What is JOMO in Crypto?
The joy of missing out (JOMO) is the opposite of the fear of missing out (FOMO). It is frequently used by no-coiners to express their joy at not being involved in cryptocurrencies, usually, when prices are falling or a scam ICO is exposed.
The value of crypto assets, notably Bitcoin, is extremely volatile. This indicates that investors who have avoided investing in Bitcoin and other cryptocurrencies are likely to experience JOMO when prices fall.
JOMO refers to a trader who is content not to participate in a current bitcoin trend or to engage in panic selling.
BTC, for example, fell from $20,089 in December 2017 to slightly over $3,000 in December 2018… an 80% decrease
Those who did not have exposure to Bitcoin — or who sold it before the price collapsed — are likely to have suffered some degree of JOMO in this scenario.
JOMO vs. FOMO
If you’ve been following the cryptocurrency market for any length of time, you’ve undoubtedly heard of FOMO, popularly known as the fear of missing out. FOMO has caused many cryptocurrency fans to lose money through reckless trading decisions.
If you look at the price history of any coin, you can be sure that it has caused some FOMO in its investors. One of the primary reasons cryptocurrencies are so volatile is FOMO.
When Do Investors Feel JOMO?
When an investor fears missing out on an opportunity to buy or sell crypto coins, they jeopardize their long-term intentions. When panic buying grows due to FOMO, market corrections occur, and prices fall after a short period of time.
JOMO refers to an investor’s desire to remain uninvolved in events that drive market fear and panic, resulting in downward price movements. These investors are confident in their trading abilities and tactics, and they prefer to employ them rather than being driven by FOMO.
