What is JOMO?
Let's find out JOMO meaning, definition in crypto, what is JOMO, and all other detailed facts.
To specify, JOMO refers to a trader who is content not to participate in a current cryptocurrency trend or panic selling.
Everyone is aware by now that Bitcoin and other crypto-assets are highly volatile. This indicates that investors who have avoided purchasing in Bitcoin and other cryptocurrencies are prone to having JOMO when prices decline.
It is usually utilized by no-coiners who don’t avoid emphasizing their happiness of not being involved in cryptocurrencies, especially when there is an ICO scam that was revealed, or when the prices are dropping down in general. However, the greatest cause of JOMO is likely to be experienced when ICOs are shown to be fraudulent, confirming the perception that cryptocurrencies are unstable.
In addition, holders are the investors who hold their cryptocurrencies instead of selling them, even though they are losing profit.
BTC price, for instance, fell from $20,089 in December 2017 to slightly over $3,000 in December 2018, referring to a reduction of 80%. Many who did not have a connection to Bitcoin, or those who sold it before the price collapsed, are likely to have experienced any level of JOMO in this scenario.
Likewise, investors hung on to BTC following its rapid price collapse in 2018 and might have gone through JOMO.
All in all, JOMO refers to a trader who is content not to participate in a current cryptocurrency surge or in the act of selling to earn a profit and avoid loss.