JOMO

November 21, 2023 - Around 2 mins mins to read

Understanding JOMO

JOMO, also known as the Joy of Missing Out, is the complete opposite of FOMO, which stands for the fear of missing out. It is a term frequently used by individuals referred to as “no-coiners” who express their satisfaction in not being involved in cryptocurrencies, particularly during times of price decline or when a fraudulent ICO is exposed.

The value of cryptoassets, especially Bitcoin, is highly volatile. This means that individuals who have chosen not to invest in BTC or other cryptocurrencies are likely to experience a feeling of JOMO when prices drop.

JOMO is closely connected to the concept of traders who are content to abstain from participating in current cryptocurrency trends or engaging in panic selling.

For example, the price of BTC saw a significant decrease from $20,089 in December 2017 to slightly above $3,000 by December 2018, representing an 80% decline.

In such situations, those who did not have any exposure to Bitcoin or sold it before the price decline are likely to have felt some level of JOMO.

Similarly, investors who held onto BTC even after the dramatic price decrease in 2018 are also likely to have experienced JOMO.

Individuals who choose to hold onto their cryptocurrencies instead of selling them are commonly known as hodlers.

The most significant source of JOMO is often felt when ICOs turn out to be fraudulent, further reinforcing the perception that cryptoassets carry inherent risks.

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