FOMO is Fear Of Missing Out. It refers to the feeling that everyone else is getting something and you are missing it.

Fomo creates a need to take action to join in. Fomo has always been part of life but the immediacy of social media and the strong snowballing effect on anything shared has accentuated its effects.

Fashion has always been affected by Fomo but it’s a much slower effect that sharing of ideas online. The strength of online Fomo is because of the geometric effects of its growth, hence the phrase “going viral”.

Once you link the speed of online trading of crypto currencies with Fomo you get fascinating results, where a single news item can create a movement in a coin’s value which then escalates because of Fomo.

When you add 24 hr trading to the mix you add huge volatility to the price. It gets exaggerated because the professional traders has automatic trading setup to take advantage of price changes far faster than a human can.

So there are lots of people getting richer just by hooking into the power of Fomo.

I’m now looking for the best way to use AI with a trading bot. When I find it I will start it off and watch it earn my living for me.