When FOMO sets in
When Bitcoin and other crypto are making one top after another everyone wants a piece of the pie.
So they jump in price does not matter, support and resistance levels does not matter.
All that matters is that when everyone else has is then why should I not have it. That is a typical example of FOMO -Fear Of Missing Out at its best.
This happens it a crypto or asset class reaches at its top.
Say for Bitcoin in its recent times at the close to 60K levels.
Then boom it takes a dip and the retail crowd misses a beat. they wait and the dip gets deeper and bloodier.
Most people do not understand fundamentals or the technical levels they get into or should get out of.
So they are pretty clueless about what they should do with their investments.
The result is that investors are clueless about entry and exit points.
So they may be crying when BTC stabilises at 30K not knowing if and when it would get back to 60K
DYOR before investing
Money is easier lost then made do your own research DYOR before investing.
My Sporty thought
Regular Practice makes a person get better at the chosen sport.