FOMO is one of the most famous crypto investing and trading terms in existence. During the bear markets there’s FUD, but when the bulls come running, FOMO always make its way back to the center stage.
When Did FOMO Become Popular?
FOMO became famous following the first mainstream bull market that occurred in the fall/winter of 2017. It then reappeared in the crypto lexicon following the pandemic and crypto’s next huge bull run that lasted from middle-2020 to November 2021. The FOMO term and meme refers to traders and investors that suddenly jump into a stock or crypto following its rise, with a fear of missing out on financial gains.
What Is A FOMO Meme?
The FOMO meme did not originate in the crypto world, although the crypto world did propel it to its current standing. FOMO, after all, is a common human experience. Everyone has experienced the fear of missing out on something: a social gathering, a business opportunity, a sporting event, and so on. Here are two meme examples:
This common human experience was the very fertile field that the FOMO meme needed to grow. And when Bitcoin began its extraordinary rally, it provided all the sunshine that the meme required to thrive in the crypto world. Here are some crypto examples:
Many of the FOMO crypto memes focus on the fear of missing out on financial opportunities such as Bitcoin. And this is not surprising. It can perhaps be argued that one of the most pressing anxieties that people face has to do with money, especially never having enough. This naturally makes people vulnerable and impulsive around financial decisions, especially if there is an opportunity to become wealthy. In fact, this very fear is the fear that scammers typically prey upon.
Why Do People Experience A Fear Of Missing Out?
A person’s life is filled with many inadequacies: they do not have enough money; they do not have the career they want; they do not have the family they want – the list could go on endlessly. Furthermore, people are also constantly comparing themselves to other individuals, and in a world of social media, it is easy to find someone who has what you desire. This naturally makes a person susceptible to “fears of missing out.” And in the context of crypto, it is not surprising that people experience FOMO when they understand Bitcoin’s price performance.
Is It Possible To Cure FOMO?
A given person will have specific insecurities or problems. These insecurities or problems are the very things that fuel inner turmoil such as fear, anxiety, stress, and so on. Therefore, it is logical to believe that if these insecurities or problems were dealt with in one form or another, a given person would not be vulnerable to anxiety, stress, or the fear of missing out.
The best way to cure FOMO, especially in the crypto investing context, is to be better prepared for market movements and develop a trading strategy that’s passive, that’s forward-looking, that’s prepared for market volatility, and that’s not “all-in.” Doing these things can prevent you from APEing into a coin that’s rising, and making yourself vulnerable to unexpected .downturns.