IN crypto investment, Fear of Missing Out (FOMO) is a scourge that often haunts investors, especially beginners. FOMO, the fear of missing out on the opportunity to make big profits from rising crypto assets, can drive hasty investment decisions that are not based on in-depth analysis.
This phenomenon is often triggered by stories of crypto assets skyrocketing drastically, giving rise to a fear of missing out on opportunities.
Like the case of Squid game coin which experienced a fantastic price increase before it was finally revealed as a fraud scheme. This condition shows the importance of understanding how to manage emotions and avoid the FOMO trap.
Here are tips for avoiding FOMO on crypto investments according to Pintu Academy.
Overcoming FOMO requires discipline and a mature investment strategy. One effective step is to set realistic investment goals and targets.
This includes determining crypto assets for long-term investment and weighing the potential of other assets for short-term purchases based on fundamental and technical analysis, not just following trends.
Also read: Effective Tips for Managing THR Money for Investment
In the information era, it is very important to get information from credible and neutral sources, which do not only focus on price projections, but also provide comprehensive analysis including existing risks.
Use the Dollar-Cost Averaging (DCA) strategy to eliminate emotional influence in investing.
By investing regularly without paying attention to market price fluctuations, investors can reduce the risk of losses due to inappropriate market timing.
In addition, portfolio diversification is an important principle in reducing risk. By spreading investments across multiple assets, losses in one asset can be offset by gains in other assets, maintaining overall portfolio stability. (RO/Z-1)
#Tips #Managing #FOMO #Crypto #Investments