{"id":563434,"date":"2023-03-14T11:27:16","date_gmt":"2023-03-14T08:27:16","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/what-is-jomo-in-crypto-trading\/"},"modified":"2023-03-14T11:27:16","modified_gmt":"2023-03-14T08:27:16","slug":"what-is-jomo-in-crypto-trading","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/what-is-jomo-in-crypto-trading\/","title":{"rendered":"# What is JOMO in crypto trading?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2f0f807c237\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2f0f807c237\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-jomo-in-crypto-trading\/#%E2%80%9D_What_is_JOMO_in_crypto_trading_%E2%80%9C\" >&#8221; What is JOMO in crypto trading? &#8220;<\/a><ul class='ez-toc-list-level-2' ><li class='ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-jomo-in-crypto-trading\/#What_is_JOMO_in_crypto_trading\" >What is JOMO in crypto trading?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-jomo-in-crypto-trading\/#JOMO_after_Bitcoin_price_peak\" >JOMO after Bitcoin price peak<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/what-is-jomo-in-crypto-trading\/#Turning_FOMO_into_JOMO\" >Turning FOMO into JOMO<\/a><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_What_is_JOMO_in_crypto_trading_%E2%80%9C\"><\/span>&#8221; What is JOMO in crypto trading? &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<div class=\"post-content\" data-v-48054ca8>JOMO stands for the joy of missing out \u2014 particularly when a cryptocurrency trader refuses to follow the crowd. This is the opposite of\u00a0FOMO, or fear of missing out,\u00a0and it&#8217;s the counterbalance to price rallies driven by hype and frenzy.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"What_is_JOMO_in_crypto_trading\"><\/span>What is JOMO in crypto trading?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In crypto trading, JOMO stems from not following the herd, which is often wrong, and ultimately avoiding a potentially big loss.<\/p>\n<p>For example, the recurring bullish calls in the Bitcoin market during the 2020-2021 bull run likely prompted many people to buy at the top in expectation of more upside.\u00a0<\/p>\n<p>Many market commentators, including analysts at Standard Chartered and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2021\/01\/05\/jpmorgan-bitcoin-price-could-rise-to-146k-as-it-competes-with-gold.html\">JPMorgan &amp; Chase<\/a>, predicted in 2021 that BTC price would reach $100,000 by the end of the year. The widely-tracked Stock-to-Flow (S2F) model\u00a0further boosted the bullish argument, given its accuracy through most of Bitcoin&#8217;s bull and bear cycles.<\/p>\n<p>However, Bitcoin price\u00a0fell short of its popular $100,000 target after peaking out in November 2021 at $69,000, and is currently down 60% since.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2023-03\/51dbfa58-97b2-454b-b84e-1f3e4b2c5de5.png\"><figcaption style=\"text-align: center;\"><em>BTC\/USD weekly price chart. Source: TradingView<\/em><\/figcaption><\/figure>\n<p>Thus, the JOMO traders who either sold or didn&#8217;t buy into the rally at the time came out on top. Moreover, they also retained the capital to get in at lower levels when FOMO is nonexistent, such as in June 2022\u00a0that marked Bitcoin&#8217;s latest price bottom.\u00a0<\/p>\n<h2><span class=\"ez-toc-section\" id=\"JOMO_after_Bitcoin_price_peak\"><\/span>JOMO after Bitcoin price peak<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>One of the few JOMO traders who didn&#8217;t buy into the overly-optimistic Bitcoin predictions in late 2021 was market watcher Michael Gogol. He reduced his crypto exposure a month before Bitcoin&#8217;s peak, expressing\u00a0his relief in May 2022.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Called the top in 2021 and 2022. <br \/>Not bad not bad. I\u2019m proud. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/ZZe5E445Sz\">pic.twitter.com\/ZZe5E445Sz<\/a><\/p>\n<p>\u2014 Michael Gogel (@mgogel) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/mgogel\/status\/1521323713668464640?ref_src=twsrc%5Etfw\">May 3, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>On the other hand, one trader <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.reddit.com\/r\/Bitcoin\/comments\/rqeo9s\/bought_at_69k_and_feel_bad\/\">confessed<\/a>\u00a0that he had bought Bitcoin at $60,000 in October 2021 after getting convinced by the market&#8217;s anti-inflation narrative. He said:<\/p>\n<blockquote><p>&#8220;The whole inflation thing finally clicked. I panicked and entered almost at ATH of 69k. Feels bad. Went down the rabbit hole, hours of research.&#8221;<\/p><\/blockquote>\n<h2><span class=\"ez-toc-section\" id=\"Turning_FOMO_into_JOMO\"><\/span>Turning FOMO into JOMO<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>FOMO originates from the objective of making money quickly. Many gullible traders believe they can double or <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/trip-and-travel\/\" data-internallinksmanager029f6b8e52c=\"10\" title=\"Trip &amp; Travel\" target=\"_blank\" rel=\"noopener\">trip<\/a>le their investments within the matter of days, weeks, or months by investing cryptocurrencies.\u00a0<\/p>\n<p>Usually, traders with FOMO syndrome may open or close their trades multiple times a day without putting considerable thought or strategy behind them. These high-risk trades also impact traders mentally, even leading to stress and sleep deprivation.<\/p>\n<p>Here are four steps that a trader can take to turn FOMO into JOMO:<\/p>\n<ol>\n<li><strong>Develop a trading plan.<\/strong><\/li>\n<li><strong>Keep a trading journal to monitor your trading patterns.\u00a0<\/strong><\/li>\n<li><strong>Analyze potential trades using<\/strong><strong>\u00a0multiple metrics, including fundamental and technical analysis.<\/strong><\/li>\n<li><strong>Ignore emotions, follow your plan and adjust accordingly.\u00a0<\/strong><\/li>\n<\/ol>\n<p class=\"post-content__disclaimer\">This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/what-is-jomo-in-crypto-trading\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; What is JOMO in crypto trading? &#8220; JOMO stands for the joy of missing out \u2014 particularly when a cryptocurrency trader refuses to follow the crowd. This is the opposite of\u00a0FOMO, or fear of missing out,\u00a0and it&#8217;s the counterbalance to price rallies driven by hype and frenzy. What is JOMO in crypto trading? In&#8230;<\/p>\n","protected":false},"author":1,"featured_media":563435,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/cdn-cgi\/image\/format=auto,onerror=redirect,quality=90,width=1200\/https:\/\/s3.cointelegraph.com\/uploads\/2023-02\/c9e28465-e02f-4d6b-bd06-424c8a3a5d1f.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75166,74862,74937,74863,81262,135234,127241,110520,118812,74939,73785],"class_list":["post-563434","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-binance-coin","tag-bitcoin","tag-bitcoin-price","tag-cryptocurrencies","tag-cryptomarket","tag-ftx","tag-ftx-token","tag-how-to-crypto","tag-how-to-start-investing","tag-market-analysis","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563434","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=563434"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/563434\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/563435"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=563434"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=563434"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=563434"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}