What is Cryptocurrency FOMO? And How to respond to FOMO
FOMO stands for Fear of Moving Out also defines as Fear of Regret. Everyone has their own version of the abbreviation. Though it actually means Fear of Missing Out. FOMO may lead to a compulsive concern that one might miss an opportunity for social interaction, a novel experience, profitable investment or other satisfying events. In other words, FoMO perpetuates the fear of having made the wrong decision on how to spend time, as you can imagine how things could be different.
The meaning is same in terms of cryptocurrency, make a wrong decision of not investing in some coin and it reached to the moon or started pumping hard, At this time you are in a state of FOMO as you know about that coin and not invested in it. So, with FoMO you bought some so that you will not feel regret after it increased further.
But FOMO also let you make wrong decisions. Sometimes when a coin started pumping and due to FOMO you bought it later dumping happens and you regret.
So, in case of FOMO, you need to re-analyze what causing that FOMO and then decide what to do.
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