Title says it all, this sub’s catch phrase of buy high sell low or buy high sell never highlights the issue of FOMOing in at the ATH prices that a lot of early investors get swept up in. The idea that the chart will always be going up so why not be greedy and invest now only to see the crash that follows and the inevitable paperhand out of the market.
And yet this FOMO only counts for half of the gradual increase of the average buy in price. The other half is people refusing to buy in even when the market is ridiculously low.
Just today I’ve seen people that are waiting for ‘the real dip’ before they buy in more. BTC is down almost half it’s ATH and neither further threats of inflation or invasions have significantly broke it lower. BTC and ETH are looking at semi safe x2 within a few years maximum, the best investment on the market while there are many high position alts that, while riskier, could easily go x3-x4 if not moon exponentially. To turn down these returns for some hypothetical higher return is just pure greed.
Obviously the market can always go down further but the greed that people refuse to buy in at present prices because they think they can get more if they HOLD their fiat is ridiculous and you know these are the same people that will FOMO in once BTC has already mostly recovered, realising that they were waiting for a price point that never arrived.
Edit: To Mr Pedantic Redditor, yes the ATL would be 0, well done, you’re so smart and helpful but to be ridiculously clear I ***obviously*** meant recent ATLs.