I always wonder why a lot of people fomo to buy a coin or token after the price has pumped. In this present bull run I've seen a lot of people FOMO and buy cryptos at a really high price and they quickly dump when they witness drawdowns.
Isn't that just hustling backwards?? Its almost like they are trying to loose money on purpose.
So i wonder why they FOMO to buy in the first place
Well i think the name FOMO speaks for itself. People that are buying projects after they have already pumped a lot just look at how many times early investors have already multiplied their investment and just want that the same thing happens to them. Of course the fact that the coin already pumped makes it actually more unlikely that it keeps increasin in a significant way but a lof of time people just act emotional and therefore make mistakes. It's the same when you have a coin that is suddenly dumping. There are also people that realize that one of their coins suddenly lost 50% of it's value and instead of waiting until the price recovers they also dump their coins, which generates a chain reaction of more and more dumping. This kind of behaviour is just in the human nature, but it should be avoided when you are trading and holding cryptos.