The FOMO-FEAR-FUD circle of Crypto

What pushes you to buy a new coin?

FOMO?
You see series of long green candles, the coin is close to or making new ATHs... you see people saying positive things about the token everywhere on social media...in your mind, this is it. This is the coin that will give me 100x. You put your money, coin jumps up 30%... Yes, you were right. This is the right coin... You log out...

After some time you log in to check your 100x investment... Coin is down 25%... You're still in 5% profit but the thought of that 100x won't allow you cashout and exit your position.... Before you log out coin is down another 10%. You're now in 5% loss but that spirit of 100x is telling you to stay...

That's how the coin drops 30-70% from ATH and that's when urge to sell and cut your loss is highest... You panic sell and then you start cursing the day you discovered crypto and spreading fud about the coin , how it's price is going deep into the abyss of the earth (scam coins, shit coins excluded, they truly die or dive deep down in price from where they can't rise again).

To be continued....

Lolzzz.

So familiar with the scenario, infact it happens most of the time, especially with all these shitty coins on pancake and poocoin.

The same scenario played on metagold last week. Am following you jare...

Na wetin make me go back village be this....

Exactly like this.

Twitter influencers hyped the coin soteey I went all in.

They'll be like Diamond hands baby, Just Hodl, don't be a paper hand. They'll literally brain wash you into holding little did I know they were selling on the way up. Omo, can you imagine?
They'll be like this is another 100x just Hodl and be rich.

My 650k, I was just waiting for 10x cos the hype was there, coin did 3x mumu me take profit, no. I went to sleep. Woke up the next day I'm having 150$, worst part I can't sell cos gas fee is crazy, na so 150$ turned to 0.05$.


I wan mad. Since then I've been in the village.

I learnt a whole lot.
firstly DON'T FOMO

I'M DEPLOYING FIAT SMALL SMALL FOR A GREAT COME BACK ...

February/March last year Defi Season was crazy

IgiveLadiesBj:
Na wetin make me go back village be this....

Exactly like this.

Twitter influencers hyped the coin soteey I went all in.

They'll be like Diamond hands baby, Just Hodl, don't be a paper hand. They'll literally brain wash you into holding little did I know they were selling on the way up. Omo, can you imagine?
They'll be like this is another 100x just Hodl and be rich.

My 650k, I was just waiting for 10x cos the hype was there, coin did 3x mumu me take profit, no. I went to sleep. Woke up the next day I'm having 150$, worst part I can't sell cos gas fee is crazy, na so 150$ turned to 0.05$.


I wan mad. Since then I've been in the village.

I learnt a whole lot.
firstly DON'T FOMO

I'M DEPLOYING FIAT SMALL SMALL FOR A GREAT COME BACK ...

February/March last year Defi Season was crazy

Sorry for your loss bro. Most times in crypto we don't learn unless we loss big

Fear can manifest in two situations in crypto.

The first is the fear that pushes you to close your position at a massive loss after investing in a coin that nosedived. This kind of fear will make you lose appetite for food for several days... In your brain you'll be calculating the number of things you could have done with your initial capital instead of putting it in a coin that has now plunged to -30% to -70% of all time high.

The worst part of this kind of fear is when it's driven by extreme FUD related news and posts. Every day you'll just wake up to another red candle... You check Twitter, YouTube, Reddit, Google, Amazon, Facebook, everywhere... Just bad bad news about the coin and people wailing how they lost everything investing in the coin.

Sensing your fear using results of your searches and other communications Google will start pushing negative news to your timeline via subtle ads, blog posts and news articles... Anything to increase your fear... Finally, the fear of losing it all pushes you to sell at a massive loss. The day you do that, it will be like someone died in your house... But it's a coin you invested everything in that died... You'll be very quiet for days... In fact, you'll be the one warning people to avoid crypto.

That is the first kind of fear... The fear that pushes you to sell your coin at a loss.

Mind you, I don't count selling scam coins and other shit coins at a massive loss as a bad decision... You took a bad gamble and you were able to salvage what you can, that's if your entire money didn't disappear before extreme fear pushes you to sell the scam/shit coin at a loss.

Fear can also push you to sell a coin with good fundamentals but declining price at a massive loss. This kind of fear driven decision is a bad decision... Why?

To be continued....

IgiveLadiesBj:
Na wetin make me go back village be this....

Exactly like this.

Twitter influencers hyped the coin soteey I went all in.

They'll be like Diamond hands baby, Just Hodl, don't be a paper hand. They'll literally brain wash you into holding little did I know they were selling on the way up. Omo, can you imagine?
They'll be like this is another 100x just Hodl and be rich.

My 650k, I was just waiting for 10x cos the hype was there, coin did 3x mumu me take profit, no. I went to sleep. Woke up the next day I'm having 150$, worst part I can't sell cos gas fee is crazy, na so 150$ turned to 0.05$.


I wan mad. Since then I've been in the village.

I learnt a whole lot.
firstly DON'T FOMO

I'M DEPLOYING FIAT SMALL SMALL FOR A GREAT COME BACK ...

February/March last year Defi Season was crazy

You are a very funny person seriously, i was just laughing all the way.

Fact is, those influencers, dont HODL as they claim

Some do HODL some stable coins like bitcoin and the rest, but most of them dont practice what they preach.

I wish you a great come back from village.

LandMann:
Fear can manifest in two situations in crypto.

The first is the fear that pushes you to close your position at a massive loss after investing in a coin that nosedived. This kind of fear will make you lose appetite for food for several days... In your brain you'll be calculating the number of things you could have done with your initial capital instead of putting it in a coin that has now plunged to -30% to -70% of all time high.

The worst part of this kind of fear is when it's driven by extreme FUD related news and posts. Every day you'll just wake up to another red candle... You check Twitter, YouTube, Reddit, Google, Amazon, Facebook, everywhere... Just bad bad news about the coin and people wailing how they lost everything investing in the coin.

Sensing your fear using results of your searches and other communications Google will start pushing negative news to your timeline via subtle ads, blog posts and news articles... Anything to increase your fear... Finally, the fear of losing it all pushes you to sell at a massive loss. The day you do that, it will be like someone died in your house... But it's a coin you invested everything in that died... You'll be very quiet for days... In fact, you'll be the one warning people to avoid crypto.

That is the first kind of fear... The fear that pushes you to sell your coin at a loss.

Mind you, I don't count selling scam coins and other shit coins at a massive loss as a bad decision... You took a bad gamble and you were able to salvage what you can, that's if your entire money didn't disappear before extreme fear pushes you to sell the scam/shit coin at a loss.

Fear can also push you to sell a coin with good fundamentals but declining price at a massive loss. This kind of fear driven decision is a bad decision... Why?

To be continued....

That is the psychology