Even within the larger, long-term trends known as bull and bear markets, the Bitcoin and cryptocurrency markets have experienced several cycles of rise and fall since their inception in 2009.
Downturns can be stressful for seasoned traders and new investors and lead to crypto FOMO.Nonetheless, the market has always recovered and grown significantly following each drop.
FOMO in the cryptocurrency market occurs when an individual makes an illogical decision to trade or invest in crypto. It depends on some information obtained without fully verifying its source and authenticity.
Bitcoin investors frequently make poor investment decisions as a result of FOMO. It entails buying assets at their peak and selling them at their lowest. FOMO (fear of missing out) in cryptocurrency can have far-reaching consequences, including social isolation, anxiety, and, in extreme cases, despair How to deal with crypto FOMO
Below we'll go over several measures you may take when the market drops. It is to protect your savings, resist the temptation to make rash decisions and trade based on your emotions, and get a better night's rest.
1. When investing, think long-term.
If you learn more about what's going on, you can ease the symptoms of FOMO. So, an important lesson from one investor to another is that you need to be patient and think long-term when you invest FOMO is often caused by people who want to make money quickly. But traders make decisions about investments with a few months or years in mind, which is very different from a passive investment that might be made for decades. Let's say you're considering putting your money into a cryptocurrency or another hot stock. In that case, it's important to ask yourself if you'd be happy to have it in your portfolio for a long time or if you're buying it on a whim.
There's no harm in putting a small amount of money into an investment you think is worth it before putting in more. Say the price of a cryptocurrency or stock is going through the roof because of FOMO. Consider making small, regular investments in the asset class, like once a month or every three months..Read More
If you are contemplating playing the virtual currency game, but you haven’t heard of the cryptocurrency thing, the first question that would come to mind is Bitcoin!
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