Cryptodictionary: FOMO

FOMO or a Fear Of Missing Out is a type of anxiety, common for the cryptocurrency community, where events can unfold very quickly and with unpredictable outcomes. It is closely connected with cryptocurrency success stories, where people become millionaires in a matter of weeks or months, having only very limited funds at the start. It is the fear of never making it to the right place at the right time and being always left outside exciting events that can bring one success or make one rich.

Cryptocurrency market today is so complex and volatile, that picking a project or a coin that will shoot to the moon at the very start is usually a matter of sheer luck. But for regular traders, the situation where some big success happens without them taking part or being late to the party is just something too familiar. Even if you do manage to jump on the bandwagon, there’s still that nagging thought that you could have done it earlier, when it was more profitable to do so.