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Bitcoin and FOMO
Manage episode 289005928 series 2863641
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Why has Bitcoin and FOMO effect caused the Bitcoin and other cryptocurrency prices to rise by so much? And why does this mean there is a lot of risk in the price?
In this Freedominhours episode we look at FOMO (Fear of Missing Out) and explore how this drives up asset prices. We look at how emotions and fear drive our purchasing behavior and also explore how this can result in mass purchasing of assets and cause asset prices to inflate to ridiculous levels.
We also look at what you can do to stop being led by FOMO and other ways you can learn to invest and take control of your emotions. We believe FOMO should also be called Freedom of Missing Out, as we believe you have the freedom to choose and make good investment decisions.
As more and more people pile into Bitcoin and other crypto the FOMO effect drives more people into the market.
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