Don't buy bitcoin only because of FOMO

[ajiz138]

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

People like that usually just want to make a profit, when prices are rising they enter and start investing without having any basic experience because what they have in mind is just profit and don't think about the risks that will occur later when the price experiences a correction.

And we know that after the pump it will start to go down and when it goes down they will panic of course selling in the middle of the road because they don't want to lose more so they make cutlos.

If they buy at the high then it's the wrong strategy unless you hold for the long term say 10 years, it doesn't matter.

But when you want to make a profit, use several strategies so that your investment grows over time, for example investing using DCA every week or month, this will determine the average price purchased this way, your accumulation will continue to grow even though prices are falling or rising.

[Baofeng]

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

I think its more on the altcoin side, they are really volatile and they are prone to what we call "pump-and-dump" scheme. As for FOMO in the market, I think people are buying Bitcoin, maybe they hear it from friends or from reading the internet, but still though, it's all good. The thing is that you need to have mental toughness to being a HODLer. And it might take years for someone to let say buy at the top and then the bear market occurs, so there's no movement after all. But if you can wait and believed that Bitcoin price will still grown despite the current cycle then investment on Bitcoin is still good, in my opinion.

[owlest]

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. 

Honestly, I don't keep track of the average purchase price. I buy regardless of price when I have spare cash. Regarding storage, I try to hold onto the coins as long as possible until the price reaches its peak. However, it can be challenging to determine how much to keep because if the value is very high, the desire to sell may override the desire to hold onto them.

[NikeFit_7777]

Honestly, I don't keep track of the average purchase price. I buy regardless of price when I have spare cash. Regarding storage, I try to hold onto the coins as long as possible until the price reaches its peak. However, it can be challenging to determine how much to keep because if the value is very high, the desire to sell may override the desire to hold onto them.

So you're buying into the DCA strategy? Yeah, you can say that's not it. But it's +/- similar.

I understand you, it's called "Fomo", it's quite normal, you won't believe it, most people have it. Decide on the specifics of the purchase/sale price + % on which you have to do. It's much easier that way. If you don't believe me, try it yourself. You'll be surprised how much easier it will become in your head. Так же, большую роль играет жадность. Но всему можно научиться. 

[Jamal Aezaz]

Bitcoin give more profit for investor that started accumulating very early when the price was low. Some Bitcoin investors prefer to wait until when the bull market is coming close that's when they will begin to rush and invest so that they will not miss the profit when the price begin to pump.

If Mr X bought his Bitcoin in 2022 for $20, 000 for 1 Bitcoin and Mr F buys his Bitcoin today that 1 Bitcoin is trading for $42,113, who will make more profit when the bull market starts? If bull market starts, the people that bought Bitcoin when the price was very low will make more profit than people that bought today.

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

X will earn more profit. but Mr F will also earn his fair profit. X will earn more because he trusted bitcoin at a time when everyone else including MR F thought he'l loose his money if he buy Bitcoin that time. but when he saw that Bitcoin is continuously increasing.  then he decided to take risk too..
technically he took a bigger risk. because it was easier for bitcoin to go from 20k to $40k. but now it is much harder for bitcoin to go from $40k to $50k or $60K.
so You are absolutely right that We should not FOMO in Bitcoin and any other altcoins.

[bitterguy28]

Bitcoin give more profit for investor that started accumulating very early when the price was low. Some Bitcoin investors prefer to wait until when the bull market is coming close that's when they will begin to rush and invest so that they will not miss the profit when the price begin to pump.

If Mr X bought his Bitcoin in 2022 for $20, 000 for 1 Bitcoin and Mr F buys his Bitcoin today that 1 Bitcoin is trading for $42,113, who will make more profit when the bull market starts? If bull market starts, the people that bought Bitcoin when the price was very low will make more profit than people that bought today.

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

I don't know what are you pointing Buying or accumulating very Early because what if the person is just find out bitcoin now so when is the very early for him?

always put in mind that there is no late in investing in bitcoin , your comparison about the price per year is not appropriate because you are not pushing people to invest in bitcoin instead your post goes as fud to prevent people from buying since they are late in the part,
even you bought in 2020 or in 2022 the main objective is how strong you can hold?

[JoyMarsha]

Bitcoin give more profit for investor that started accumulating very early when the price was low. Some Bitcoin investors prefer to wait until when the bull market is coming close that's when they will begin to rush and invest so that they will not miss the profit when the price begin to pump.

If Mr X bought his Bitcoin in 2022 for $20, 000 for 1 Bitcoin and Mr F buys his Bitcoin today that 1 Bitcoin is trading for $42,113, who will make more profit when the bull market starts? If bull market starts, the people that bought Bitcoin when the price was very low will make more profit than people that bought today.

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

Why it does seem as if those who bought bitcoin at its early stage are at profits now because they choose to hodl their Bitcoin for a long term purpose instead of selling it for a short term. If I am not mistaken, there were some investors who bought bitcoin at its early stage and they sold their bitcoin holdings early before its price skyrocketed.

I believe that those who sold their bitcoin at its early stage won't be among those who will say, they were in profits just by hodling bitcoin. Unless they have recently started accumulating bitcoin for long term purposes that's the only way I think they will be at profits with their bitcoin investment. However, the best way to go about bitcoin investment is to hodl it for long term purposes. Whether you are buying it now, or later

[Altcoin1998$]

I don't care FOMO.
You should not invest in Bitcoin with the idea that you have to invest in Bitcoin or you will miss the profit. Many times, if you cannot invest after the dumping in the Bitcoin market, many people fear FOMO and invest in Bitcoin during high prices, so if the market dumps again, the investor is afraid of loss instead of profit. Therefore, without FOMO, be patient and wait for the next good time to invest in Bitcoin.

