Quote from: Yamifoud on August 26, 2021, 11:22:20 PM

Quote from: South Park on August 26, 2021, 07:18:12 PM

Quote from: Cafex on August 22, 2021, 09:00:08 PM

Exactly that is what is happening right now. The market is on the rise at a high pace. People who see this don't want to miss the opportunity of investing into cryptocurrencies and making a good profit. They are just FOMOing now. And FOMO is not a very good thing. It can make someone lose a lot of money in some situations. People should be aware of this before making an investment. Panic-buying is not your friend.

But you know what is the worst thing? I think they are going to get profits out of this FOMO which means that the next time this happens they are going to do the same thing again thinking they are going to get profits and may even use leverage and when that happens then they are going to face huge consequences as they will lose a great deal of that money, this is why it is important to buy when there is a dip and not when the price is going up, but people like that will probably never get this.

Many people just come into crypto and started investing when the market is hot and it is hyped. I'm so doubtful about this idea but it looks like it was been a practice my most. And this could be the reason for many people are suffering losses and they just blame Bitcoin instead of blaming themselves as that was obviously their fault.
I don't know why, but this FOMO, panic buying are the things that we need to stop otherwise, we can never see good on us but just a losing ends.

It is going to be incredible difficult for people to stop this kind of behavior because as we know the markets are driven by emotions, so while in theory every single decision that you take in the market should be based on the information you have, the knowledge you have accumulated and the experience that you have as a trader or investor the truth is that most of the decisions that are taken in the market do not take into consideration any of those three factors and people only use their emotions, which is a clear mistake, but that is what people do.