How to time the top of a pump - My mum asked me if she should buy some crypto because it’s ‘shooting up’.

So, my dear old mother owns a little crypto. Just a smidge of the flippening contenders, but she follows it quite closely.

Naturally she’s been pretty bummed with the recent performance of the lady 12 months and she’s firmly in the red. However, her query this morning set off my wombat senses (I’m no Spider-Man, unfortunately).

“Crypto is shooting up fast! I might buy some more!”

Oh dear, I thought. We’ve got FOMO, it’s back! She proceeded to ask what the good news was that made it jump, and all I could reply with was that liquidity had been pumped into markets to negate a banking collapse. And when I said that, well it didn’t sound very good voiced out loud.

My point is, fomo is rearing its head. If your uber driver hits you up with a hot tip on a new project, perhaps then we’ve seen the top of this pump.

Play safe, I’m enjoying the green for now either way!

Maybe check in with your mums…