Beyond FOMO, several psychological biases fuel bubbles. Herd mentality pushes investors to follow the crowd, assuming others know better. Overconfidence bias makes them believe they can time exits before the crash. Recency bias leads them to expect recent gains to continue indefinitely. Confirmation bias makes them seek only bullish narratives while ignoring risks. Anchoring ties expectations to past high valuations, normalizing inflated prices. Authority bias adds to the frenzy when big names or institutions endorse a stock. Together, these biases create complacency and blind spots, allowing bubbles to grow despite past lessons.