[source](via https://www.investopedia.com/crypto-adoption-flatlined-as-fomo-turned-into-buyer-s-remorse-in-2022-7971317)
It’s back! Crypto FOMO is in full swing when I have coworkers asking how to get into the space. The Fear of Missing Out (FOMO) in cryptocurrency, manifests in a real anxiety or apprehension in people when they see others profiting from a particular crypto investment or trend.
I’ve had several crypto related conversations with people who made accounts this morning. I have to explain that this fear often drives individuals to make impulsive and emotional decisions to join the perceived opportunity, sometimes without thorough research. I’m stressing to not invest more than you are willing to loose.
I’m usually not willing to give actual financial advice but I will share my experiences of loss and stress related to trading. This space can take a real toll on an individual so proceed with caution. I won’t shy people away from the space I only like to give word of caution because I’ve seen so many, loose too much. Crypto is the future so learning and investing is fundamental, but to do it smartly and safely.
I don’t have to preach here about the risks of crypto or the even bigger risk of FOMO. I think we owe it to the new comers to at least provide some word of caution because we need adoption not just boom and bust.