What is FOMO? 😨
FOMO, or Fear of Missing Out, is when investors act on emotions rather than logic, fearing they’ll 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.
🛒 When buying, FOMO can cause someone to buy too late at a high price, hoping it’ll 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 📈
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 😨
