Fomo is always associated with weak hands who always rush to do everything, fomo leads to high buying and panic selling this have to lead to so many losses. In cryptocurrency, patience is a virtue that safe you from losses and also helps you make profits.
usually beginners who often become victims of FOMO, buy when the price is high because they are deceived by the discussion of many people who predict the type of coin they will buy can increase sharply in the near future
Some of this FOMO just want to ride the waves after seeing the gains continuously rising. They were just too greedy enough for not taking profit before the boat sink. But I agree that most the newbie always head to telegram price discussion channel of a certain coin before they buy it to read comments. Many of the old holders do shill that's why many newbie become victim once they sold there bags.