JOMO is the feeling of gratification that comes with making a wise investment decision and skirting potential financial catastrophe. In this article about correcting poor credit, we will explore what precisely JOMO means in relation to cryptocurrency trading – just keep reading to find out more!
JOMO is the acronym for joy from missing out, and describes a crypto trader’s attitude when they decide to ignore the herd. It stands in stark contrast to FOMO (fear of missing out) and helps balance price jumps caused by disproportionate hype and excitement.
When trading cryptocurrency, JOMO stands for ‘Joy of Missing Out’ – that is, not following the crowd and avoiding potential losses. By taking a unique approach to crypto-trading decisions, you can be sure that you’re making informed choices that minimize your risk while maximizing your gains.
During the incredible 2020–2021 Bitcoin bull run, many investors were likely enticed by bullish predictions and bought near the peak in an attempt to see even more growth.
Many industry experts, including JPMorgan Chase and Standard Chartered analysts, forecasted that Bitcoin’s price would exceed the $100K mark by the end of 2021. This belief was further solidified with the accuracy of its widely tracked stock-to-flow model during most of Bitcoin’s bull and bear cycles. Sadly though, following its peak in November at a mere $69K—60% down since then—Bitcoin failed to reach expectations as it fell short from achieving its desired goal of surpassing $100k for 2021.
The visionaries who decided against investing in the rally or sold at that moment were ultimately victorious. What’s more, they had enough capital available to buy back into Bitcoin when there was no FOMO pressure – like in June 2022, which is famously known as Bitcoin’s most modern lowest price point.
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