JOMO or the Joy Of Missing Out is a pleasurable emotional response often experienced by both crypto users and ‘No-Coiner’s’ when seeing losses in an asset they chose to avoid. FOMO on the other hand, is the Fear Of Missing Out. Experienced when users begin to fear being ‘late to the party’ when it comes to cryptocurrency ventures.
View From the Outside
JOMO is often used by individuals who have no investment in cryptocurrency whatsoever. When a crash happens or when a coin is found to be a scam, many outside viewers experience JOMO.
But more broadly JOMO for most cryptocurrency users is merely an experience of relief in the knowledge that their assets are not lost.
More JOMO, Less FOMO
FOMO on the other hand can have considerably more negative effects on the market and can motivate poor decision-making for investors. Watching a crypto coin explode in popularity, possibly being lauded by celebrity endorsement or Youtube ‘investment gurus’ can make an asset appear to be a very attractive addition to one’s portfolio.
This of course will increase the speculative value of the asset itself, creating a feedback loop that encourages investors to invest due to the Fear Of Missing Out. But as stated, cryptocurrency markets can be volatile and subject to sudden and unseen market forces.
Rumors of regulation, Initial Coin Offerings vanishing or the simple popping of market bubbles can and do sometimes lead to erratic changes. Often leaving investors who invested out of fear with significant losses.