Don't buy bitcoin only because of FOMO

[LUCKMCFLY]

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

Accumulating bitcoin early is good for those who find out about it and invest in it when they have the spare money. Not all investors in crypto were lucky to invest in bitcoin early, don't forget about that. Many invested when they had the money to invest, which is not a bad move, so long they will be hodling their bitcoin for long.

If we had been able to buy Bitcoin at the beginning, perhaps by now we would have made a lot of profit, instead of buying it now it would be too late or because of FOMO. but the price of bitcoin is starting to get expensive and I don't think this is FOMO, but because bitcoin's popularity is increasing.

No doubt, bitcoin is getting expensive. What should we do to that, is it not to invest with the little amount we have and expect a profit from that rather than wait for when bitcoin gets down in price before we invest because doing that alone would deny us the opportunity not to be among those that would gain from their bitcoin investment.

Many buy when bitcoin is bullish and is going up and up, I don't say anything, because the people in the world in use mostly get the emotions, they are not able to compare when it is at a much lower price, they buy high because They expect their investment to go up a lot, or rather they expect it to go up too much and that doesn't work that way, it may work for them, but the chances are slim, I would say that it is always better to buy with the DCA method which is one of the things that proliferate for good in the future and you will always have bitcoin available.

[bayu7adi]

Many buy when bitcoin is bullish and is going up and up, I don't say anything, because the people in the world in use mostly get the emotions, they are not able to compare when it is at a much lower price, they buy high because They expect their investment to go up a lot, or rather they expect it to go up too much and that doesn't work that way, it may work for them, but the chances are slim, I would say that it is always better to buy with the DCA method which is one of the things that proliferate for good in the future and you will always have bitcoin available.

Actually, I don't really care what price they buy at, because I'm sure everyone has their own strategy according to their own analysis and research. When you think the price is high, they might still think it is low. Everyone's point of view in setting Bitcoin price levels is different, and this cannot be denied.

Instead of focusing too much on people's decisions, why don't you focus on the next step you want to take. Soon a bullish moment should come, and I'm sure everyone has their own plans to welcome that moment.

[Uruhara]

Many buy when bitcoin is bullish and is going up and up, I don't say anything, because the people in the world in use mostly get the emotions, they are not able to compare when it is at a much lower price, they buy high because They expect their investment to go up a lot, or rather they expect it to go up too much and that doesn't work that way, it may work for them, but the chances are slim, I would say that it is always better to buy with the DCA method which is one of the things that proliferate for good in the future and you will always have bitcoin available.

It is true. And maybe some people take buying action because they are affected by FOMO. And maybe those who buy when there is an increase are because they are short-term traders. Or day traders who always enter following the trend and exit before the trend ends. But there are also many beginners who get caught up in FOMO and instead buy when the price is at its peak. But as long as they intend to save in the long term then perhaps their actions can still be forgiven. Because they can also re-accumulate more when there is a downturn.

[Jamal Aezaz]

It is true. And maybe some people take buying action because they are affected by FOMO. And maybe those who buy when there is an increase are because they are short-term traders. Or day traders who always enter following the trend and exit before the trend ends. But there are also many beginners who get caught up in FOMO and instead buy when the price is at its peak. But as long as they intend to save in the long term then perhaps their actions can still be forgiven. Because they can also re-accumulate more when there is a downturn.

We should not buy Bitcoin due to FOMO but we should first learn about bitcoin instead of accepting the advice from others because if we have not made any research and do what other people want then we will be trapped into the wrong concept.

If someone has an accurate knowledge then he will decide accurately when to buy and when to sell and will take advantage of both bear and bull season but those who have no knowledge when they listen from others about the benefit of Bitcoin then they will rush to be a part of it without thinking about bear and bull season.

