Cryptocurrencies
Crypto Newbies Have Family and Friends to Thank for Losses
It can be tough to navigate a relationship when crypto newbies have Family and Friends to thank for losses
Photographer: Maskot/Digital Vision/Getty Images
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The fear of missing out, or FOMO, is a driving force behind some casual crypto investors. Usually, one doesn't develop FOMO out of thin air. There’s typically someone or something behind it. That FOMO can be enhanced by watching friends and family enter the cryptosphere and succeed.
There’s some evidence that personal relationships are key in driving new money into crypto. That’s great for everyone when the investment is doing well, but what happens when the markets shift and they start losing money?