🔥What is FOMO let's explain🔥
Example:
Let's say you're browsing social media and see that a new coin called "MoonCoin" has gone up 300% in the last 24 hours. Everyone is talking about how it's going "to the moon," and some people claim they’ve already made thousands of dollars.
Even though you haven’t researched the coin, you feel a strong urge to buy it right away because you don’t want to miss out on the profits others are making. That’s FOMO.
So you buy MoonCoin at a high price.
But right after you buy, the hype dies down, and many early investors sell for profit, causing the price to crash. Now your investment is worth much less than what you paid.
Moral: FOMO made you act emotionally instead of rationally, leading to a bad investment.
That’s why in crypto, it’s important to research first and not chase trends blindly.
