What Is JOMO?
JOMO, or the Joy of Missing Out, is the opposite of FOMO (Fear of Missing Out).
It is a term used to describe the feeling of contentment and satisfaction in not being involved in certain activities or trends, particularly in the context of cryptocurrencies.
No-coiners, who have chosen not to invest in cryptocurrencies, often express JOMO when they see cryptocurrency prices declining or when fraudulent initial coin offerings (ICOs) are exposed.
Experiencing JOMO in the Crypto Market
Given the highly volatile nature of cryptoassets, such as Bitcoin, individuals who have avoided investing in them may experience a sense of JOMO when prices plummet.
JOMO can also be associated with traders who are content not to participate in prevailing cryptocurrency trends or engage in panic selling.
Conversely, those holding onto Bitcoin despite the price decline are likely to have felt a sense of JOMO.
These individuals are often called hodlers, as they hold onto their cryptocurrencies rather than sell them.
JOMO can be particularly pronounced when fraudulent ICOs are exposed, reinforcing the perception of risk associated with cryptoassets.