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RE: The Influential Mind Made Me Think #13: On Learning From Experiences And Why Financial Bubbles Are Generated
For bubble mentality in crypto look no further than all the FOMO...
For bubble mentality in crypto look no further than all the FOMO...
Totally right. If I have to theorize about it, I'd say FOMO is product of a mix of the two things I mentioned in this post among others. On one hand, when others are successful when taking risks, and we observe them, our dopaminergic neurons in our siatrum do not fire as strongly. On the other hand, theory of mind comes into play. When you see the market go high, you wonder what do people know that you don't.
Now that you mention it, FOMO would have been a very nice way of joining the two concepts I worked with. Thanks for the comment!