I got your point and that's what I am trying to portray here as the Bitcoin market is already at peak of bullrun and it's too risky for new investment unless it's from an institution. What concerns me more than the market situation is the random posts speculating bitcoin to reach over $100k without any logic or reasoning behind their post.

Earlier this week, I met someone in my locality that made absurd predictions for Bitcoin's price in the coming year. He predicted that Bitcoin would be priced anywhere between $250K to $400K with a marketcap above that of gold. While I'd really like to see this come to a reality, I can't get over excited and forget that the market doesn't always move in one direction. Since it's been trending for several months now, there would be time for correction too and I don't want to be caught with my pants down when that happens. I learnt a lot from the previous bull run and I'm not willing to make such mistakes this time.

Ain't that surprise me why many people come into crypto and invest when the market is in the bullish season because they wanted after investing, they gain money back shortly. I really don't think it was a smart idea especially when you are buying at its peak period just like now, he might face a huge risk and possible losses will come into them if the market dumps right after the trade.
I could say that people aren't yet learning from the mistakes of last 2017 or they are just risk-takers, totally.

FOMO started since we hit $10k, specially when the news broke out of institutions and companies putting their reserved assets in bitcoin. So this is very different from 2017, wherein there are a lot of irrational buyers and even if we already reached the bubble, still many people buying bitcoin because they think it will go to $50k.

But this time, as I have said before, bitcoin's narrative is flipping from a speculative asset to hedge against government QE and worsening market or financial situations.

Even in the bearish time, there were a lot of predictions that have been given and those were positive predictions and high as we can't think. We've learned a lot in the past 2017 and 2018 bears, and to take decisions this time is also hard. But if you took profit at these $20kish prices, that's already a good chunk to take with you. But going with the long term is going to be the most rewarding, only if you believe in bitcoin and what's waiting ahead of time.

A lot of newbies will FOMO with this current rally, there will be some prediction that will be so good no to be ignored so we need to watch out. Do not base your financial judgment on someone's opinion or prediction. Be responsible

Er?
The amount of BTC being mined has nothing to do with how much is available for trade. And ya do know that it will be over 100 years before the last Bitcoin is mined, right?

FOMO buying takes place each time a resistance is broken specially if before its breaking there were a long accumulation phase. For instance back when price was in $3k range for a long time and $4k was the resistance, after it broke there was a massive FOMO.
These days there aren't any major resistances yet ever since $20k (the last major resistance) was broken and since there isn't any long accumulation phases (only short ones) there isn't any major FOMO going on either.
Besides the real wide spread FOMO only takes place near the end of the bull run during the time price enters the peak of the bubble which is not going to happen for at least a year.

Well, in as much as people will fomo but I hardly think they will do so like those of 2017 this is because by now I believe a lot of people have learnt a very good lesson about Bitcoin and chasing a pump. Also, I agree with you, that anyone thinking of buying Bitcoin now should be sure he is a long term holder so that when the price drops he won't be bothered but rather wait for the next bull run, which might take time or might not. Secondly, I think people should be careful of the unrealistic predictions as well, because it is a huge trap set to get those who hardly study the market and past experiences; if they can selling a portion when in profit is also good. Lastly, in whichever case, I also find it very important to invest only the amount one can afford to lose and not his entire savings, such that when Bitcoin dumps like that of 2017, the person won't join the bandwagons to call the crypto space names.