Don't buy bitcoin only because of FOMO

[Gurujebs]

This is the best time that we need to buy Bitcoin and hold that because just some chance that the BTC will come down but the main chance is that it will go highs o much and I hope at that time BTC will easily touch the $60,000 and after that with in two months it will touch the $100,000.

Indeed, you are very courageous. I don't know what you know that gave you such much hope to see Bitcoin in $100k. The highest we have seen so far is $59k which was in the last bull run and then crashed to $15k in the year 2022, but now the price is okay and ready to do another journey but I'm not sure about that $100k. I hope you know that for the bitcoin price to pass $60k, we need to cross the previous resistance which happens to be the last previous all-time high, $100k will not be easy to cross without putting many fights against the bears.

American venture investor Tim Draper suggested that next year the Bitcoin rate could significantly exceed $250,000.
So let's wait and don't worry.

Tim Dapper obviously holds Bitcoin and that is why he is so bullish but he isn't the only person who has said that in the past and none ever occurred. What I know is that the bitcoin price will increase in many fold but not the way we expect. It is when you don't expect much from bitcoin you get more surprises but by the time you see people giving different predictions, that is when nothing occurs.

[dekafee79]

Always Start accumulation very early, don't wait until when bull market is close before investing.

Yeah, I think we should have analyzing very early before investing.
For now, almost all of investors buy more before bitcoin halving.
I don't say they buy bitcoin only because of FOMO, but they have research about bitcoin habits every 4 years.
Halving and will touch new ATH.

[sampoerna]

but unfortunately it cannot be denied that many people buy Bitcoin because when the hype and the price start to rise high. Most new investors even just follow their colleagues to invest in Bitcoin without first understanding what Bitcoin, Crypton in general and specifically, and how to invest in them.

 and as a result, when the price of Bitcoin suddenly experienced a market correction or fell even slightly, the new investors panicked and thought that their money was lost. in the end they panic to sell the Bitcoin at a lower price. this is what is worrying when people invest in Bitcoin just because of fomo or just join in without prior understanding

[owlest]

Sorry, but giving financial advice is wrong.
- Depends on when you bought it;
- On what percentage of your deposit;
- On how many X's the asset has brought in; etc.
It's all individualized. My purchases/sales are different from yours. So is the expectation of the asset. Each user has a different perception and so on.

P.S. Try not to listen to outsiders too much. So You don't have to blame someone through advice in the future. All decisions - make your own! Don't let fomo defeat you.

I didn't consider seeking advice. I am interested in an outsider's opinion  If I follow someone else's advice, I take full responsibility because it's my money, and I decide what to do with it. I only buy when I have extra money. Based on the average price, I should be in profit by now. However, I always want more, so I am waiting for the bull run.

[NikeFit_7777]

I didn't consider seeking advice. I am interested in an outsider's opinion  If I follow someone else's advice, I take full responsibility because it's my money, and I decide what to do with it. I only buy when I have extra money. Based on the average price, I should be in profit by now. However, I always want more, so I am waiting for the bull run.

Yeah, yeah, I specifically said It's good that you understand yourself + realize the risks. If x2 in bitcoin or more, that's great. I'll just say this, the price we are at now is not bad enough to lock in some of the money invested. (If there is a big return). But that doesn't mean we won't see 50k for a single bitcoin tomorrow.

Sometimes, greed plays a big role. Everyone has a different idea of a bull market. For me, it started at $38,000. The ultimate decision making is yours alone. I, where I see a good (within my limits) income....I'm starting to sell. I don't like to wait for a miracle. 

[DabsPoorVersion]

but unfortunately it cannot be denied that many people buy Bitcoin because when the hype and the price start to rise high. Most new investors even just follow their colleagues to invest in Bitcoin without first understanding what Bitcoin, Crypton in general and specifically, and how to invest in them.

