The use of the FOMO expression has seen a rise since bitcoin enthusiasts started to use it.
In this article we are going to explain what does FOMO stands for as it’s widely use in the finance communities but also on social media platforms.
What does FOMO mean?
FOMO is an acronym for “fear of missing something”.
It describes the sense of fear that many people feel when they discover other people having fun, succeeding or doing something in which they want to be involved.
The sense of FOMO can come with the notion that friends, family and co-workers are participating in opportunities that you might have missed.
FOMO (The Fear of Missing Out) is a real phenomenon that is becoming more prevalent and can cause significant stress in your life.
In the world of financial trading and cryptocurrencies, it refers to the fear that traders and investors may feel they are missing out on lucrative investment and trading opportunities.
The history of the FOMO expression
It was not until the 2010s that the acronym became widely used.
Psychologists explain this phenomena by the fact that the use of social media and the Internet increased insecure feelings among young people.
For example, psychologists claim that FOMO drives people to use technology not only to tell others what they are doing, but also how much fun they have.
Starting from social anxiety, it represents the negative feeling you get when you are convinced that you are missing a great experience.
Thus, we could say that social media platforms ( such as Facebook, Instagram, Snapchat, etc…) amplify the FOMO feeling especially for millennials and generation Z.
FOMO: key takeaways
FOMO is characterized by the need to continue to engage in other activities in order to ensure that you do not miss something that is fun, exciting, useful or profitable.
While FOMO can be a serious illness in which sufferers feel useless and unwanted, the term can also be used in a lighter sense to justify attending event or investing in cryptocurrencies.
Now that it’s clearer, I recommend to read our article about the meaning of the HODL expression as its often used with the FOMO one.