FOMO stands for fear of missing out. This is commonly attributed to the anxiety being felt after seeing “hypes” or exciting posts which mostly come from social media.
Because of the great influence social media is bringing at the present time, having the fear of missing out could greatly dictate the behavior of psychologically-driven markets such as stocks and cryptocurrencies.
Good news can make the bull run while bad news can make the bear angry in just a short period of time due to people topping up or pulling off their investments suddenly after being driven by FOMO.
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