It doesn’t necessarily prove that the investor has faith. Out of the people who have invested at ATH, a handful of them are people investing out of FOMO. They don’t really believe, they are just scared that they will be filled with regret if the rocket actually leaves the sky as people hype it. But those who are really long term investors are safe. As long as they are committed to it and don’t eventually have weak hands.
There are many things like that,
but for BTC there is nothing wrong with buying it in fomo conditions but not in other conditions. Even if the price drops after buying BTC, it will quickly rebound again. what we are afraid of is for other coins which may not necessarily perform that way.
In a few days time there will be a Halving, I think market sentiment and further adoption will happen quickly, but what we will see after that is that it will continue to rise or there will be a temporary reversal.
I don’t agree. There is
everything wrong with FOMO-ing into investments whether it is Bitcoin or an altcoin. Investments (cryptocurrency or life assets) are supposed to be thought through properly. With FOMO, you can invest too much because of greed. With FOMO, you can skip many steps of investing smartly (like having an exit point). The price could drop and not come up as fast as intended and then the investor who didn’t have a proper plan would sell because it was all FOMO. Never FOMO into anything unless it’s just some really spare money that you don’t mind it being lost.