Definition of FOMO
Fear Of Missing Out. The urge to buy even when the price of an asset has already skyrocketed. FOMO in crypto, describes the anxiety of missing out on an investment opportunity. This emotion is being amplified if an acquaintance or someone in your community has taken the risk to invest and are now reaping the benefits while you are missing the rewards. It is a form of ‘’keeping up with the joneses’’.
FOMO used in a sentence
‘’Even though I needed some spare cash to pay for my rent, I bought some XRP because of FOMO.’’
‘’I am FOMO’ing into this project, the price has gone up 160% already, but I still think it has more upside potential.’’
‘’He bought the top due to FOMO and now the price has crashed significantly. Emotions are a bad tool for investment decisions!’’
History of glossary term
We have a good notion of where the term FOMO originates from. A student called Patrick McGinnis appears to have coined the term in a 2004 edition of Harvard Business School’s student newspaper, The Harbus.
Later the term has found its way into the mainstream media, financial media and of course Crypto Twitter!