The Fear Of FOMO Is The Beginning Of Wisdom ($BONK Tales)
So around noon yesterday, I got a call from my brother asking me if I got any $BONK. Well, for a second, my mind went somewhere else (bonk for beds), then I asked if it was a crypto and he said yes, that it's going crazy and he just bought. Well, I hadn't been on twitter for a few hours and when I logged in, $BONK was literally everywhere. This looks familiar, just another shitcoin mooning and everyone is talking about it as usual.
My brother had bought $100 worth and had gotten profit of $10 in just a few hours and it did felt like I was gonna miss out on something huge with the way everyone kept going on $BONK.
But then, over the years as a crypto enthusiast and investor, if there's one thing I've learnt, it is to not FOMO, no matter what. Yeah, FOMO has paid off a couple times for some people and that one time when I FOMOed into $LUNA's crash hoping it would go back up, it did and I made a couple bucks, but that's the only one time I actually did FOMO and it was profitable and this profit was because I didn't FOMO the usual way when a cryptocurrency's price is pumping.
I don't know about you but FOMOing in the bear market into a shitcoin built on Solana, that already did over 1000% in two days and is a project with around 20 addresses holding the largest volume sounds like a bad idea to me right now. I would definitely be happy with I had some $BONK before the pump, but nasty things happen around here and I know a bit too much to not become a source of liquidity for some big cash outs.
I've always stood by a saying and yep, it has been a guide so far - "If it's popular already, you're probably late, look elsewhere" which just means that it best to either keep investing in projects that would survive th bear market and would yield profit in the bill market or invest in a project just before it gets popular. I'm on the lookout for solid projects with a great community of true investors.
And yeah, my brother's $100 is currently down to $85. He doesn't listen, well, let's hope his FOMO pays off, or he gets out with the little he can.
PS: This isn't me underrating $BONK, it just that it is what it is. FOMO kills, and i'll pass this one perhaps till I see a good reason to invest in it.
Great post I agree with you no matter how tempting it may be, it's always wise to do your research and due diligence before investing in any crypto project, particularly meme coins. Otherwise, you may find yourself FOMO-ing into a project that could end up being a total dud, leaving you with a wallet full of nothing but disappointment and a hefty dose of buyer's remorse. So, if you want to avoid a financial disaster, don't get caught up in the FOMO-ing - especially when it comes to meme coins - Hope your brother will be able to get his $100 back from $BONK I enjoyed the post thank you take care and have a great day !LUV !PGM !PIZZA
Posted using Bilpcoin
BUY AND STAKE THE PGM TO SEND A LOT OF TOKENS!
The tokens that the command sends are: 0.1 PGM-0.1 LVL-0.1 THGAMING-0.05 DEC-15 SBT-1 STARBITS-[0.00000001 BTC (SWAP.BTC) only if you have 2500 PGM in stake or more ]
5000 PGM IN STAKE = 2x rewards!
Discord
Support the curation account @ pgm-curator with a delegation 10 HP - 50 HP - 100 HP - 500 HP - 1000 HP
Get potential votes from @ pgm-curator by paying in PGM, here is a guide
I'm a bot, if you want a hand ask @ zottone444
@teesart, @bilpcoinbpc(1/3) sent you LUV. | tools | discord | community | HiveWiki |
NFT | <>< daily
I gifted $PIZZA slices here:
@bilpcoinbpc(1/5) tipped @teesart (x1)
Please vote for pizza.witness!
Great post! I agree that FOMO can be dangerous in the crypto market, especially with so many new and risky projects popping up. It's important to do your own research and not get caught up in the hype. Glad to see you highlighting the importance of looking for solid projects with a strong community of investors.