FOMO is an abbreviation for Fear of Missing out and is a feeling of anxiety or insecurity over the possibility of missing out on something, as an event or an opportunity. Fear of missing out often affects the cryptocurrency market when investors start to become concerned that they are going to miss out on a buying opportunity that could lead to enormous, triple or quadruple digit gains. FOMO can still sometimes apply to other markets, not just cryptocurrencies, but it does seem to affect cryptos much more than others.