Let’s use Ethereum as an example of how you could FOMO the bag. On September 11th, Ethereum had risen from £1253 to £1460 in a couple days. You might have thought: “blimey, I better get some!” Two days later, when it crashed rapidly, you might have then thought: “blimey, I’d better sell it!” But if you’d sold it for £1315, you’d have lost £145 per ETH.
Then, in late October, you end up repeating the pattern when there’s another price rise. That’s called good old fashioned FOMO, which prompts people to panic buy and sell. This is the most common way people lose money in crypto. The aim is always to buy the dip instead, so that you get more bang for your buck.
