Don't buy bitcoin only because of FOMO

[alltalk]

Yes, with the help of these indicators, you can determine when to enter and when to exit the market.
Many indicators can be used and combined to predict prices that will occur later.
It will not be 100% accurate, but it will tell you what the price picture will look like in the future.

Sure. There are many indicators to determine the entry (buy) and exit (sell). But these indicators only increase the chance to get the best time for both entry and exit, there is no guarantee that the indicators to give the exact results. However, when we use the indicators, we already do the right way. Although they are not 100% accurate, but they must be very helpful. It is much better than we do it without any approach and with no indicators. 

[0t3p0t]

No doubt an advantage for early adoptors and investors but for the sake of buying nowadays, I think it does not matter if you bought at a specific price or not but what's important here is you got Bitcoin and possibly will reap profits in the future if price goes up. Please donot FOMO just accumulate as much as you can using DCA.

[NikeFit_7777]

No doubt an advantage for early adoptors and investors but for the sake of buying nowadays, I think it does not matter if you bought at a specific price or not but what's important here is you got Bitcoin and possibly will reap profits in the future if price goes up. Please donot FOMO just accumulate as much as you can using DCA.

If bitcoin exists (at its peak price) for quite some time, will DCA help much? This strategy works when the price +/- is at -30-40% of its peak.

Anyway, who's in the mood? I'm referring to current news about ETFs. Does anyone have any FOMO on lost profits? Really curious, not trying to hurt anyone's feelings.

P.S. If there is positive news, will you buy at current prices? Or will you expect a decline? 

[Uruhara]

No doubt an advantage for early adoptors and investors but for the sake of buying nowadays, I think it does not matter if you bought at a specific price or not but what's important here is you got Bitcoin and possibly will reap profits in the future if price goes up. Please donot FOMO just accumulate as much as you can using DCA.

Yes, it's true that the important thing is that we don't have FOMO when accumulating. Accumulate slowly with cold money and with the method most widely used by long-term investors, namely DCA. And today the price of bitcoin has touched 49k and maybe it will be higher next week. And for those who have been doing DCA since prices were still not high, today everyone can smile broadly. But for those who are still in the accumulation stage. So do it with more careful consideration and don't use hot money because this will only make us uneasy while holding the bitcoins that we have bought. only use money that is ready if you have to lose so that we remain calm wherever the price goes. And the bullrun has actually just started so there are still lots of opportunities and corrections will definitely occur so just be patient. But don't expect a big correction in the bull run market. Only small corrections are possible. Dwyor

[taufik123]

Sure. There are many indicators to determine the entry (buy) and exit (sell). But these indicators only increase the chance to get the best time for both entry and exit, there is no guarantee that the indicators to give the exact results. However, when we use the indicators, we already do the right way. Although they are not 100% accurate, but they must be very helpful. It is much better than we do it without any approach and with no indicators. 

The use of indicators in trading teaches us that everything will relate to data that has existed in the past and not only my technicals, but fundamentals will be very influential and will match technical analysis.

Although there is no 100% guarantee, it will relate to the probability that will occur or the chance that the price will be reached as predicted using the indicator.

A person does not even use any indicators to make predictions, only using their feelings, such as guesswork.

[CryptoLaila]

Sure. There are many indicators to determine the entry (buy) and exit (sell). But these indicators only increase the chance to get the best time for both entry and exit, there is no guarantee that the indicators to give the exact results. However, when we use the indicators, we already do the right way. Although they are not 100% accurate, but they must be very helpful. It is much better than we do it without any approach and with no indicators. 

The use of indicators in trading teaches us that everything will relate to data that has existed in the past and not only my technicals, but fundamentals will be very influential and will match technical analysis.

Although there is no 100% guarantee, it will relate to the probability that will occur or the chance that the price will be reached as predicted using the indicator.

A person does not even use any indicators to make predictions, only using their feelings, such as guesswork.

I stopped using indicators because I don't trust it rather I even  place trade as a newbie  but with  more technical analysis .I don't use indicators  doesn't mean I do  a guess trade  so there're different  strategy of trading  and everyone is free to use any of which is best comfortable with

[kent47400]

If Mr X bought his Bitcoin in 2022 for $20, 000 for 1 Bitcoin

2022 very early , i'll talk about investor since 2015.
If those who understand cryptocurrency since 2015 onwards, will definitely have a lot of Bitcoin.
They are people who are patient with Bitcoin trading and of course they are also lucky investors.
Maybe here on the Altcoinstalks forum there are lots of members who have lots of Bitcoin but they just keep quiet.
They are also not immune to FOMO or Hive about Bitcoin and they also always ignore the news blah blah blah about Bitcoin, they are now definitely enjoying a holiday with hundreds of Bitcoins in their wallet.

[taufik123]

I stopped using indicators because I don't trust it rather I even  place trade as a newbie  but with  more technical analysis .I don't use indicators  doesn't mean I do  a guess trade  so there're different  strategy of trading  and everyone is free to use any of which is best comfortable with

Yes, everyone is free to want to use any way of trading. Using indicators or not is your choice, but by default indicators are a reference for analyzing the market, without indicators no analysis is presented.

Indicators are included in technical analysis and some popular indicators such as MACD, RSI it will be very useful to see how the market moves whether the market is saturated enough or not.

[aiviaa485]

It's hard for me to differentiate between FOMO and my own peace when buying Bitcoin because the FOMO from Bitcoin is so very strong.
Many members on this forum are very interested in being carried away by the flow of FOMO, including myself, but unfortunately I can't buy Bitcoin because I don't have the money.
Maybe the best way is not to buy Bitcoin because it's better for me to look for Bitcoin with my expertise in the Altcoinstalks forum, as I said, if women choose to buy Bitcoin, maybe for them it's better to buy "make up" or whatever they need for the household.

