What Does JOMO Mean in Crypto?
The expression JOMO is used to describe investors who are happy about not chasing the latest trend. It's used for traders who prefer to use more complex trading tactics, instead of selling/buying crypto coins out of fear, greed or panic.
JOMO vs. FOMO
If you've been involved in the crypto market for any length of time, you’ve definitely heard about FOMO, or the fear of missing out. FOMO has caused many crypto enthusiasts to lose their money with risky trading decisions.
If you look at any coin’s price history, you can be sure that it’s brought out some FOMO in its investors. FOMO is one of the biggest reasons why cryptocurrencies are so volatile.
When Do Investors Feel JOMO?
When an investor feels that they might miss out on a chance to buy or sell crypto coins, they put their long-term plans at risk. When panic buying increases due to FOMO, it usually leads to market corrections, and the prices will drop after a short period.
JOMO describes an investor’s happiness to remain uninvolved in situations that fuel fear and panic in the market — resulting in downward price trends. These investors are confident in their trading skills and strategies, and prefer to use them instead of being driven by FOMO.