The Fear Of Missing Out

I'm personally experiencing a kind of FOMO, the fear of missing out, regarding altcoins. We know that the alt-season will come soon, I think around beginning of spring, if not before.

So I'm spending a lot of stressful time, and energy, trying to understand which Altcoin to keep and which to discard, because not all of them will emerge in 2021 as winners. There is no room for them all. But this search for the "good one" push me, and most traders, in strange tentations, and predisposes at making errors. Errors to be paid later or soon, and maybe hard.

I made a post in the past, regarding the fact that usually Bitcoin overperform all other crypto assets, at least in the long term, this is true now. Look at the BTC dominance: is the percentage of the Bitcoin total market capital with respect to the total market cap of all crypto assets togheter. Now this figure stands at 70%; that's enormous. When this number lowered in the past, it was mainly because of the many more new projects appearing in the skyline, not really because of them being more successful than Bitcoin.

So in the spirit of my precedent post, I was suggesting you and myself to keep just Bitcoin and a few favorites, and at least some % of the portfolio in stablecoins, but actually I've suggested to keep EURO€ , and I was perfectly right: since then, the US Dollar lost around 7% against the European currency.

Here, I'll show you something you should be comfortable with. If you don't, you should look it more often and in deeper details.

That's the "coin tree map", I took it from CoinGecko. It shows the relative market percentage of all cryptocurrencies, represented by their respective area. The "map" is self explanatory, and it's more "telling" and interesting than any chart. Of course things change continuosly, nobody is using this tree map to demostrate something like "Bitcoin will dominate forever". But it's an hint.

However, given the above, I'm weak psychologically. I'm still listening to my FOMO side of the brain, which tells me to look for bigger gains. Actually, I would prefer to stay in a safer and smaller house made by Bitcoin, Ethereum and few others (Litecoin, Chainlink and now Polkadot) as I should go fine and healthy. But the power of FOMO can't be undervaluated.

What I want to do here is to bring you my experience, perhaps useless to many of you, but I still want to give it a try. I'm maybe just a stupid trader, or analyst, but it's not easy as many here want you to imagine.

To have a profit in this crypto-world, as with stock market, means that somebody else lost something; the only way to have everybody happy is to have a constant inflow of new people investing money, and so on till infinity. Otherwise, loosing money is a more than probable destiny. Be careful to what your FOMO side of the brain tells you; this is an error as old as the world itself. Don't fall in the misconseption that everybody leaves the crypto market with an heavier wallet.

This being said, I hope you'll have a funny New Year Holiday tomorrow, and that 2021 will bring you (us) just nice news. Thank you for reading and tipping :-)

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