The opposite state of JOMO stands for “Joy of Missing Out.”
What Is JOMO?
Joy of missing out (JOMO) is the opposite of having a fear of missing out (FOMO.)
The price of cryptoassets — particularly Bitcoin — is highly volatile. This means that investors who have steered away from investing in BTC and other cryptocurrencies are likely to feel a sense of JOMO when prices fall.
JOMO relates to the concept of a trader who is happy to not be participating in a current cryptocurrency trend or engage in panic selling.
For example, the price of BTC plummeted from $20,089 in December 2017 to just above $3,000 by December 2018… a decline of 80%.
In this case, those who did not have exposure to Bitcoin — or sold it before the price fell — are likely to have experienced some degree of JOMO.
Similarly, those investors who held on to BTC after 2018’s dramatic price decline are also likely to have felt JOMO.
Those who hold cryptocurrencies rather than sell it are known as hodlers.
The biggest source of JOMO is likely to be felt when ICOs turn out to be fake, reinforcing the view that cryptoassets are risky.