It's a common scenario as there are people who are showing off their money through social media or stuff like that. Bragging about their earned profit, since it is a lot of money, people get easily attracted and do the same thing which is investing even if the price is high to at least earn a profit out of their investment.

and as a result, when the price of Bitcoin suddenly experienced a market correction or fell even slightly, the new investors panicked and thought that their money was lost. in the end they panic to sell the Bitcoin at a lower price. this is what is worrying when people invest in Bitcoin just because of fomo or just join in without prior understanding

Many new investors are selling their investments or panicking because they lack knowledge about the market. They invested solely because they saw someone else doing the same and were influenced without prior research. When the market experiences a price correction, they are unsure of what to do, leading to losses instead of profits.

[vegasus]

What we can be certain of is. Actually, this is very general advice and we often echo it in the crypto space. This is to reduce the Fomo rate in Bitcoin purchases without based on adequate knowledge and understanding from investors, especially newcomers.
Investing in Bitcoin is indeed profitable and promising compared to altcoins, and maybe we can say that the risk is lower than altcoins. However, it will be the opposite if we don't have enough understanding about how to invest in Bitcoin smartly and wisely. as well as the readiness needed before investing. Indeed, don't just jump on the bandwagon, but indeed we are truly ready financially, emotionally, in our knowledge and management regarding investing in crypto.

[KingsDen]

Always Start accumulation very early, don't wait until when bull market is close before investing.

It is a very good advice but unfortunately the advice is not for everyone. There are people who will deliberately not take the advice and there are people who might not know about the advice and people who knows but cannot apply the advice. Let's highlight them;

• There are people who doesn't know about this advice.
• There are people who will join the bitcoin investment when it is already at the bull
• There are people who got good timing but there was no funds to buy then
• There are people who will not even but at all

[owlest]

Yeah, yeah, I specifically said It's good that you understand yourself + realize the risks. If x2 in bitcoin or more, that's great. I'll just say this, the price we are at now is not bad enough to lock in some of the money invested. (If there is a big return). But that doesn't mean we won't see 50k for a single bitcoin tomorrow.

Sometimes, greed plays a big role. Everyone has a different idea of a bull market. For me, it started at $38,000. The ultimate decision making is yours alone. I, where I see a good (within my limits) income....I'm starting to sell. I don't like to wait for a miracle. 

I see bitcoin as a means of saving. I am confident that its value will increase over time, so I aim to hold onto it for as long as possible. Altcoins are better suited for earning, as they can be earned and then sold, gradually accumulating bitcoin. This is my simple strategy.

What we can be certain of is. Actually, this is very general advice and we often echo it in the crypto space. This is to reduce the Fomo rate in Bitcoin purchases without based on adequate knowledge and understanding from investors, especially newcomers.
Investing in Bitcoin is indeed profitable and promising compared to altcoins, and maybe we can say that the risk is lower than altcoins. However, it will be the opposite if we don't have enough understanding about how to invest in Bitcoin smartly and wisely. as well as the readiness needed before investing. Indeed, don't just jump on the bandwagon, but indeed we are truly ready financially, emotionally, in our knowledge and management regarding investing in crypto.

Bitcoin is ideal for long-term storage, as it is practically inaccessible to most people. Many individuals attempt to earn money and quickly exchange their coins for physical assets. However, experienced users who believe that Bitcoin will eventually reach a value of 100 thousand dollars or more choose to hold onto their coins.

[Mehedi72]

That's so true even not only for Bitcoin but also for other altcoins. If a coin is good enough then Early investor will make huge profit. Although everyone can't afford to buy Bitcoin when price was low as they have to manage their livelihood true. But who have ability, i also recommended them to buy Bitcoin earlier. Bitcoin may can't give you 5-10x return like altcoins but Bitcoin is safe , secure and always best for investment. Thats why people recommended it

[Fivestar4everMVP]

That's so true even not only for Bitcoin but also for other altcoins. If a coin is good enough then Early investor will make huge profit. Although everyone can't afford to buy Bitcoin when price was low as they have to manage their livelihood true. But who have ability, i also recommended them to buy Bitcoin earlier. Bitcoin may can't give you 5-10x return like altcoins but Bitcoin is safe , secure and always best for investment. Thats why people recommended it

You are right actually, and one thing I really would like us to understand is that, FOMOing is a normal thing in crypto, almost every investor has sometime in the past fomoed in to a crypto investment, and even in the future, most investors will still at some point fomo into a crypto investment, and such investment could be bitcoin or any other altcoin, but just as you have said, it's actually very much better and safer to fomo into investing in bitcoin, than fomo into investing in some random altcoins.

