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Rachel Welch

26 September 2022 151 Read Altcoins

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What is FOMO?

FOMO stands for fear of missing out. It's the fear of not knowing something, or being left out of an opportunity. FOMO can be triggered by important information, events, experiences, or life decisions. It can be difficult to describe, but it's a very real and pervasive feeling.

When FOMO hits, traders are more likely to make irrational decisions, which may result in significant losses. Since there is a limited supply of a product, traders may be tempted to buy it, even though they may not actually need it. Fortunately, there are ways to deal with FOMO without losing all of your money.

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