Quote from: letyouearn on Today at 08:53:41 PM

Quote from: motun01 on May 03, 2021, 11:14:47 PM

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

Hello, my friend. Stay awhile and listen...

That's behaviour is caused by human psychology, and if you fully understand how this works and how the crowds are being easily manipulated by the guys on the hill, you will definitely wake up rich one day

That also makes the price of a certain coin have a significant pump in just a short period of time, FOMO is not good because buying and that would result in someone being able to buy a certain coin with an overvalued price. It's usually effective for the short-term traders as they can just dump it again with just a small percentage of income, but for holders, the best time to buy is during the bear market.