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FOMO Turns to OMG for Crypto Traders Who Bought at Peak Prices

“It’s like they’re saying it’s the future and then it crashes. I was like, ‘this is not cool,’” says one investor who recently bought into the hype.

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Just a few months ago, it seemed everyone was embracing crypto: Wall Street banks were building an army of experts and billionaires were finally jumping in. The mood in the market was FOMO.

Now, crypto is in freefall, with the price of Bitcoin falling to a six-month low below the $34,000 mark — a 50% crash from its record high in November. Tokens like Ether and Solana are faring worse, and the mood has turned nightmarish for some retail investors who bought into the hype.