Don't buy bitcoin only because of FOMO

[KingsDen]

The decline will occur when the Bitcoin halving occurs, because all investors have predicted it. This is normal and always occurs in a 4 year cycle. so we don't need to panic, keep holding our coins and if we have the funds we can buy when the price really goes down. because the bullish season is predicted to occur next year.

That's right, only those who buy at high prices will feel panic, for those of us who already know the right position to buy coins, we will remain calm and try to wait until the price is high and sell the bitcoins we bought during the bearish season.

Many people said the market took them unaware and it is very high, that they are waiting for correction. As we speak bitcoin has corrected and back to $60k, what have they done? They are waiting for more decline and before they will understand, the price will pick up again to progress to the bull run and then there will be more bugs because of FOMO. So, there's definitely gonna be FOMO buying, it's part of the cryptocurrency industry.

[dwyane36]

Many people said the market took them unaware and it is very high, that they are waiting for correction. As we speak bitcoin has corrected and back to $60k, what have they done? They are waiting for more decline and before they will understand, the price will pick up again to progress to the bull run and then there will be more bugs because of FOMO. So, there's definitely gonna be FOMO buying, it's part of the cryptocurrency industry.

I think expectations of a deeper correction are justified in the current market conditions, but we need to keep a close eye on whether the bears can break the support around $60-61k or not. If they can, the BTC price will most likely dump to $50-52k. Alternatively, if the bulls take the initiative and can push back from the current level, the BTC price will return above $70k.

[DabsPoorVersion]

Many people said the market took them unaware and it is very high, that they are waiting for correction. As we speak bitcoin has corrected and back to $60k, what have they done? They are waiting for more decline and before they will understand, the price will pick up again to progress to the bull run and then there will be more bugs because of FOMO. So, there's definitely gonna be FOMO buying, it's part of the cryptocurrency industry.

I think expectations of a deeper correction are justified in the current market conditions, but we need to keep a close eye on whether the bears can break the support around $60-61k or not. If they can, the BTC price will most likely dump to $50-52k. Alternatively, if the bulls take the initiative and can push back from the current level, the BTC price will return above $70k.

Hopefully not, I have seen someone in a social media group says that as we zoom out the chart on BTC, we can see that the chart is forming a cup and handle pattern. Meaning a bullish pattern that we can expect to see on the next coming months which might also be exactly the take effect of the halving. If the bear breaks the support and go deeper to $50-$52k range, who knows what will happen next or how long it will take for Bitcoin to recover and go back to green.

[Alston Liu]

Agree. The whole FOMO thing ate me up inside when I first started trading crypto currencies. Back then, I was so overwhelmed and tempted. The good news was I was pretty broke back then (I am not sure if it is a piece of good news) so it didn't cause a huge demange.

Now I realize this is kind of like a business and you need to take it seriously otherwise you will be the dishes. Make a plan for trade and trade by the plan you make. That's all I do now.

[doc]

Agree. The whole FOMO thing ate me up inside when I first started trading crypto currencies. Back then, I was so overwhelmed and tempted. The good news was I was pretty broke back then (I am not sure if it is a piece of good news) so it didn't cause a huge demange.

Now I realize this is kind of like a business and you need to take it seriously otherwise you will be the dishes. Make a plan for trade and trade by the plan you make. That's all I do now.

It's a good step to make a trading plan, because in investing we must have a plan, including determining the selling target for the coins we own. FOMO is something that makes us unable to rationally determine our steps in investing.
Apart from that, avoid hype coins because usually when the market suddenly drops, we are late in entering so we are trapped in high prices.

[alltalk]

I think expectations of a deeper correction are justified in the current market conditions, but we need to keep a close eye on whether the bears can break the support around $60-61k or not. If they can, the BTC price will most likely dump to $50-52k. Alternatively, if the bulls take the initiative and can push back from the current level, the BTC price will return above $70k.

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

[legend45]

I think expectations of a deeper correction are justified in the current market conditions, but we need to keep a close eye on whether the bears can break the support around $60-61k or not. If they can, the BTC price will most likely dump to $50-52k. Alternatively, if the bulls take the initiative and can push back from the current level, the BTC price will return above $70k.

