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“So, this FOMO will have an effect on market movements. Because most of the buyers are trapped to buy it just because they follow the trend or are influenced by the actions of certain figures without doing any analysis,” he explained.

Second, according to Lukman, if the crypto you buy is only based on trends, it can get stuck at the highest price level. As a result, it will most likely be difficult to resell.

“In this situation, it will take time to get back to normal prices. Not infrequently, this FOMO phenomenon actually has a detrimental impact," he added.

The problem, added Lukman Haqeem, is that many parties do not understand this. As a result of this misunderstanding, many people make wrong decisions and experience losses.

“The public should know things like this. That way, it is not wrong to make judgments and decisions amidst the many problems that are involved in illegal investment activities," he said.

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