❓️WHAT IS FOMO⁉️(FOR PEOPLE NEW TO THE MARKET)
FOMO stands for Fear Of Missing Out, which means fear of missing out. FOMO represents a feeling of anxiety and insecurity that comes from thinking you might miss out on something important or valuable. FOMO not only refers to material things, but also to other aspects such as experiences, opportunities, social interactions...
⚠️In the context of the crypto market, FOMO refers to the fear of missing out on potential profits from purchasing cryptocurrencies. When suffering from FOMO syndrome, some common signs that investors or traders may have include being overwhelmed and motivated by feelings of anxiety, fear and greed. Leading to hasty decisions to buy or sell coins/tokens without a strategy or thorough research.⚠️
⚠️⚠️Psychology when suffering from FOMO syndrome⚠️⚠️:
1️⃣Worry, obsess and constantly check token prices, opened trading positions, and invested funds.
2️⃣Always feel the need to follow news and trends on social networks and newspapers to look for profit opportunities that they think have potential.
3️⃣Rapidly making decisions to buy or sell just because the token is "hot" or has large price fluctuations without a strategy or research on the risks involved.