The existence of crypto does not seem to need to be doubted, especially among the younger generation. The reason is, they are already familiar with the use of technology so that the presence of digital-based crypto is not an obstacle. Many people are also turning to invest in crypto because of the very detailed dan hollings coaching https://nicksasaki.com/dan-hollings-the-plan-review/.
The attitude of “going along” to buying an investment instrument existed before the development of social media. However, social media does indeed have a big influence on this attitude. Not only applies to crypto, it turns out that this attitude also applies to other investments. Let’s get acquainted with FOMO syndrome, a syndrome that often appears in the investment world.
What is FOMO?
What is your motivation for investing? Is it because you see and understand the opportunities of these investments? Or is it just simply following the trend?
If you choose the second reason, you may have FOMO syndrome. The acronym for Fear of Missing Out is often associated with the phenomenon of investing, especially in stocks and crypto-assets.
FOMO means fear of missing out on new things. Generally, FOMO sufferers will often feel anxious, afraid, and worried about missing out on new things that are trending and as much as possible following existing trends.
For people with FOMO, failure to follow trends can lead to dissatisfaction with their lives compared to others. Generally, beginners in the investment world are affected by FOMO.
This is because, in general, beginners are easily swayed by trends. Lack of knowledge and lack of experience can cause beginners to easily eat assets that are “fried” in such a way.
The Dangers of FOMO in Investment
Based on the meaning of FOMO, then FOMO is an attitude that must be avoided. This “go-to” attitude can bring many negative impacts, especially when it comes to FOMO in terms of investment. Here are some FOMO hazards!
The price is stuck at the top. Usually, assets that are trending in price will skyrocket. So, don’t get caught up. At a time like this, if you FOMO and buy the asset without analyzing it first, it can be dangerous.
You will find it difficult to sell the asset and are forced to hold it until the price returns to normal. Unfortunately, FOMO assets usually take a long time to return to normal prices. So, your funds will be stuck in that asset.
There is a risk of buying less than a good asset. This is also another danger of FOMO. If you just FOMO and don’t analyze its performance, you are likely to buy assets that are not good.