[0t3p0t]

It is true. And maybe some people take buying action because they are affected by FOMO. And maybe those who buy when there is an increase are because they are short-term traders. Or day traders who always enter following the trend and exit before the trend ends. But there are also many beginners who get caught up in FOMO and instead buy when the price is at its peak. But as long as they intend to save in the long term then perhaps their actions can still be forgiven. Because they can also re-accumulate more when there is a downturn.

We should not buy Bitcoin due to FOMO but we should first learn about bitcoin instead of accepting the advice from others because if we have not made any research and do what other people want then we will be trapped into the wrong concept.

If someone has an accurate knowledge then he will decide accurately when to buy and when to sell and will take advantage of both bear and bull season but those who have no knowledge when they listen from others about the benefit of Bitcoin then they will rush to be a part of it without thinking about bear and bull season.

Yes as we all know "knowledge is power" meaning it is a must and is very improtant especially in this volatile industry. People who has enough knowledge about Bitcoin and stuff does not fall into FOMO because they already know what is happening in the market and they can execute more accurately without rushing. Decision making is critical especially in executing our entry and exit so yeah we really need to acquire enough knowledge to not fall into a wrong emotion fight.

[doc]

It is true. And maybe some people take buying action because they are affected by FOMO. And maybe those who buy when there is an increase are because they are short-term traders. Or day traders who always enter following the trend and exit before the trend ends. But there are also many beginners who get caught up in FOMO and instead buy when the price is at its peak. But as long as they intend to save in the long term then perhaps their actions can still be forgiven. Because they can also re-accumulate more when there is a downturn.

We should not buy Bitcoin due to FOMO but we should first learn about bitcoin instead of accepting the advice from others because if we have not made any research and do what other people want then we will be trapped into the wrong concept.

If someone has an accurate knowledge then he will decide accurately when to buy and when to sell and will take advantage of both bear and bull season but those who have no knowledge when they listen from others about the benefit of Bitcoin then they will rush to be a part of it without thinking about bear and bull season.

Yes as we all know "knowledge is power" meaning it is a must and is very improtant especially in this volatile industry. People who has enough knowledge about Bitcoin and stuff does not fall into FOMO because they already know what is happening in the market and they can execute more accurately without rushing. Decision making is critical especially in executing our entry and exit so yeah we really need to acquire enough knowledge to not fall into a wrong emotion fight.

You are right, knowledge and experience make a person not affected by FOMO.  Those who have invested in crypto for a long time will remain calm when watching the market and be careful in making decisions.  What I've seen so far are newbies and people who don't have deep experience in investing in crypto.

[0t3p0t]

It is true. And maybe some people take buying action because they are affected by FOMO. And maybe those who buy when there is an increase are because they are short-term traders. Or day traders who always enter following the trend and exit before the trend ends. But there are also many beginners who get caught up in FOMO and instead buy when the price is at its peak. But as long as they intend to save in the long term then perhaps their actions can still be forgiven. Because they can also re-accumulate more when there is a downturn.

We should not buy Bitcoin due to FOMO but we should first learn about bitcoin instead of accepting the advice from others because if we have not made any research and do what other people want then we will be trapped into the wrong concept.

If someone has an accurate knowledge then he will decide accurately when to buy and when to sell and will take advantage of both bear and bull season but those who have no knowledge when they listen from others about the benefit of Bitcoin then they will rush to be a part of it without thinking about bear and bull season.

Yes as we all know "knowledge is power" meaning it is a must and is very improtant especially in this volatile industry. People who has enough knowledge about Bitcoin and stuff does not fall into FOMO because they already know what is happening in the market and they can execute more accurately without rushing. Decision making is critical especially in executing our entry and exit so yeah we really need to acquire enough knowledge to not fall into a wrong emotion fight.

You are right, knowledge and experience make a person not affected by FOMO.  Those who have invested in crypto for a long time will remain calm when watching the market and be careful in making decisions.  What I've seen so far are newbies and people who don't have deep experience in investing in crypto.

