Hello steemit friends, in this post I will answer some of the questions given by the mini crytop task made by @liasteem

Payouts 10% to @steem.education

• Explain what FOMO is?

FOMO or Fear of Missing is where one cryptocurrency coin continues to rise to the highest level, forcing traders to buy. Here we see a lot of traders who are in a hurry in making decisions to buy crypto coins that are again FOMO without knowing the cause and effect of whether the price goes up or down again, In the world of crytocurrency if we have bought a currency (coin) there is something called Hold and Cut Loss here I will explain both.

Hold

Where we have to hold a crypto currency that we believe will experience a high increase or it could be that the crypto coins we have drop drastically and force us to hold.

Cut Loss

Cut Loss means cutting losses or accepting the fact that the price of the coin is beyond what we predict, so we release the coin at a loss so as not to experience a bigger loss.

When the price of the coin is still FOMO, many traders take advantage of the situation, big profits occur until the coin is sold, there are also those who buy when the price is again FOMO hoping it will rise even higher, this situation has been felt by many get-rich-quick traders is one main goal .

• Explain what is FUD?

FUD (Fear Uncertainly Doubt) is where investors wait for the price of crypto coins to drop so they can buy them in the hope of getting a lot of profit when they buy at a very low price. Here they are also in a hurry to make decisions, every investor expects profits to be multiplied by their predictions that they will rise drastically, an analysis made by predicting the price of the coin will rise but what happens is that the coin price is going down and makes them lose.

As investors, of course, we are afraid of losing or losing assets owned as investors or novice traders when their coin experiences FUD, of course they will be afraid of this, why not because the loss has been experienced, when this happens, the assets owned will be sold when they experience a loss , learn to determine which coins to buy and make the right analysis so that losses do not occur.

• Explain where FOMO occur! (Need screenshots)

FOMO cycle occurs

In the screenshot above we can see when FOMO occurs in one of the crypto coins, the highest price is widely used by many investors so that they quickly have a lot of profit so they buy and hope it will rise again, this could happen to make a profit or even lose when the coin drops.

• Explain where FUD occur! (Need screenshots)

FUD cycle occurs

Currently there are many investors who experience losses because they buy when the price is experiencing FOMO, this becomes a fear for investors as well as investors waiting for a moment like this with a cheap price they buy and expect big profits to occur when the coin price experiences FOMO so that they can sell it.

• Choose the 2 cryptocurrencies you want, then use the graph of the 2 cryptocurrencies to explain where FOMO and FUD occur! (Need screenshots)

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First, I chose the Hive coin where when there is FOMO and FUD like the screenshot above, the most important thing is to be mentally prepared to face FUD and don't be in a hurry to experience FOMO.

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And secondly I gave an example of Cardano (ADA) coins when coins experienced FOMO and FUD, this is the same as the explanation above about how when we experience conditions like this, the most important thing is not to be in a hurry in choosing coins, study the charts well of the coins we want to buy.

All screenshots of my FOMO and FUD cycles are taken on my own Binance account.

• Conclusions?

In crytocurrency trading we will experience 2 things that are certain, namely profit and loss, when you experience a loss, don't ever panic about the situation, hold it until the price rises again so that losses don't happen to you, learn everything well, make the best analysis possible in order to get a profit in trading crytocurrency , And when the coin price experiences FOMO or FUD, don't be too hasty in making a decision 👍.

that's the task of the Mini Crypto Program, Part 2 that I made, hopefully with this program it can add insight for me personally and the head of all steemians, thank you.