cryptofamily

How FOMO (fear of missing an opportunity) works

Market players make large bets on their underlying assets with high confidence. Every few weeks a new trend (meta) emerges.
The stampede begins.

People who entered/guessed this trend beforehand get euphoric

They start actively talking about their assets, feeling right because their theory has come true. You, the low-confidence participant, begin to doubt.

"Are my assets bad? Are they dead? Do we need to rotate capital?"  You think about it for a few days.
"No, it's already pamped. To hell with it."
A week goes by, players continue to praise their assets, this trend is gaining popularity, goals are getting more ambitious.

You start to believe that this really is a new trend. It stops seeming risky.
You decide to switch to their trend. The trend gradually loses momentum as early entrants become interested in new assets.