SHORT STORY : so a couple of weeks ago I coincidentally got slightly closer to a degen trader who happens to be a web 3 expert too and he's quite a good and profitable one too. Anyways long story short... During what I like the call the most recent GREAT DUMP he had a ton of SOL he acquired at around $165 per SOL and when sol dumped to around $90, he comfortably panic sold and was like who knows if SOL will pump back again.
I don't know who bought Solana around $165 and panic sold that altcoin about $90 is truly deserved to be called as web3 expert or just generally expert in cryptocurrency. These actions are more similar to newbies' actions rather than from experts in this market.
Now a typical bitcoin HODLer will think the opposite and even begin considering his options of buying more to add to his stash. And that brings about the question ;
How effective is the effect of FOMO resistance on a bitcoin hodler's psychology?
People are human and they can be FOMO and panic anytime, and it's applicable with Bitcoin hodlers too. Big differences between Bitcoin hodlers and newbies in a same Bitcoin market are experienced hodlers have better strategies, more experience in this market and they are more disciplined with their actions. I don't imply that experienced hodlers make no mistake, in fact they do make mistakes for example FOMO or panic but they make less such mistakes.
It's completely different with newbies who tend to make more mistakes and they also have less financial management. This leads to worse consequence that their mistakes usually result in bigger losses than what experienced hodlers get with their less frequently made mistakes.