Yeah exactly. Some people are forced to jump into crypto because they knew someone who makes money out of it that is why they just take part without enough knowledge the reason why they got rekt. Even experienced traders sometimes lose how much more the neophytes. 😁

[ajiz138]

Yeah exactly. Some people are forced to jump into crypto because they knew someone who makes money out of it that is why they just take part without enough knowledge the reason why they got rekt. Even experienced traders sometimes lose how much more the neophytes. 😁

I think most people are like that, they get into the crypto world because they see other people doing the same thing, especially in the digital era like now, they will meet a lot of people who live in the crypto space and also many influencers who promote it. This.

That's actually a good thing, as long as they are willing to learn more to learn this crypto. Don't let them just follow other people without their desire to learn.

[LUCKMCFLY]

Many buy when bitcoin is bullish and is going up and up, I don't say anything, because the people in the world in use mostly get the emotions, they are not able to compare when it is at a much lower price, they buy high because They expect their investment to go up a lot, or rather they expect it to go up too much and that doesn't work that way, it may work for them, but the chances are slim, I would say that it is always better to buy with the DCA method which is one of the things that proliferate for good in the future and you will always have bitcoin available.

Actually, I don't really care what price they buy at, because I'm sure everyone has their own strategy according to their own analysis and research. When you think the price is high, they might still think it is low. Everyone's point of view in setting Bitcoin price levels is different, and this cannot be denied.

Instead of focusing too much on people's decisions, why don't you focus on the next step you want to take. Soon a bullish moment should come, and I'm sure everyone has their own plans to welcome that moment.

That's right, because I personally have read a lot both here and on bitcontalk and believe me buying with the DCA method is a very good thing, as long as there is something that can be done , I know that when each movement of the price of Bitcoin causes a lot of Emotions and that will always have an impact on many people who become what I call the "mass" and that mass sometimes gets too excited and buys because of emotions, which I don't blame them for because they don't want to miss a single bitcoin movement, but things always have to be seen with patience for Everything to go well.

[pieppiep]

Many buy when bitcoin is bullish and is going up and up, I don't say anything, because the people in the world in use mostly get the emotions, they are not able to compare when it is at a much lower price, they buy high because They expect their investment to go up a lot, or rather they expect it to go up too much and that doesn't work that way, it may work for them, but the chances are slim, I would say that it is always better to buy with the DCA method which is one of the things that proliferate for good in the future and you will always have bitcoin available.

Actually, I don't really care what price they buy at, because I'm sure everyone has their own strategy according to their own analysis and research. When you think the price is high, they might still think it is low. Everyone's point of view in setting Bitcoin price levels is different, and this cannot be denied.

Instead of focusing too much on people's decisions, why don't you focus on the next step you want to take. Soon a bullish moment should come, and I'm sure everyone has their own plans to welcome that moment.

That's right, because I personally have read a lot both here and on bitcontalk and believe me buying with the DCA method is a very good thing, as long as there is something that can be done , I know that when each movement of the price of Bitcoin causes a lot of Emotions and that will always have an impact on many people who become what I call the "mass" and that mass sometimes gets too excited and buys because of emotions, which I don't blame them for because they don't want to miss a single bitcoin movement, but things always have to be seen with patience for Everything to go well.

So far, method like this can give us the opportunity to still have the opportunity to buy Bitcoin at whatever price is on the exchange. DCA is very suitable for buying coins that have a very limited supply such as Bitcoin. If we apply it to buy other coins, this strategy is not necessarily suitable for other coins. The current situation is that the price of Bitcoin is also rising, which is a moment to sell some of the Bitcoin that we bought when the price collapsed a few days ago.

[doc]

So far, method like this can give us the opportunity to still have the opportunity to buy Bitcoin at whatever price is on the exchange. DCA is very suitable for buying coins that have a very limited supply such as Bitcoin. If we apply it to buy other coins, this strategy is not necessarily suitable for other coins. The current situation is that the price of Bitcoin is also rising, which is a moment to sell some of the Bitcoin that we bought when the price collapsed a few days ago.

