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In the cryptocurrency space, many investors face intense emotions that influence their decisions. One of the most powerful is FOMO, an acronym for Fear of Missing Out. This psychological phenomenon can have a significant impact on your investments, often in a negative way. Here’s a guide to understanding what FOMO is, its consequences, and how to manage it.
What is FOMO?
FOMO is the irrational fear of missing out on a financial or social opportunity. In crypto, it often manifests itself when an asset experiences a rapid and dramatic rise. Investors, seeing others making significant gains, feel intense pressure to enter the market, even if it means taking reckless risks.