I am not perfect nor an expert but a thinker whose views is subjected to reviews and welcomes every single opinion with zero bias as the reality behind every boom in any crypto product must be addressed properly. FOMO as sound is not a new acronym in the crypto world and has always sounded strange in the hearings of every newbie like other acronyms. Do you even know what the acronym means? Well, I will address that as follows;
F- Fear
O- Of
M- Missing
O- Out
I bet you now understand what FOMO means? Good; follow me as I walk you through its impact on the success of booming projects.
Brief History of the Term FOMO:
Fear of missing out is the inner feeling of apprehension that one is missing out on information, or missing an opportunity to make positive decisions on projects or life events. This can be a financial decision or Investment. The term was first coined in 1996 by marketing strategist Dr. Dan Herman, in academic research conducted for Adam Bellouch.
FOMO Impact on Crypto Projects:
Behind the success of any crypto project, there is news that backed it up. This news creates fears in the heart of investors as early adopters see an opportunity for investment so the laggards. This fear of missing out has led to the birth of pump and dump projects where early adopters create news around a project and dump on the laggards. In this case, the fear of missing out tends to raise the price of cryptocurrencies.
Every single party involved in a certain project fear missing out, if not why invest? This fear now varies from individual. This has led to the development of other technological means of taking profits using the power of Artificial Intelligence (AI) robots.
Can you Control FOMO?
In investment, you can’t buy the whole market but a whopping opportunity can be explored from the market. Hence, there will always be opportunities for you to leverage. Before I submit, so far you can control your emotion by properly rediscovering yourself towards trying new things hence, FOMO can be moderated.