Joy Of Missing Out (JOMO)
What is JOMO in Crypto?
JOMO is an acronym that stands for the “joy of missing out” and is the opposite of FOMO (Fear of missing out). It is a term that is often used in the context of cryptocurrency to describe the feeling of contentment and satisfaction that one experiences when they are not participating in the frenzied buying and selling activity that is often associated with the cryptocurrency market.
JOMO is relatively common due to the crypto market’s volatility, which can often lead to sharp price movements. The value of cryptocurrencies can fluctuate dramatically over short periods of time, and there is often a great deal of hype and speculation surrounding various coins and projects. This can create a sense of FOMO among investors, who may feel pressure to buy into a particular coin or project in order to avoid missing out on potential gains.
On the other hand, investors who don’t invest in cryptocurrencies at all (often called “no-coiners”) experience JOMO whenever they see the crypto market fluctuate.
What Can Cause JOMO in Crypto?
The crypto market is often vulnerable to panic buying, especially with new coins or hyped projects. Over time, these spikes in interest lead to a market correction and dramatic price drops, such as when BTC dropped from $69,000 to $16,000 in the past year. JOMO is the feeling of validation that users experience when they ignore the hype, and the subsequent fall, of a crypto trend.
Investors that experience JOMO usually maintain a level head and make investment decisions based on their own research and analysis.