What Does FOMO Mean in Crypto?

By Julia Cook
Published Oct 14, 2022 and updated Nov 8th, 2022

Fear of Missing Out (FOMO) in the cryptocurrency space refers to the fear of missing an investment opportunity in the space.

Borrowed from everyday slang, ‘Fear of Missing Out’ or FOMO, refers to anything that you are afraid of missing out on, such as leaving a party too early, not going to an event, or missing a business or investment opportunity. With cryptocurrency, it refers to the latter. FOMO is especially strong whenever there is a bull run in the crypto space, or when there is a lot of hype being generated around a specific blockchain project or altcoin.

A lot of FOMO is also generated by scammers, shills or other adversaries, or even just regular crypto enthusiasts who believe that crypto is the future and really know how to sell it. FOMO is a very real problem for many newcomers and even seasoned HODLers, as any investment requires serious research and investment. Additionally, when the price of anything is skyrocketing, is generally the worst time to invest, because the demand is often artificially increased based on hype and the FOMO of others.

Therefore, just like any other investment, it is best to only invest what you can afford to lose, not to get over-confident with gains, and to learn when to sell and when to HOLD. Regardless of the advice that people give you, ultimately this is only really something that you can learn yourself through trial and error. As one Redditor put it, the key is to have, ‘Acceptance that I can’t catch all trains out there [and to have] appreciation of the gains I make with the coins I hold.’