When it comes to investing in bitcoin, it is advised that we should take our time and get a good price to enter, but when the market is going up steadily and rapidly like it does in a bull run, it's better to get in at any price else, you might just miss out on some potential profit, and let's say that after getting in, the price of bitcoin drops, just keep holding and dca, bitcoin will always rise again.

[NikeFit_7777]

I see bitcoin as a means of saving. I am confident that its value will increase over time, so I aim to hold onto it for as long as possible. Altcoins are better suited for earning, as they can be earned and then sold, gradually accumulating bitcoin. This is my simple strategy.

The value will be there, but whether it will be as active as it is now is another question. And what will happen after the adoption of ETFs is similarly a rhetorical question. If it's no secret, what was your average purchase price? How long are you willing to keep your blood bitcoins for? If the strategy is speculative (short-term and/or long-term) - in any case there will be income. And what altcoin to buy is purely your decision.

The main thing is that there's no FOMO, everything else is a formality. 

[MUGNIA]

but unfortunately it cannot be denied that many people buy Bitcoin because when the hype and the price start to rise high. Most new investors even just follow their colleagues to invest in Bitcoin without first understanding what Bitcoin, Crypton in general and specifically, and how to invest in them.

 and as a result, when the price of Bitcoin suddenly experienced a market correction or fell even slightly, the new investors panicked and thought that their money was lost. in the end they panic to sell the Bitcoin at a lower price. this is what is worrying when people invest in Bitcoin just because of fomo or just join in without prior understanding

Well, this is what is happening at the moment, many investors are just following friends who have already been successful before without knowing the ups and downs of how they can get these profits.
and unfortunately, when bitcoin experiences a decline, the new investor blames the friend who taught him about bitcoin

[Sim_card]

but unfortunately it cannot be denied that many people buy Bitcoin because when the hype and the price start to rise high. Most new investors even just follow their colleagues to invest in Bitcoin without first understanding what Bitcoin, Crypton in general and specifically, and how to invest in them.

 and as a result, when the price of Bitcoin suddenly experienced a market correction or fell even slightly, the new investors panicked and thought that their money was lost. in the end they panic to sell the Bitcoin at a lower price. this is what is worrying when people invest in Bitcoin just because of fomo or just join in without prior understanding

It is newbies who think that bitcoin is a get rich quick scheme that always want to buy bitcoin during this period that the hype is there and die to fomo they will also invest. This is why when the price goes below their entry point, they panic and sell and lose at the end of the day because they don't want to see bitcoin as an investment that should be done in a long term. I will also call then short-term investors, which are traders. If any newbie knows the basic of bitcoin that it should be a long-term investment that person wouldn't sell even if the price below his entry point because he plans to be on a long-term ride, and this is the only way to less the risk in bitcoin investment. Buying due to FOMO is buying blindly, and you will put yourself on a big risk.

Well, this is what is happening at the moment, many investors are just following friends who have already been successful before without knowing the ups and downs of how they can get these profits.
and unfortunately, when bitcoin experiences a decline, the new investor blames the friend who taught him about bitcoin

[tbct_mt2]

Well, this is what is happening at the moment, many investors are just following friends who have already been successful before without knowing the ups and downs of how they can get these profits.
and unfortunately, when bitcoin experiences a decline, the new investor blames the friend who taught him about bitcoin

It is still not hottest and it is like a rehearsal for a big bull run next two years in 2024 and 2025. We are witnessing FOMO of people in the market but they will become more FOMO in a big bull run which will come soon.

Recent months belong to a mini bull run and it is helpful as a warm-up period for the next two years. We will see more newbies joining this market in near future. They will be part of next FOMO wave in this market.

I feel Bitcoin is going with a mini distribution for top of this rally but I don't worry because after that, it will have an actual bull run after halving in April 2024.

Fear and Greed Index chart: https://www.lookintobitcoin.com/charts/bitcoin-fear-and-greed-index/
The index shows Greed now, at 72.