[raflesia]

It's hard for me to differentiate between FOMO and my own peace when buying Bitcoin because the FOMO from Bitcoin is so very strong.
Many members on this forum are very interested in being carried away by the flow of FOMO, including myself, but unfortunately I can't buy Bitcoin because I don't have the money.
Maybe the best way is not to buy Bitcoin because it's better for me to look for Bitcoin with my expertise in the Altcoinstalks forum, as I said, if women choose to buy Bitcoin, maybe for them it's better to buy "make up" or whatever they need for the household.

Actually in this case if they are old people must be aware that at least regardless of fomo or not they know they are in a good situation because after all when we buy bitcoin then indirectly we have also learned a lot over time but on the other hand for those who are only based on others (because buying only sees others succeed) and expect more expectations from the first purchase without learning anything that is what I think is a little difficult to accept.
Many beginners have great expectations but end up with disappointment because they cannot balance what is done in buying bitcoin with learning that actually must be prioritised before buying so that not a few consider this to be fraud because of the wrong way of looking at bitcoin from the start.

[xSkylarx]

Sure. There are many indicators to determine the entry (buy) and exit (sell). But these indicators only increase the chance to get the best time for both entry and exit, there is no guarantee that the indicators to give the exact results. However, when we use the indicators, we already do the right way. Although they are not 100% accurate, but they must be very helpful. It is much better than we do it without any approach and with no indicators. 

The use of indicators in trading teaches us that everything will relate to data that has existed in the past and not only my technicals, but fundamentals will be very influential and will match technical analysis.

Although there is no 100% guarantee, it will relate to the probability that will occur or the chance that the price will be reached as predicted using the indicator.

A person does not even use any indicators to make predictions, only using their feelings, such as guesswork.

I stopped using indicators because I don't trust it rather I even  place trade as a newbie  but with  more technical analysis .I don't use indicators  doesn't mean I do  a guess trade  so there're different  strategy of trading  and everyone is free to use any of which is best comfortable with

There are even naked chart traders, they don't have any indicators and they just watch the candlesticks and imagine the pattern. Indicators are always lagging, but if correctly used they guide you to a higher chance of winning a trade. An indicator is a tool like a calculator that you can easily use to calculate how the market goes so if you don't properly use it, it will show false information. Traders are different, so we should respect if others do not use indicators like you and let them do their best on trading.

[Dr.Bitcoin_Strange]

It's hard for me to differentiate between FOMO and my own peace when buying Bitcoin because the FOMO from Bitcoin is so very strong.
Many members on this forum are very interested in being carried away by the flow of FOMO, including myself, but unfortunately I can't buy Bitcoin because I don't have the money.
Maybe the best way is not to buy Bitcoin because it's better for me to look for Bitcoin with my expertise in the Altcoinstalks forum, as I said, if women choose to buy Bitcoin, maybe for them it's better to buy "make up" or whatever they need for the household.

Well, it's not really difficult to invest in Bitcoin without giving attention to the fear of missing out. You only need to start on time to accumulate your bitcoin using the dollar-coil averaging strategy. What makes some people invest in Bitcoin because of FOMO is simply because some investors will keep procrastinating their investment until the price has started increasing so quickly.

If you want to have peace of mind investing in Bitcoin, you should start to invest on time, buy every dip you can witness, and also invest just the amount that you can probably hold for a long time.

[debra]

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.

It is not the wrong way in Bitcoin investment but it is not the best way to optimize the chance for the profits. The best way is to buy Bitcoin in the bearish season, buy when the Bitcoin price is in the bottom rate. If we buy the Bitcoin in 2022, we must get many Bitcoin because the price was very cheap. But if we buy now, the price of Bitcoin already increased a lot, we have no chance to buy Bitcoin below $420k anymore.

However, if we buy now, we won't hold the Bitcoin for a long time. We may just hold the Bitcoin for few months or around a year. Then, it is very likely that we will have bullrun season.

[Nwada001]

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.

Many people just happen to know about bitcoin or have a plan to buy it the moment they see the market price going up, and it's making headlines on all news sites and social media. But for such people, I don't see them as those who qualify to be called investors, as many of them are just there to see what they can achieve from the market in a short period of time.
 
And aside from the profit part, many who buy on FOMO and don't plan to hold for long always end up losing some of their investment as a result of the price picking a reverse and won't return so quickly, which means those who are not patient will sell off before market correction.

[DabsPoorVersion]

Many people just happen to know about bitcoin or have a plan to buy it the moment they see the market price going up, and it's making headlines on all news sites and social media. But for such people, I don't see them as those who qualify to be called investors, as many of them are just there to see what they can achieve from the market in a short period of time.

I don't understand what you mean when you said they don't qualify to be called investors. Being an investor simply means that you have invested your money in cryptocurrencies, regardless of how long you plan to hold your investment or sell it once you make a profit. Once you start investing, you become an investor, even if you were only influenced by others or invested because the price of Bitcoin suddenly increased. In the crypto space, anyone who invests their money in cryptocurrencies is considered an investor.

And aside from the profit part, many who buy on FOMO and don't plan to hold for long always end up losing some of their investment as a result of the price picking a reverse and won't return so quickly, which means those who are not patient will sell off before market correction.

That's because those people who invest in Bitcoin don't have enough knowledge about it. They are easily influenced by others and take a chance to make a profit. Some people only prefer to invest one after another in various types of investment opportunities in order to make a profit or to explore other investment possibilities.