FOMO, or the "fear of missing out" is a new acronym but also a powerful phenomenon in human behavior. FOMO can be a powerful motivator for both good and evil. It can drive you to work harder when you think your competition may get all the glory if you don't or it may motivate the youth to take drugs so that they aren't left out of the fun. Many would also say FOMO is a large part of what is driving the crypto market to rise so quickly.
While I love crypto and believe in it in the long run I do think a large part of its massive growth this year is due to FOMO. What does this mean for the future? I think this means that we are somewhat in a "bubble". In my opinion the reason bitcoin is in a bubble is because a large percentage of its investors don't understand it very well and are just trying to make fast money because they felt FOMO. Therefore, I believe if there is a correction in the market that some of these investors may panic and sell off because they are no longer making easy money causing the price to drop further and more panic.
I am not a professional in this area and this is just my opinion. I am interested what you guys think. Please leave your comments :)