Post
Topic
Board Nigeria (Naija)
Topic OP
FOMO and Bagholding.
by
Jon pyagbara
on 16/06/2024, 17:57:01 UTC
The fear of missing out (FOMO) have drived many crypto currency investors into bagholding,  FOMO will make an investor to acquire a coin at a high price, with the fear they might miss out on future gains, and suddenly the price of the coin starts dropping, With the hope that the coin will rise again the investor will still hold unto the coin and the coin begins to depreciate further, this circle repeats turning the investor into a bagholder. So the fear of missing out is actually the reason why most investors are bagholding.
To break this circle you have to
1. Set clear investment goals.
2. Always use the risk management strategy.
If these two are put into practice investing in a coin won't lead to bagholding. Staking coins are good but not when it turns into bagholding.