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FOMO (Fear Of Missing Out)

FOMO is a term that is often used in trading markets, including cryptocurrency markets, to describe the fear traders have of missing a potentially profitable trading opportunity. While it's not a term with direct accounting implications, FOMO can lead to trading behaviors that need to be tracked for tax purposes.

Example:

Buying into a rapid price increase of a cryptocurrency because of the fear of missing out on potential profits

Category:

Trading and Markets
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