SQUID plunges from $2,860 to $0, Trader Loses His Life Savings in the Investment

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“In this trading space, everyone will rush,” said Bernard, “and sometimes you feel FOMO.”

The FOMO (fear-of-missing-out) effect is a major influencer of traders’ decisions. Many new investors feel the urge to bet on cryptocurrencies just because they are making a buzz. This was the case for Bernard among other traders who made heavy investments in SQUID and other shady cryptocurrencies.