2702]

There are several reasons in fact, one of them is that most of the people who are just starting to trade, in other words, can be said to be beginners who don't understand and immediately buy when the price is rising, especially for coins that are pumped.
besides that, there is also Fomo and even a lot of Fomo who don't want to miss the profit from there, so from that a lot of people buy even though the price has gone up too far in the hope that they can take advantage even if only a little. although a little dangerous but in fact most of them are like that

[xiboothrezi]

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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

greed is a human trait.  when you see someone who gains, there must be people who feel jealous, so they want to get that profit too without considering the circumstances.  so rush to join for fear of losing the moment.  in fact, panic buy and panic sell like that is very bad, trading or investing just because of lust will not give a profit because common sense has been defeated.  things like this are usually done by newbies who don't understand the cryptocurrency ecosystem, so they just join in, and want to profit instantly without doing analysis.  Finally, it is often the loss of buying at the top and prices falling later.

[Fivestar4everMVP]

FOMO have become one part of crypto which i dont think will vanish any time soon most especially, among the newbies, ive been there before and i know what it feel like, people always try to catch an already flying bird which is close to impossible, some  are sometimes lucky by the way, but the fact remains that most the times, FOMOing into a coin always ends in losses and tears.
ive FOMOed into a coin several times when i was still new in this space, sometimes i was lucky to make small profit and most other times, i ended up getting burnt, one experience which i had and quit FOMing was with a coin called EMC2, i FOMOed into this coin with 1000 usd, the price continued to go up quite alright but after some hours, price started going down, in about 6 hours, whats left of my 1000 usd investment was just 290 usd, it was a very bad experience for me, i ended up selling at a great loss, since this incident, i stopped FOMOing.

[junkerr]

FOMO have become one part of crypto which i dont think will vanish any time soon most especially, among the newbies, ive been there before and i know what it feel like, people always try to catch an already flying bird which is close to impossible, some  are sometimes lucky by the way, but the fact remains that most the times, FOMOing into a coin always ends in losses and tears.
ive FOMOed into a coin several times when i was still new in this space, sometimes i was lucky to make small profit and most other times, i ended up getting burnt, one experience which i had and quit FOMing was with a coin called EMC2, i FOMOed into this coin with 1000 usd, the price continued to go up quite alright but after some hours, price started going down, in about 6 hours, whats left of my 1000 usd investment was just 290 usd, it was a very bad experience for me, i ended up selling at a great loss, since this incident, i stopped FOMOing.

The problem for new people is that they don't know when to quit their trade. Entering the hype and FOMO when prices go up will leave new traders and investors trapped in a correction.
I've seen a lot of people get consumed by the hype and FOMO.

[irixo10]

To be frank, in this bull run I have seen a lot of people fomo into coins because it's pumping or because their friends shared their screenshot of their gains and so on. They do so without having a second thought on what if it downtrends and never reach their entry again, but no they just do it because they don't want to miss out. Also, to be frank, I think the only reason why people fomo is just not to miss out and nothing more, but yet they miss out on the profit in most cases and ends with losses.
Nevertheless, there are coins which people think they can fomo into because they will keep growing even if it dumps but in such instances it is quite better to wait for correction and entry, such coins are BNB and ETH.

[tabas]

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.
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.

DYOR is very important. If you don't do that, you'll be ending up buying those coins that have been hyped up and you'll believe that there's going to be something that awaits for that specific coin.
But in that manner, you'll be having a bad day because when they see that a pump happens, they'll be able to sell it at profit while leaving you new buyers of it.

[Cappex]

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 the nature of man is strange, you seem to miss a great opportunity and get on a moving train without knowing where it will take you and it is easy that the hype is ended.
people are also lazy and don't study, buythedip and sellthetip