Fear of missing out, or FOMO, is a common emotion that can drive investors to make impulsive decisions. In cryptocurrency investing, FOMO can lead to buying assets experiencing a sudden price surge, even if the investor doesn’t fully understand the underlying technology or the long-term prospects of the asset. This can be a risky strategy, as the price of cryptocurrencies is highly volatile and can fluctuate dramatically in short periods.

Letting go of FOMO can improve your cryptocurrency investing strategy by helping you avoid rash decisions based on short-term price movements. Instead of feeling pressured to buy an asset because it is rising in price, you can take the time to thoroughly research and understand the asset before making a purchase. This can help you make informed investment decisions and avoid losing money on poor investments.

Another way that letting go of FOMO can benefit your cryptocurrency investing strategy is by allowing you to diversify your portfolio. Suppose you are constantly chasing after the next hot cryptocurrency. In that case, you may end up with a portfolio heavily concentrated on a single asset or a few closely related assets. This could be risky, as it exposes you to more significant losses if the value of those assets were to decline. By letting go of FOMO, you can focus on building a diverse portfolio spread across a range of different cryptocurrencies and blockchain projects, which can help mitigate risk and potentially increase your chances of earning a positive return on your investments over the long term.

The two methods above focus on your external world and can help build a balanced investing strategy. However, FOMO exists within and looking where the fear actually is, is the key to becoming a master of your external world. The fear exists not because of something outside of you but something within. When continously clear that fear, new avenues begin to open up to you. You will begin to have insights that weren’t available to you and these insights can be extraordinarily powerful. You will begin to supercharge your investing experience.

How to: Letting go of FOMO

One powerful inner method of letting go of fear is to allow the fearful feeling to be felt consciously. Consciously feeling is staying with a feeling without judging, labelling, or wanting it to change. Any fear which is consciously experienced will eventually run its course. As this feeling is relinquished, any insights about your next move will become available. In other words, your ability to make intuitive decisions will improve, and you will see more clearly the right moment to invest and the right moment to exit. Fear or FOMO is always the block to insight; if this exists, you will be hindered by this emotion. Integrating this emotion is, therefore, key.

When you come across FOMO, instead of acting on it, stay with the fear. Sometimes this can get very intense but set a firm intention that no matter what, you will clear this fear and then make a decision. Allow all sensations and experiences to exist without wanting them to change. Allow yourself to be afraid, without adding to that fear and in doing so, you will gradually free yourself from this prison. A point to note, tenacity and great will are required at this point.

Conclusion

FOMO can be managed by working in the external world such as thoroughly looking at all the technical aspects of an investment and researching it. However, the key to becoming a master is clearing and letting go of any underlying fear. As this feeling is relinquished, your entire investing experience will also change. It will become less stressful, less fearful and altogether a more joyful experience.

Check out my how to: letting go page for more details.
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