The Fear Of Missing Out (popularly known as FOMO) on an acute increase in a crypto asset’s price is pretty risky as the trader gets trapped in the sentiment of being left out when the price has escalated significantly enough. They get caught up in the fear that the price will continue to hike and they’ll end up missing out on the gains. Sometimes this fear is too hard to overcome and will, unfortunately, lead you to make a purchase when the price of that crypto asset is about to decline.
Always remember that in this digital currency world, it’s not important to win every time, nor is that even possible considering manipulative pumps and dumps. Make sure not to simply make impulsive decisions based on good news, instead, take some time to analyse the market. One of the pro strategies to keep in mind is, buy the rumour and sell the news. Stay alert and let your FOMO melt away before you make a trade.
