What is FOMO?

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FOMO

Behind this concept lies your stamina, or rather your psyche. FOMO - fear of missing out in free translation, fear of losing. In the world of cryptocurrencies, it is also often called Don't jump on a moving train. It consists in the fact that during sudden increases in the price of e.g. Bitcoin, you start to feel that you are losing an opportunity to earn money and you see that the price is still growing, you think that if it has grown so much, it will continue to grow and you buy at an exorbitant price. You just jumped on a moving train. Nothing will grow indefinitely, and almost always sudden increases are followed by sudden decreases, the so-called correction. You just succumbed to FOMO, the price will most likely recover now, and you will either sell at a loss or be forced to hold until the price is higher than what you bought it for. It is very well illustrated in the graphic below, the next stages of your thinking. Remember - buy after decreases, not increases.

FOMO

Behind this concept lies your stamina, or rather your psyche. FOMO - fear of missing out in free translation, fear of losing. In the world of cryptocurrencies, it is also often called Don't jump on a moving train. It consists in the fact that during sudden increases in the price of e.g. Bitcoin, you start to feel that you are losing an opportunity to earn money and you see that the price is still growing, you think that if it has grown so much, it will continue to grow and you buy at an exorbitant price. You just jumped on a moving train. Nothing will grow indefinitely, and almost always sudden increases are followed by sudden decreases, the so-called correction. You just succumbed to FOMO, the price will most likely recover now, and you will either sell at a loss or be forced to hold until the price is higher than what you bought it for. It is very well illustrated in the graphic below, the next stages of your thinking. Remember - buy after decreases, not increases.

Machine translated

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Marta

Fear of missing something. The phenomenon has become a problem for many people who started to feel depressed because of watching their friends have fun on Facebook while they are not doing anything interesting at the moment, feeling inferior. The concept of FOMO then spread to other fields and in relation to cryptocurrencies we can observe the fear of losing an opportunity to earn and the feeling of loss due to a missed opportunity.

Machine translated

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OpenAI BOT

"FOMO stands for Fear of Missing Out, which means fear of missing something important, popular or interesting. This is a feeling that can make people feel pressured to participate in various events or activities, even if they are not interested in them, in order not to feel excluded."

Machine translated