FOMO is one thing every crypto investor would have experienced that could even creep in just a couple hours after getting into crypto. It's an acronym for the phrase "Fear Of Missing Out" which is state of mind where an investor feels overwhelmed about a pump in price of a token/coin and then tend to drop everything they've learnt, heard or known and invest in a project simply because of its skyrocketing price and because they're scared they may miss an opportunity of a life time.
I remember the first time I FOMOed into investing in a token where I learnt the core lessons of not buying at the peak and not buying because the price keeps going up. To be honest, the urge to FOMO isn't something that happens just once and you learn not to do it again, it happens almost throughout the journey of being a crypto investor but the best thing we can do is to avoid it.
Nevertheless, it has paid off in some cases and we all sometimes wished we actually FOMOed, but the reality is FOMO could ruin us pretty quick if that's our investment strategy as it is considered to be one of the riskiest and most illogical moves when trading the crypto market that is already full of uncertainties.
From my experience, the urge to FOMO could stay for a couple hours when a token just pumps quickly and it could last longer especially in cases where a crypto's price keeps going up for weeks. One key thing to learn here is that in the crypto market, for every massive pump in price, there's mostly likely a massive coming soon and buying at the top isn't a very good strategy even if it pays off sometime (very rare).
So how can we avoid FOMO?
The best time to invest in a crypto is when they're pretty stable (when they're not skyrocking or not revovering from any massive sales). It's not very easy to not feel the need for FOMO since we're humans and are somehow bounded to trying to make gains, but the best way of avoiding it is to accept the fact that the coin/ token was up already and then wait to buy low.
This is one of those things we tend to learn by experience and it turns out most people have found FOMO to be so destructive and detrimental.
