I just realized that many people are suffering from a common psychological issue in crypto, which is FOMO — or Fear of Missing Out. When first entering the market, everyone experiences this feeling, especially when they see others talking about coins skyrocketing in value.

The tricky part is understanding what FOMO in crypto really is and why it has such a huge impact on our buying and selling decisions. When experiencing FOMO, investors often fall into greed, envy of others’ success, or frustration after losses. At that moment, you lose the ability to evaluate the market calmly, leading to mistakes that you might regret later.

The signs of FOMO are quite clear. People affected by it tend to be very impatient, wanting to trade immediately when they have an idea. They usually have no plan in place, just follow information from chat groups, and rush in with the crowd. Especially, they treat each opportunity as unique, thinking that if they don’t jump in right away, they will miss out forever. I’ve seen this happen most often during strong uptrends or downtrends.

What is the origin of FOMO in crypto? Mainly, it’s due to lack of knowledge. When the market is rising, new investors see easy profits and jump in without understanding much, and when the market drops, they panic. Additionally, information from social media groups isn’t always accurate — some sources even come from scam communities. Herd mentality is also a big factor — when everyone is buying, they buy; when everyone is selling, they sell — without considering the actual market situation. Lastly, a lack of strategy, chasing quick profits, and impatience with their own decisions also play a role.

To escape this trap, the first step is to learn market knowledge. You need to filter information carefully, prioritize official sources from projects, and avoid spreading rumors. When you have a trading idea, don’t rush; analyze which phase the market is in. Most importantly, have a specific strategy before entering a trade — clearly define StopLoss, TakeProfit, entry points, and capital allocation. Managing emotions is also crucial — practice patience and stick to your initial decisions. I also recommend limiting how often you check prices, because the more you look, the more likely you are to be emotionally influenced by market fluctuations.

Remember, you can listen to others’ opinions to broaden your perspective, but never let others’ decisions control you. What’s good for the crowd might be harmful to you. Stay calm, especially in the crypto market, to protect yourself and your capital.