Business Activity || What is FOMO and how can one overcome it? || @divinemercy || 10% Payout To @businessactivity
Because of its volatility, cryptocurrency is associated with emotion, and the methods in which people manage price fluctuations varies, which is where FOMO (fear of missing out) comes into play. Investors usually want to take advantage of the market chart trend, whether it is upward or downward, and perceive it as a time to buy or sell since they don't want to lose out on such opportunities.
The acronym FOMO stands for "fear of missing out." This is the intuition when you see a large green area developing on a graph and you don't have any money, so you panic and push the sell button to purchase towards it.
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FOMO refers to a feeling of impatience or the belief that other people are sharing a beneficial or unique experience. And one alternates between missing out and not missing out throughout time.
Because crypto currency is volatile, rather than the price, it involves feelings, which poses a significant risk to investors, and fear of missing out (FOMO) is a significant factor to consider, particularly when trading in crypto currency, as it is one of the most important decisions an investor must make.
Fear of losing out is generally triggered or exacerbated by the volatile nature of crypto currency. Because it deals with emotion, the experience may lead independent investors to base their investing decisions only on their feelings rather than their senses and abstract reasoning. This type of event can cause a large spark in the resources, increasing the risk of financial ruin.
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Overcoming fear of missing out is not an easy task, but it is essential to do comprehensive personal study into cryptocurrencies before making any investment decisions, and it is preferable to make some type of trading guidelines, or put limits on the allowable depletions and payback.
The world of computer-generated money is susceptible to change. The reason for this is that the price of the crypto currency fluctuates unnaturally upward and downward, or the crypto currency is sold off. While prices fall, individuals who are afraid of losing out on the rise frequently deplete their accounts, which is why it is important for us to set our emotions aside when dealing with crypto trading since fear might induce us to engage in risky trading.
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It's a pity that this interesting topic is a bit short. A few practical hints would have been desirable.