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Why is FOMO considered a common behavior in the cryptocurrency market?

avatarTarun ElangoNov 24, 2021 · 3 years ago1 answers

What are the reasons behind the widespread occurrence of FOMO (Fear of Missing Out) in the cryptocurrency market?

Why is FOMO considered a common behavior in the cryptocurrency market?
Cryptocurrency
FOMO
Market Behavior

1 answers

  • avatarNov 24, 2021 · 3 years ago
    FOMO is considered a common behavior in the cryptocurrency market because of the fear of missing out on lucrative investment opportunities. The cryptocurrency market is known for its potential to generate significant returns in a short period. This creates a sense of urgency among investors who fear that if they don't act quickly, they will miss out on the chance to make substantial profits. The fear of missing out on the next big cryptocurrency or the next bull run drives individuals to invest hastily, often without proper due diligence or risk assessment. FOMO can lead to irrational investment decisions and contribute to market volatility.

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