Don't buy bitcoin only because of FOMO

[Learn Bitcoin]

Very funny you know. Shitcoin sucks as the name implies and are pump and dump tokens fully projected by some few people who just wake up one day and begin to develop a project. Sometimes shitcoin pays and sometimes it just sucks. Although I have hady own share of the  the experience. Lots of shitcoin right iny wallet and project nowhere to be found all absconded living their shitcoin in various investors wallets making them loose huge amount of money. Ever since my last experience investing in shitcoin, I made up my mind not to have anything doing with shitcoin.

If you check coinmarketcap, there are 2.4 Million crypto's and I guess 1.5 million of them are just useless shit tokens that were created to scam people. I bought some shitcoins in the last bull run back in 2021, and some of them do not exist anymore. I mean they become zero. I have the tokens, but the value is zero.

This is one of the reasons I do not like tokens that are centralized. Do you remember how Luna developers increased Luna's supply during the crash back in the old days? That's how they scammed people like us. This is why I like Bitcoin most.

[koang]

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

If you bought during a bear market, it seems like it’d get pretty easy after you clear one cycle.
But to be even harder for most to hold through the raging Bull.
And if we see the carnage of the last cycle, we begin to understand how hard it is for Hodl.
Investing is managing emotions...and getting lucky.  I'm not sure which is more difficult.

[NikeFit_7777]

Greed will make people lose a lot of things, because we have to think clearly and rationally when investing, especially in hype coins such as shb, dogecoin etc. Because not only your friend, I am also trapped in high prices on shitcoins.

There's a saying that fits this topic very well:"New deposit, new life." The greedier a person is = the harder it will be to earn anything, or take back the money invested. + If there is no definite strategy/plans - the situation is doomed to failure as far as I'm concerned. Again, you need to calculate the amount of deposit, calculate the frequency of investment, etc.

P.S. If you came into this market yesterday. The best solution is to sit on the fence (for a while) and watch what is going on. And only then, take minimal actions. Taking into account risk management! 

[EthereumDev_]

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

If you bought during a bear market, it seems like it’d get pretty easy after you clear one cycle.
But to be even harder for most to hold through the raging Bull.
And if we see the carnage of the last cycle, we begin to understand how hard it is for Hodl.
Investing is managing emotions...and getting lucky.  I'm not sure which is more difficult.

Yes, you are right, when the price of bitcoin collapsed from $73k, many people panicked and sold their assets at low prices and ended up losing money. At least when you want to trade in cryptocurrency you have to use a cool head, so that the decision you choose won't make you lose money.

[pacar_tiri]

Yes, you are right, when the price of bitcoin collapsed from $73k, many people panicked and sold their assets at low prices and ended up losing money. At least when you want to trade in cryptocurrency you have to use a cool head, so that the decision you choose won't make you lose money.

It seems that Bitcoin price movements have stabilized and there is no more good news. When Bitcoin prices tend to be stable like this, it will be very dangerous because there will be a potential decline in Bitcoin prices. So we must remain careful when buying Bitcoin at high prices like now.

[doc]

Yes, you are right, when the price of bitcoin collapsed from $73k, many people panicked and sold their assets at low prices and ended up losing money. At least when you want to trade in cryptocurrency you have to use a cool head, so that the decision you choose won't make you lose money.

It seems that Bitcoin price movements have stabilized and there is no more good news. When Bitcoin prices tend to be stable like this, it will be very dangerous because there will be a potential decline in Bitcoin prices. So we must remain careful when buying Bitcoin at high prices like now.

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.

[Agbe]

This you advise is good but all depends on the time the person also came to the investment of bitcoin and if he comes to understand bitcoin at the time when bitcoin is trading at $42,113 then he has to start from there. And if he thinks that the price is too high for him at that time then he has to wait for the dip to come then start from there. And if the person knew bitcoin at the early time and didn't invest at that time too, you have to consider the financial status of the person. Therefore all depends on the time and the mindset of the person. You have to know whether he has money to invest at that time or not. Don't blame anyone.

[TopT3ns]

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.

[DAMKAR]

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.

If we buy at the base price during a bearish season, we will not panic when we see a price drop or market correction. investing is buying when prices are low, that's the main key. If we have done that, just wait for the bullish season and sell it

[bayu7adi]

But there are times when tomorrow's price is cheaper than today's price, because market movements are not easy to predict even though in the end we will encounter a bullish market to end trading. Buying sometimes still requires a strategy and everyone has the right to adopt the strategy they like, because they themselves will be responsible for how they trade.

If you want to buy early, without taking into account time and chart calculations like people doing technical analysis, then the solution is to do DCA. You can buy it in stages without having to worry about market movements, because the purchase price will automatically become an average as long as purchases are made gradually and continuously.

[kulkhan]

Acctually we saw most of the people buy bitcoin of FOMO and they fall in trap. But it is wrong decision i strongly believe it. In FOMO market were up for short time but after FOMO market were come his real position.

I also fall in this FOMO trap several times. And i was lost my valuable fund with short time. So we have to more careful to buy bitcoin. We have to justify more and more to buy bitcoin.
If we unable to understand about FOMO then it will be very harmful for us. And i think our fund will be hamper there has no doubt.

[alltalk]

If we buy at the base price during a bearish season, we will not panic when we see a price drop or market correction. investing is buying when prices are low, that's the main key. If we have done that, just wait for the bullish season and sell it

Base price? I don't know if Bitcoin has a base price, mate. 
If we bought at bearish season, no doubt we will buy at a cheap price. It is the time when Bitcoin price freefall, the best time to do entry. Next cycle, 2026-2027 probably will be the bearish time. I personally have planned to buy Bitcoin as many as possible at that years. However, we must focus on determining the best time for exit now. Some people may consider in Q3-Q4 of 2024, others plans for exit in 2025. How about you?

[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.

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

[EthereumDev_]

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.

[Gladitorcomeback]

we must focus on determining the best time for exit now. Some people may consider in Q3-Q4 of 2024, others plans for exit in 2025. How about you?

Wouldn't that depend on the price movement of Bitcoin after the halving and during the bull run? You can't decide a time for your exit strategy because the market is unpredictable and you never know, if the price might be in the correction mode when the time you had in mind reaches, so the exit decision for Bitcoin investors would largely depend on the price movement later this year.

A lot of investors will exit the market very early just like previous cycles where people sold their assets when Bitcoin hit a significant price point because people though it wouldn't go higher than this but then it did, and all of them regretted their decisions and thought they should have waited a bit longer.