FOMO is an acronym for “Fear Of Missing Out” that is used to express the feeling of fear and anxiety of missing out on a potentially profitable opportunity (in the context of cryptocurrency). For example, you might get FOMO when you see a coin that you don’t own, dramatically increasing in value. Traders may rush to buy that coin because they feel anxious on the thoughts of missing out on the next price surge.
Trading in cryptocurrency can also be a game of rumors and emotion, and FOMO can play a key role for traders. FOMO can even be done intentionally by some experts or traders to induce prices to keep increasing or falling.
That is why it is important to be aware of our own FOMO and to trust our own analysis and data.