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

I also agree with you, I don't think the price of bitcoin will fall below $60K, because bitcoin seems to have improved again and it is possible that the price of $70K will be reached as soon as possible, maybe next week we will see it. Many expect the price of bitcoin to fall further, that's just those who have prepared USD to buy bitcoin at a lower price

[BitMaxz]

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

There are still many FUDs I don't know if they are telling facts but for me, the price increase recently back to $63k this might be a sign of bullish reversal currently the price action of Bitcoin is trying to retest the $64k road it fail recently but let's wait tomorrow if it will success or not if it fails it will drop back to around $62k or maybe it would stay at $63k to retest the $64k resistance if its success we would see a big impact after block halving but I heard there is an upcoming correction? I don't know if it's true but if its true the price may drop later before block halving.

[dwyane36]

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

I also agree with you, I don't think the price of bitcoin will fall below $60K, because bitcoin seems to have improved again and it is possible that the price of $70K will be reached as soon as possible, maybe next week we will see it. Many expect the price of bitcoin to fall further, that's just those who have prepared USD to buy bitcoin at a lower price

It's good that the BTC price was pushed from $60k, but it's too early to be happy about it. We can talk about continuing the bullish trend only if the BTC price breaks through the resistance near the current ATH. Meanwhile, it seems to me, there is some uncertainty in the market. That's why BTC is trading in a relatively small range from $60k to $73k.

[Uruhara]

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

I also agree with you, I don't think the price of bitcoin will fall below $60K, because bitcoin seems to have improved again and it is possible that the price of $70K will be reached as soon as possible, maybe next week we will see it. Many expect the price of bitcoin to fall further, that's just those who have prepared USD to buy bitcoin at a lower price

It's good that the BTC price was pushed from $60k, but it's too early to be happy about it. We can talk about continuing the bullish trend only if the BTC price breaks through the resistance near the current ATH. Meanwhile, it seems to me, there is some uncertainty in the market. That's why BTC is trading in a relatively small range from $60k to $73k.

This morning Bitcoin experienced a decline to a price of 59k. But that only lasted a short time and the market returned to its slow rise. And as I write this, the BTC price is even above 64k again. And just now it has reached 65k again. And keep going up and down in that area. Maybe FOMO and fear are covering the market right now. People are scared and selling because of the news of Israel's attack on Iran. And there are also people who have FOMO because in a few hours the Bitcoin halving will come. And now the market has become uncertain.

[LUCKMCFLY]

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

I also agree with you, I don't think the price of bitcoin will fall below $60K, because bitcoin seems to have improved again and it is possible that the price of $70K will be reached as soon as possible, maybe next week we will see it. Many expect the price of bitcoin to fall further, that's just those who have prepared USD to buy bitcoin at a lower price

It's good that the BTC price was pushed from $60k, but it's too early to be happy about it. We can talk about continuing the bullish trend only if the BTC price breaks through the resistance near the current ATH. Meanwhile, it seems to me, there is some uncertainty in the market. That's why BTC is trading in a relatively small range from $60k to $73k.

This morning Bitcoin experienced a decline to a price of 59k. But that only lasted a short time and the market returned to its slow rise. And as I write this, the BTC price is even above 64k again. And just now it has reached 65k again. And keep going up and down in that area. Maybe FOMO and fear are covering the market right now. People are scared and selling because of the news of Israel's attack on Iran. And there are also people who have FOMO because in a few hours the Bitcoin halving will come. And now the market has become uncertain.

These days I have been thinking about that very problem that could be between a war between those countries, and if that happens it is not good for the market , obviously it will cause panic and many will sell to take refuge in the origin, it is the safest thing that the investors, but things for these investors are very changeable, and this morning seeing the news I realized that many countries have advocated for this war not to occur, even the country of Russia itself urged them to resolve the problem and Let them not pass it on to adults, I have seen that these Countries are very radical, for example Iran said that if they finish it they should live with the consequences because it was going to attack with everything, and last night Israel attacked, which I think As more than proving the problem, I hope this doesn't happen for anything in the world.

