Be Stronger Than FOMO and FUD Feelings in the Bitcoin World – 6 Golden Rules To Apply

#3: Define a strategy, then stick to it.

Bitcoin is the world's only truly free market. Period.

Bitcoin users are free to find the equilibrium price of Bitcoin 24 hours a day, 7 days a week, 365 days a year. There are no circuit-breakers like in the stock market to come in and stop trading when panic strikes.

Thus, volatility is a feature of Bitcoin, not a bug. This is a great thing if you learn to make it your best ally. To do that, you'll have to overcome two feelings that turn out to be the enemies of many investors. You probably understood that I meant FOMO and FUD.

The FOMO (Fear Of Missing Out) feeling will take hold of investors when the price of Bitcoin goes up sharply. Out of fear of missing out on a unique opportunity, investors will lose control of their emotions and buy in a frenzy.

The FUD (Fear, Uncertainty, and Doubt) feeling is seen much more often. It is used constantly by Bitcoin's opponents who seek to scare the general public away from discovering this incredible monetary revolution. It can also happen when rumors spread on social networks. Many investors start selling in a panic and don't even take the time to check the source of the rumors.

Yet Bitcoin's motto has not changed since its early days: “Don't Trust, Verify”.

To help you be stronger than FOMO and FUD feelings, I will remind you of the 6 golden rules to apply in the Bitcoin world. For Bitcoiners, this will be a reminder that is never superfluous. For beginner investors, it will be an opportunity to quickly develop good habits.