Oh No More FOMO: The Fear of Missing Out in Bitcoin is Hitting These Countries the Hardest
When it comes to cryptocurrency, we're not all on the same page. Since bitcoins' emergence a decade ago, still some aren't convinced yet that indeed, this giant crypto is the next big thing. For instance, this year has seen Bitcoin surging by more than 120% from its $3,200 low to a current $8,500.
What's evident is that various countries across the globe have different bitcoin FOMO. Some countries are leading with the bitcoin FOMO despite the fact bitcoin has received negative sentiments over the past.
How many times have naysayers called the giant crypto dead? Numerous occasions, right? Precisely, it has been over 350 times. On the other hand, several investors like the famous Warren Buffet refer to bitcoin as a ‘delusion.'
Top Five Countries Currently with on the Roof Bitcoin FOMO
Unsurprisingly, some countries have a different perspective on bitcoin. In Brazil, Colombia, Germany, Austria, and Argentina bitcoin is the most popular crypto way by miles from the other cryptocurrencies. According to google searches, bitcoin shows FOMO most in those countries. But why?
Last month Brazil recorded a massive BTC trading of over 100,000 bitcoins just within a day. It won't surprise anyone given the size of the South American country and its massive economy. Another factor is that the country's traditional financial systems together with the governing party, are both low.
Besides, a more significant portion of its population is aged 29 years and below, and it's the younger generation, which is driving the spread of bitcoin vibes.
Colombia ranks second on the google searches thanks to its supportive government on cryptocurrency. Moreover, the Venezuelans in the country have also played a part in the boost of the FOMO.
A plethora of crypto startups, as well as STOs, are emerging rapidly in Germany which has led to several folks in the country buying into FOMO. Besides, they are losing hope with the country's leadership.
The younger generation also is behind the FOMO as most of them have already bought or considering buying bitcoin.
The ANON Blockchain Summit in Vienna might have led to the surge of bitcoin searches. The reason was that giant names such as IBM, Microsoft, and Accenture were considering investing in blockchain.
Another South American country-Argentina takes the fifth spot. Argentina is on the mix of bitcoin FOMO. The country is experiencing rising inflation, which has forced the people to buy Bitcoin as a shield.
Besides, the country is friendly to bitcoin as it's used easily for public transport. Therefore, bitcoin FOMO in the country makes perfect sense.
Nevertheless, as each day passes, it's pointing out to the fact that bitcoin is taking center stage even though it has and will face negative sentiments.