I agree, when the price of bitcoin rises we can take advantage to sell some of our bitcoin, but we have to do it according to the plan we have targeted. because everyone has their own target, my target is to start selling bitcoin when the price of bitcoin starts to touch $80K, not now.

[MUGNIA]

So far, method like this can give us the opportunity to still have the opportunity to buy Bitcoin at whatever price is on the exchange. DCA is very suitable for buying coins that have a very limited supply such as Bitcoin. If we apply it to buy other coins, this strategy is not necessarily suitable for other coins. The current situation is that the price of Bitcoin is also rising, which is a moment to sell some of the Bitcoin that we bought when the price collapsed a few days ago.

I agree, when the price of bitcoin rises we can take advantage to sell some of our bitcoin, but we have to do it according to the plan we have targeted. because everyone has their own target, my target is to start selling bitcoin when the price of bitcoin starts to touch $80K, not now.

When the market rises we should stop buying BTC but we should set a strategy at what price we will sell it later, for example, your target is 80k$ and will sell some of the BTC you have. because by selling at a price of 80k$ you will definitely have made a profit, because as you said everyone has their own target, and behind that target you will definitely have a profit that is said to be decent and not be greedy in taking profits

[UNIVERSE]

I agree, when the price of bitcoin rises we can take advantage to sell some of our bitcoin, but we have to do it according to the plan we have targeted. because everyone has their own target, my target is to start selling bitcoin when the price of bitcoin starts to touch $80K, not now.

I have sold some of my Bitcoin today. Bitcoin reaches $$71.9xx today, it is quite high increase. There should be dump after the pump, now you can see the Bitcoin price dropped below $70.000 again. Although we have a target to take profits, I think it is no problem to take the advantage from the current trend in Bitcoin. If we get profits, we can add the number of our Bitcoin. However, it is up to you if you only wants to sell when the price reaches $80k at least.

When the market rises we should stop buying BTC but we should set a strategy at what price we will sell it later, for example, your target is 80k$ and will sell some of the BTC you have.

Normal people must understand to stop buying when they see the Bitcoin price rising. I never buy Bitcoin when it is already above $70.000. I only buy Bitcoin when it can drop below $65k, it is quite safe price to buy Bitcoin for holding a short term. But if the price is above $70k, it is better to sell than buying.

[Jamal Aezaz]

Yes as we all know "knowledge is power" meaning it is a must and is very improtant especially in this volatile industry. People who has enough knowledge about Bitcoin and stuff does not fall into FOMO because they already know what is happening in the market and they can execute more accurately without rushing. Decision making is critical especially in executing our entry and exit so yeah we really need to acquire enough knowledge to not fall into a wrong emotion fight.

Knowledge will help you to avoid mistakes and make wrong decisions because when you are learning about Bitcoin then you learn each and everything so if your mind is full with all the necessary information regarding Bitcoin then there is no chance to enter into the investment field with wrong ideas.

Knowledge will create your interest towards Bitcoin investment and you will continue Bitcoin investment boldly. Decision making plays a vital role in choosing the investment duration and those people who have an idea about the rate for buying or selling cannot decide anything that has adverse impacts on his investment.

[Hamza2424]

Knowledge will help you to avoid mistakes and make wrong decisions because when you are learning about Bitcoin then you learn each and everything so if your mind is full with all the necessary information regarding Bitcoin then there is no chance to enter into the investment field with wrong ideas.

Yup, I can agree with that point somehow, if check out the current market valuation of Bitcoin I cant expect any of the people who had even a small exposure to the crypto market will go for any such crazy FOMO decisions even though there were many opportunities in a couple of weeks back hen, still those who missed should keep themselves calm. Never lose control in the FOMO as if you had even a small exposure you should know how to accumulate efficiently even in the worst case high valuation scenario.