But in some time as long as the market is still on a negative trend it actually scares the holders. those of us who are attacked by FUD in several times have the potential to sell assets, FOMO is very difficult to look for because of the thin hype in the trend. we now see that FUD is even easier to deploy.
In a bear market like this. FUD is more prominent since most of the whales in this time want to continue the bear market given that they will re-enter the market and reinvest the profits they gained during the bull market. FOMOing on this kind of market scenario will be inefficient since most of the people are thinking negative in cryptocurrency after they lost money on the start of bear market. I'm doing DCA today and at the same time I'm also trying to capitalize the sharp dips and big FUD events in crypto just like what happened this week between CZ and FTX.
^The reason why the market struggling too much at this moment to rise up.
It becomes prolonged because many people will do the same as others who get FUD and the effect will spread. FUD will always be there because of us who did not believe in BTC the price suffered to increase. But I know there are some people who have faith in BTC, they hold it for a long purpose, and probably those countries who invested in BTC are also holding it right now, especially El Salvador.
However, CZ and FTX has now have an effect on the market.