fomo

Crystal clear example of fomo is the people who invest on cryptocurrencies at the beginning 2018. During 2017, most of cryptocurrencies' values exploit and was increased 4-5 even 10 times. By the end of 2017, bitcoin was around 20.000 usd and the hype of investing in cryptocurrencies spread far and wide quickly. Forecasts said that was just tip of the iceberg and people call them "crypto currency gurus" told cryptocurrencies were at the bottom of the ladder and that was the exact moment where FOMO reached the top.
Millions of individual has joined to online platforms and created themselves cryptocurrency wallets. Then they immediately invested on coins on high prices (which they thought there was huge opportunity conisdering short term future value). Some people get loan from bank for that. Some of them even sold their properties (like their cars, and houses) and invest in coins. Basically , they though that there was an easy way to become a millioner and they dont want to be the one that miss this opportunity.

Result; so far in 8 months, cryptocurrency market fall by %75 on average.