Assalamu'alaikum all steemian mini crypto assignments that I made were made by @liasteem and I will try some questions on this assignment, happy reading.
Explain what is FOMO???
FOMO or Fear of Missing Out is commonly referred to as what is happening right now or what is happening. this is a phenomenon where the price of a crypto coin is at the peak of the current price, this can make someone arrogant because he already has a lot of assets until he becomes rich, on the other hand there are also those who feel jealous of that person to decide to buy during the cycle again experiencing FOMO.
FOMO is caused by the jealousy or greed of someone who wants to get rich quick when the market price is at the peak, so they take wrong decisions and predictions, this greatly affects the investment value and makes them lose.
Here I do not give an example of where FOMO occurs because I will explain it in the question below so that the same answer does not occur because of the same question.
Explain what is FUD?
FUD stands for Fear Uncertainly Doubt this is the influence of investors in making purchases in the crytocurrency market. In FUD we see a lot of losses for new investors in determining which coins to buy because of wrong predictions, as market users who are very afraid of losing assets until they experience huge losses.
In this incident, many newcomers were afraid because of the occurrence of FUD, they thought about how the assets were not lost or the losses were in front of their eyes, as newcomers of course this was very scary to make them sell all the assets they had when they experienced a loss. the big ones at that moment their mentality became weak.
This is all due to their lack of knowledge in the crytocurrency market when FUD occurs if they are patient then losses will not occur because this bearish cycle is not a place to sell assets, just keep the assets they have, and wait until the bullish cycle occurs.
In cryptocurrencies we must prepare ourselves mentally so that fear does not occur.
• don't be afraid to lose
• patience
• perform analysis
• Make predictions
• And understand the market cycle
Explain where FOMO occurs! (Need screenshot) ??
Image From Binance
The occurrence of a FOMO cycle like the screenshot above where when the market is at its highest cycle, when this happens they will think that they will quickly make big profits even though what happens is that the market is bearish, for other traders they will assume this will experience a Normal price decline and steady increase, and they don't know that other big traders are buying all the assets they trade to make big profits.
Explain where FUD occurs! (Need screenshot)
Image From Binance
The cycle when the FUD occurs is usually used by traders or investors to buy assets that they think are the lowest price making them buy it, this is very different from those who buy when the price is FOMO so they experience losses, in these 2 situations between FOMO and FUD we can learn how to cope when it happens.
Choose the 2 cryptocurrencies you want, then use the graph of the 2 cryptocurrencies to explain where do FOMO and FUD occur?
Image From Binance
The above is an example of a WIN coin cycle where when the coin experiences FUD and FOMO, here we can see the price of the coin has decreased and increased.
Image From Binance
This cycle is from the SOL coin where when the coin experiences FUD and FOMO, this explanation is the same as above, and I make sure all coins experience the same thing it is up to investors to overcome this.
Conclusion!
Experiencing FUD and FOMO is something that cannot be avoided, this depends on how investors make the best choices according to themselves, learn to analyze well so that they can make the right predictions so that losses do not haunt us in the world of cryptocurrencies, everything is here this can happen depending on how we can overcome all of this, our mentality is strong in this world, don't give up easily, stay on your own beliefs.
Thanks to professor
@liasteem for making this mini crypto assignment studying the world of cryptocurrencies I'm very interested, and wish us all the best.
Thus, I made this assignment, if there is an error, please correct it so that I can fix it, greetings @rizkyanga.
Dear @rizkynga ,
Thank you for participating in this Mini Crypto program, I really appreciate your good intentions and your efforts in understanding our practice this time.
Here is an assessment of your practice;
FOMO and FUD are not always above the trend line or below the trend line. FOMO and FUD happened because of several things before it.
FOMO and FUD cross each other but they have a negative value and can affect market trends.
In graphic shooting, you can use the desktop screen.
use clear graphics, you must master the chart settings first, this will give you convenience in making exercises or courses at Crypto Academy later.
Don't doodle too much.👌
Use the usual charts to study, such as TradingView charts and the like. Because we are still learning, TradingView also gives us to make buy/sell .🙂
Thank you very much, we will waiting for your next exercise, and we will waiting you at the season 4 of Crypto Academy. 👍💪
Has been assessed by;
@liasteem
@steem.education