The phrase “fear of missing out” (FOMO) originally referred to the anxiety that results from realizing that other people are taking advantage of an enjoyable or exceptional experience while you are missing out. On social media, it is a widespread occurrence where users’ feeds constantly highlight and emphasize the positive and fulfilling aspects of their lives, making the viewer feel inadequate or miserable about their own experiences and situations.
In the world of cryptocurrencies, FOMO, or “fear of missing out,” refers to a trader’s worry when they notice a significant increase in the price of bitcoin or another altcoin. A trader might spot a price fluctuation that seems to be a good indicator for a specific coin early on when the price of a cryptocurrency is highly volatile. The price appears to be at a decent point to buy when it has already increased significantly. As a result, the majority of traders sell coins for less to buy them for more later.
Manipulation occurs frequently in the field of digital currency. As a result, those concerned about missing out on the current surge in value are exposed to losses when prices collapse.
Always remember: Don’t let FOMO run your life.
