What is FOMO? đš
FOMO, or Fear of Missing Out, is when investors act on emotions rather than logic, fearing theyâll miss a big opportunity
Take a look at the screenshot, this trader just recently sold 21 million MOODENG tokens for $297. Today that would be the equivalent of $6.3 million.
In hindsight, many analyze this trade feeling FOMO for this trader, everything seems obvious when you already know what will happen, but this is outcome bias.
đ When buying, FOMO can cause someone to buy too late at a high price, hoping itâll go even higher, only to see it drop soon after.
When selling, FOMO can make someone bullish hesitate, hoping for a lower entry price, but then the price keeps going up, and they miss the chance đ
FOMO often leads to poor decisions and can be costly. Staying calm and following a plan is key to avoiding it.
Remember, that fear is the mind killer, no matter if it's fear of losing money or fear of not making more than you could đš
