FOMO, or “fear of missing out,” can be a problem in NFT trading because it can lead to impulsive and irrational buying decisions. When investors feel like they are missing out on potential profits, they may be more likely to make hasty purchases without fully researching or understanding the value of the NFT they are buying. This can lead to overvaluation and bubbles in the NFT market, as well as financial losses for those who bought in at the wrong time. Additionally, FOMO can also drive individuals to invest more than they can afford, making them more vulnerable to financial losses.
Beginner Guide to Trading and Markets – Why FOMO is such a problem in the NFT space