[Rubel007]

I think Bitcoin is more dangerous for some aggressive investors who think that buying in a bull market will take a quick profit by selling it quickly. If a person buys $20,000 worth of bitcoins and sells those at this time, the amount of profit he would make and the person who is buying now may not make profit. Since there is no certainty and there is a possibility of more profit in the long term, I think those who invest patiently and hold it will gain more.

While Bitcoin is considered an asset for long-term investors, it is extremely risky for short-term investors. Bitcoin is definitely a good investment platform for those who have developed the mentality of investing but investing only for profit and quick profit will be the riskiest decision.

[owlest]

I understand you, it's called "Fomo", it's quite normal, you won't believe it, most people have it. Decide on the specifics of the purchase/sale price + % on which you have to do. It's much easier that way. If you don't believe me, try it yourself. You'll be surprised how much easier it will become in your head. Так же, большую роль играет жадность. Но всему можно научиться. 

If the bitcoin price remains at $20K, I may experience FOMO.

While Bitcoin is considered an asset for long-term investors, it is extremely risky for short-term investors. Bitcoin is definitely a good investment platform for those who have developed the mentality of investing but investing only for profit and quick profit will be the riskiest decision.

It is possible to profit from bitcoin in the short term, but only if you are certain that its value will increase after your purchase. However, this is unlikely. Currently, market manipulators are taking advantage of this.

[NikeFit_7777]

If the bitcoin price remains at $20K, I may experience FOMO.

Why's that? Wait, Fomo in terms of underbought? Or Fomo for not selling x-bitcoins at the current price? Let me get this straight, because it's important. The best and most current way is always. Designate levels for yourself and buy/sell from them. No matter what the situation is, I think you understand the essence.

P.S. As always, it is better to think three times, if Fomo is taking too much. Try not to give in to greed. 

[Nheer]

Bitcoin give more profit for investor that started accumulating very early when the price was low. Some Bitcoin investors prefer to wait until when the bull market is coming close that's when they will begin to rush and invest so that they will not miss the profit when the price begin to pump.

People have that mentality of waiting till the bull run is around the corner before investing, they don't know that the price of may increase as the bull run draws near and it will cost more to purchase any coin and reduces the potential profit to make.
Early investment is the best for long term holders, it is more profitable than waiting till the arrival of bull run and also there will be no time to conduct research about projects you want to invest in and investing at these times means you are investing due to the fear of missing out.

[Litzki1990]

When investors invest in long-term plans, they usually don't wait too long for the market to come down. Because their plan is long term, they do not consider it risky to invest according to the current market price. But for those who have a short-term plan in which they intend to buy bitcoins at a relatively low price and sell them after a few days, the lower the price they can buy, the better. That is, short-term investors will wait every time when the price of bitcoins will drop a lot and when they can buy and when the price of bitcoins will increase a lot when they will sell their bitcoins again. This is the difference between short-term investors and long-term investors. While everyone can invest in the short term, not everyone can invest in the long term plan and even if they do, they can't hold it for long. It is very challenging.

[LUCKMCFLY]

When investors invest in long-term plans, they usually don't wait too long for the market to come down. Because their plan is long term, they do not consider it risky to invest according to the current market price. But for those who have a short-term plan in which they intend to buy bitcoins at a relatively low price and sell them after a few days, the lower the price they can buy, the better. That is, short-term investors will wait every time when the price of bitcoins will drop a lot and when they can buy and when the price of bitcoins will increase a lot when they will sell their bitcoins again. This is the difference between short-term investors and long-term investors. While everyone can invest in the short term, not everyone can invest in the long term plan and even if they do, they can't hold it for long. It is very challenging.

Well, I think that, whenever in each case people have Bitcoin, it means that they can have many things to do. Firstly, when you buy Bitcoin, you should think about having it in the long term for the simple fact that it is an asset that appreciates in value over time. Much more, few people have faith in this, those who have money and do not want to buy do not know that they can amass a great fortune there, I could think that every time one has the opportunity to take some bitcoin and leave it in Hodl as if If you don't have anything and leave it in a period of 10 years, wow, the pleasant surprise will be unusual, because it is expected that in a few years, those who only have 1mBTC will be able to have a great life, and they can make great things with that money, they will practically be millionaires, of course this is agouqe right now it is difficult to believe, but that will be the case.

What I think is that in a few years bitcoin will be able to reach almost 400k and then 800k, that is something that I have always kept in my mind and I know that it is possible.

[Dr.Bitcoin_Strange]

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

@KingsDen, exactly what I also think. Though the advice of th OP is not bad but the truth is that life happens. Some people might have had a great plans of when to invest into Bitcoin but their financial plans can actually reverse in a way they never intended for it and by so doing, they may not have more funds to invest into Bitcoin again until the price might have sky rocket.

Although some people too are so terrible in making investment decisions, what I mean is that, some investors likes to procrastinate their investment plans meanwhile they already have the money to invest but they will keep procrastinating untill price has already become too bulish.

There was a thread I read before where the OP  said that every Bitcoiner bought Bitcoin at th price they deserved. Anyone who wants to buy  Bitcoin at a low price usually makes out their plans and stand by it and if they buy, they buy at the price they deserve but those that will procrastinate till price becomes high, they will still buy at the price they deserve.