[doc]

These days I have been thinking about that very problem that could be between a war between those countries, and if that happens it is not good for the market , obviously it will cause panic and many will sell to take refuge in the origin, it is the safest thing that the investors, but things for these investors are very changeable, and this morning seeing the news I realized that many countries have advocated for this war not to occur, even the country of Russia itself urged them to resolve the problem and Let them not pass it on to adults, I have seen that these Countries are very radical, for example Iran said that if they finish it they should live with the consequences because it was going to attack with everything, and last night Israel attacked, which I think As more than proving the problem, I hope this doesn't happen for anything in the world.

Nobody likes war, they want to live in peace. And it's best to stop the war and find the best solution for both of them. Because war will have a negative impact on humans and the country's economic system and also have an impact on the global economy. Hopefully crypto will not be affected by this war

[legend45]

OP, I think that people invest in Bitcoin according to when they have the money they can afford to lose. Some people can find themselves lucky to invest in bitcoin when the price is low side and some invest when the price is high side due to that's when they have the funds to invest in bitcoin. In whichever way, whether the investor bought a low price or high price since their intention is hodl for long, they are in for profits in the future

Agree, not many people dare to decide to invest in bitcoin because so far bitcoin has had unstable price movements, as is currently happening, the price of bitcoin has collapsed and made many people panic. Investors will buy at whatever price bitcoin is available, but I think we should buy bitcoin at a cheap price even though it takes too long to wait for bitcoin to fall to the bottom price again.

of course we buy bitcoin during a cheap, bearish season and keep holding it for the long term. Many investors do that, they will hold it for 3 years, then sell it during the bullish season.

[Rubel007]

People who expect the price drops deeper may feel unsatisfied because the price looks to increase gradually. Now, the price of Bitcoin already increased 3.5% and the current price is about $63k. I assume it will be above $65k again in the next few days. We will be in halving in April 20, we almost reaches the halving time. I personally never expect the price to drop below $60k again, it is very unlikely to be $50k - $52k. If there will be no more bad news, I think it will be easy to see Bitcoin $70k again.

I also agree with you, I don't think the price of bitcoin will fall below $60K, because bitcoin seems to have improved again and it is possible that the price of $70K will be reached as soon as possible, maybe next week we will see it. Many expect the price of bitcoin to fall further, that's just those who have prepared USD to buy bitcoin at a lower price

It's good that the BTC price was pushed from $60k, but it's too early to be happy about it. We can talk about continuing the bullish trend only if the BTC price breaks through the resistance near the current ATH. Meanwhile, it seems to me, there is some uncertainty in the market. That's why BTC is trading in a relatively small range from $60k to $73k.

This morning Bitcoin experienced a decline to a price of 59k. But that only lasted a short time and the market returned to its slow rise. And as I write this, the BTC price is even above 64k again. And just now it has reached 65k again. And keep going up and down in that area. Maybe FOMO and fear are covering the market right now. People are scared and selling because of the news of Israel's attack on Iran. And there are also people who have FOMO because in a few hours the Bitcoin halving will come. And now the market has become uncertain.

As Bitcoin is highly volatile, many people are quite concerned about the price of Bitcoin. Any time the price goes up and down. Now this is a great concern with Bitcoin. However, in recent times, the alliance between Israel and Iran has gradually taken on a larger form. At the same time that Bitcoin halving is occurred and the price of Bitcoin could be bullish but the opposite happens. Investors are selling their bitcoins in panicky without understanding. What I understand is that if a war breaks out, the fiat currency is supposed to drop down. A better policy is to hold Bitcoin coins to keep your wealth secure to yourself. I am certainly say bitcoin price will rise.

[DAMKAR]

As Bitcoin is highly volatile, many people are quite concerned about the price of Bitcoin. Any time the price goes up and down. Now this is a great concern with Bitcoin. However, in recent times, the alliance between Israel and Iran has gradually taken on a larger form. At the same time that Bitcoin halving is occurred and the price of Bitcoin could be bullish but the opposite happens. Investors are selling their bitcoins in panicky without understanding. What I understand is that if a war breaks out, the fiat currency is supposed to drop down. A better policy is to hold Bitcoin coins to keep your wealth secure to yourself. I am certainly say bitcoin price will rise.

Saving money in bitcoin is a safe way to do it when a war occurs, because real life settings can be affected. Maybe currently Bitcoin seems to be struggling during the halving because investors are still waiting for clarity on the economy due to the impending war between Iran and Israel.