FOMO Reset
We all find ourselves saying "I wish I got into X earlier, I think I missed it" or "I hope it dips a little bit so I can buy some more" but then look at the news around the crypto sphere and it looks like the world is on fire.
I can't understand it.
This dip is a gift for those who have been watching prices skyrocket over the last few months without being able to accumulate. This is the fix for FOMO in my opinion, it's like a reset with another opportunity to get in.
It is purely psychological that the dip scares people and it is ironic in my view. People ask for a dip all the time and then when it comes there is too much fear to take action. If you are trusting in your investment plan, I don't think that short term price should matter. In fact, a lower price would be a welcome site as you are able to accumulate more tokens for your purchase. Dollar cost average proponents are salivating with what the market has done the last 24 hours.
The Damage = The Opportunity
- Bitcoin is down about 40% from its ATH
- Ethereum is down around 35% from its ATH
- Cardano is down around 27% from its ATH
- Leo is down around 70% from its ATH
Now I am no financial advisor and I could be totally wrong here, but I believe in all of these projects and can't imagine them not retesting and surpassing these ATH's in the future.
If you haven't blanked 2020 out of your mind completely you may remember that Bitcoin took a massive dip in March 2020 from around $8000 to below $4000, a dip that was over 50% of its price. This is nothing new. Think about how it would have felt to get Bitcoin at $4000 and then watch it testing $60,000 just a year later. Who knows? This pattern could very well repeat itself with an extra zero on the price tag.
To me the dip here seems quite synthetic and even propelled by fear. China seems to ban Bitcoin all the time, I don't think it should reflect a dip of this proportion. None of the infrastructure has changed or gotten worse. The great projects are still great in my opinion and still maintain the forward thinking vision that has made me believe in them from the start. It feels like this dip will be short lived... NFA
My Plans
Currently my main financial focus is getting the initial funding for the new tribe @dunksocial together before our desired June 1st launch. That being said, I will be trying to accumulate both Bitcoin and Leo tokens in the coming weeks if this dip is extended long enough that I can cover expenses and have investing funds left over.
If it were possible, I would be stacking tokens from all of the projects that I mentioned as I am partial to believing that these are some of the biggest world-changers in the future. Do your own research, but these are my opinions. To me this looks like a discount on the projects that we have been believing in for all this time, why change up now that it is more affordable to accumulate?
@mariosfame gif once again, I love it
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Who I am:
My name is Rob and I am a college student doing my best to get involved in the crypto world. I have enjoyed blogging thus far and thank you for reading my article! Give me a follow and let’s build the community together through consistent engagement.
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It's always psychology and human decision making is extremely flawed, those that understand this and can keep a clear mind without getting emotional in these dips (cause that's what it is a dip not a crash!) will get far.
So don't get emotional, anyone reading this: you can consider it financial advice if you want :-)
Well said, it's never financial advice but it's always financial advice LOL
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Ain't that the truth!
I would say you should just avoid watching the prices and continue on your normal plan. The emotion and flash crash wasn't something I was really expecting. But I don't see anything wrong with buying it as nothing changed from the long term point of view.
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completely agreed, having that zoom out type vision is important
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I unfortunately made the mistake of buying in the first dip, but hopefully I'll still make it out of this with a good result.
I agree with you, this is an opportunity whatever the coin you are looking at.
I'm sure you won't be calling it a mistake this time next year! NFA
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Long term you will likely do very well. Hard to time markets exactly. Just keep them bags growing. That is what is important.
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Rob man you are going at a Ferrari pace, it's incredible that you already have a project like that in mind, that's my friend, that's how opportunities are created, I will wait for more information about your project and I will gladly support you.
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Thank you for the kind words Fabian, really hope you enjoy the end product and get involved in some way!
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It's amazing indeed. Great opportunity to buy some cheap BTC. Unfortunately many fail to realize that you don't really lose money unless you sell out so they mess up due to panic.
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Fair point, everyone will learn in time though
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That was quite the dip.
I went pretty heavy into Cub, and was just beginning to back-fill my Leo.
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Solid pickups, I went with a little BTC and a little CUB as well
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Man, I couldn't agree more.
I mean, this is probably THE opportunity of the year so far to invest in those coins or projects we sometimes look at and say "yeah.. well but it pumped already so I'll wait until it goes down and buy some" and then when the moment comes, people stays frozen by FUD and in the worst case they panic sell... WTF ??!!
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It's a ton of reverse psychology at work. I just hope that showing people how far the prices are from ATH snaps them out of it. However, I think that the readers on Leo Finance are among a select group of people who know what they are doing, perhaps I need to share that info elsewhere as well.
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Yes you should, it's a great read !
100%
It's funny how everyone says that wish the price would go back to $x.xx, yet a market turn and a price drop doesn't make a buy signal for those same people.
If you believe a project long term, the price from one month to another isn't that big of a deal.
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Fear is an incredible barrier to success. Well said here, I agree on thinking about what makes a project worth being invested in and its not always about the price
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I couldn't agree more with you man!
A great opportunity for the patient!
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I always keep some liquid cash alive for such opportunities. It works!
Once I am done buying, I will start preparing for the next one. 😁
Btw, all the best for your Tribe man. So happy to see things moving.
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This is my lesson learned, as a newcomer to the crypto and investing in general.
Always keep some cash to buy those big dips !
Best 'crypto lesson' ever!
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Agreed! Good luck with your funding. It is awesome that you try to fund while still in college!
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The debt will sneak up on me starting next year, might as well try to do something before paying for my four year jail sentence LOL
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Just another day in crypto. It goes up and it comes down. The market cannot help itself.
Those who look long term are unaffected by this. If there is still some powder left in your keg, might be a good time to add. If not, just enjoy the roller coaster. It is not going to crash at this moment.
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You really never know which way it is heading, could bounce all the way back by the end of the week
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Buy the dip on good projects and hold.
Guaranteed result.
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Not financial advice, but 100% right and should be financial advice LOL
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💥Boom💥
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Love to see this, thank you for the continued engagement on the platform!
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