@bunkederic05

FOMO, or "Fear of Missing Out," is a psychological phenomenon where traders or investors make impulsive decisions driven by the fear that they will miss out on potential profits if they don't act quickly. In cryptocurrency, FOMO often occurs during rapid price increases, leading to hasty buys without proper research. This can cause traders to enter a market at its peak, risking significant losses when prices inevitably correct. While FOMO can lead to short-term gains if timed right, it often results in poor decision-making driven by emotion, making it important for traders to stick to a strategy and avoid acting on hype or panic.

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