What is Fomo coin? Summary of Fomo information you should not ignore

Currently, the Crypto market is increasingly attractive to many investors in the financial sector. What is learning about the Fomo coin ? To be able to help you make the right choices, making the right decisions when participating in the financial markets is essential. So today’s article we will share all information related to Fomo coin to you.

What is Fomo?

FOMO is an abbreviation of the English phrase Fear Of Missing Out. In the most general sense, Fomo syndrome is the fear of losing something interesting. People who are caught up in the Fomo effect are always afraid that they will lose their opportunity. They will be influenced by it leading to making wrong decisions.

The definition of what Fomo is can change, almost every field. Such as in stock investment, Forex and cryptocurrency.

What is the Fomo coin ?

As we know, not only in the stock market but also in the virtual currency market, many traders have been caught in the influence of Fomo. This effect is even more pronounced and more serious than when investing in stocks. Because price fluctuations in cryptocurrencies can be up to several hundred, several thousand percent in a very short time.

Also psychologist Bobby Azarian once shared, “Bitcoin is more and more applied to life, followed by the explosion of the Cryptocurrency market. It is not difficult for traders to realize the galloping increase of a certain virtual currency in just a few hours. On average, there are usually 3-4 price pumps every month, maintaining the heat with the community. After each such pump, the news was spread on social networking sites. From there, there was a wave of buying Bitcoin because they were afraid to lose the opportunity to make big.”

On such an environment full of Fake News will inadvertently make some investors fall into the trap. It doesn’t matter how the price of Bitcoin or other Altcoins rise or fall, but they have helped issuers and investors “whales” rise quickly.

Currently, sophisticated fraudulent organizations also take advantage of the Fomo effect of a part of investors to launch scams. If you are not really alert, you will easily fall into bankruptcy.

Why are investors easily influenced by Fomo coin?

Who can be confident enough to say that they are never affected by Fomo. So why is Fomo coin so easy to dominate investor psychology?

Excessive expectations in the financial investment market

It can be seen that the Fomo effect is formed partly because investors expect too much in the financial market. Many times they think that this stock or coin code will continue to increase strongly for a long time, so buying it now is very difficult to lose. It is also because of this subjectivity that many financial investors lose money.

You need to remember that the financial investment market will go up and down. If you have missed the ideal time to place an order, your plan is ruined.

Fear of missing out

The fear of missing out is the #1 reason most investors fall into the Fomo trap. This effect will make them clouded with reason, no longer able to control themselves. They are always haunted by worries and anxiety, and they will miss the opportunity to succeed if they do not act immediately.

For example, when you see a stock that you are holding suddenly increases in price, you do not choose to sell but continue to buy shares. They fear that if they do not buy, their price will continue to rise. Even when they have made a profit as originally expected, they still have no intention of selling.

Too confident in yourself

Being too self-centered is a necessity, but don’t let yourself become complacent. At that time, it is easier for you to become subjective, to act without and judge according to a particular trend. Therefore, in case the market fluctuates strongly, you will definitely lose your hand in time.

On the contrary, if you go too far on your own, it is not a good thing. Because then you are often easily influenced by the crowd, will not have the courage to execute your initial plan.

Consciousness clouded by greed

“Greed” is the scariest thing, but many investors dominate it. Investing in the “requested by elephants” style easily makes you no longer keep your reason and judgment, but instead your emotions have been completely controlled. The type of when you have placed an order but stopped, thinking that the price will still increase sharply, sometimes costing you dearly.

Hopefully, with the above information, you have understood what is Fomo coin? This is a common psychological syndrome in most people when playing Bitcoin. If you know how to control this syndrome, it will help your life be better and avoid many investment mistakes.