FOMO
FOMO stands for Fear Of Missing Out and we commonly use it in our day to day lives when you get that feeling you want to jump in to something because you don’t want to miss out on a perceived opportunity.
The same thing applies to Bitcoin and can lead to impulsive reactions where you see the price of Bitcoin rising substantially and decide to buy in a frenzy.
FOMO purchasing is pure emotion and doesn’t follow any strategy. It often results in people getting burned as the price drops soon after the peak emotion stage of a bull run.
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