FOMO IS REAL

[1Referee]

this thing is going to the moon shortly, i'm holding until 2k at least, probably selling there something and buy cheap with the dump, everything that increase so fast will be dumped this is the general rule, it's unbelievable that it's raising so fast why altcoin are still in bubble and raising too this is unprecedent, never a bubble like this happened before really good stuff ahead of us

Actually there was such a bubble back in 2013 where altcoins got pumped to the moon as well.

Litecoin's all time high - $53
Novacoin's all time high - $27
Namecoin's all time high - $13.50
Peercoin's all time high - $7.20

It was insane how the prices have been going up back then, and insane how altcoins right now are going up. Currently, the 2.0 altcoins are experiencing the pump of their life. Especially Ethereum. This token's market cap is touching the $8 billion mark - insane! I feel sorry for people entering the market at such prices. They'll be eaten alive!

[Silberman]

For all the posts about "why is this price going up" this is probably the best response.

Plus...fear of missing out explains my usual response, which has been "there's more buyers than sellers."

Perhaps the real question for people discuss here is: how many people do you know that have now (finally) decided to buys some Bitcoin?

Because this has to be more than just existing Bitcoin users buying more (although I realize the math goes against that statement).

Despite all the craze about bitcoin I have not meet a single person that is talking about it in my circle of friends and acquittances, no one seems to know about bitcoin despite the fact I talked to them about it, and there does not seem to be anything on the news about bitcoin, so I suppose this may be the same people putting even more money into bitcoin.

[Wind_FURY]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

[aso118]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

[Iranus]

Plus...fear of missing out explains my usual response, which has been "there's more buyers than sellers."

There's never more buyers than sellers, there's always an equal amount.  To buy Bitcoin you have to have bought it from someone.  What you really mean is that people are willing to buy it for more.

Perhaps the real question for people discuss here is: how many people do you know that have now (finally) decided to buys some Bitcoin?

None.

Bitcoin is a tiny, tiny market.  A few hundred million dollars (I know it sounds like a lot, but in market terms it's not) would shove the price up thousands.  Relative to the population at large, nearly no one owns Bitcoin and for now that's how it will continue to be.

[Golftech]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

i agree mate if this things is just because of fomo for sure the price drop will be expected quickly after whale already got what they expected outcome but seeing the price still rising for sure there's some news or big investors who already involved with this industry and we will expect more rise in coming days.

[joshy23]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

Exactly. Looks to me this is a new territory for bitcoin ecosystem. A lot of buying going on a lot of exchanges around the world. Specially in Japan where the trading volume is up to almost 50% now, followed by US and Canada. What I'm afraid of is that the volume trading in Japan is covering half of the volumes. It looks like what happened when China dominated the market then a big crash happened that push the price to sub 900$.

[Wind_FURY]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

But in Bitcoin I doubt it is only about FOMO. The volumes that the victims of FOMO usually give are small and not enough to bring the Bitcoin market upwards, unless there is a son of a billionaire trying trading for the first time.

The more sophisticated traders and investors are less affected by FOMO because they are already aware of it and they already have enough experience in the market.

[Nagadota]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

But in Bitcoin I doubt it is only about FOMO. The volumes that the victims of FOMO usually give are small and not enough to bring the Bitcoin market upwards, unless there is a son of a billionaire trying trading for the first time.

The more sophisticated traders and investors are less affected by FOMO because they are already aware of it and they already have enough experience in the market.

FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

[Przemax]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

[Grillo]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

I am no selling shit.

HOLD!!

[Denker]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

I am no selling shit.

HOLD!!

I wouldn't sell too. Real FOMO is still far away. Right now wemay see some correctiona and consolidation which isn't bad. At the weekends it's mostly pretty quiet.
Furthermore you can think about selling when you see the next spike in google trends. At least I use this as an indicator and always have an eye on.

[alyssa85]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

I am no selling shit.

HOLD!!

I wouldn't sell too. Real FOMO is still far away. Right now wemay see some correctiona and consolidation which isn't bad. At the weekends it's mostly pretty quiet.
Furthermore you can think about selling when you see the next spike in google trends. At least I use this as an indicator and always have an eye on.

That's an interesting graph. I don't think the general public is at all interested in bitcoin. But lots of Wall Street types trade it on the side using their own money. It's the only thing you can trade 24/7.

[BitcoinHodler]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

I am no selling shit.

HOLD!!

I wouldn't sell too. Real FOMO is still far away. Right now wemay see some correctiona and consolidation which isn't bad. At the weekends it's mostly pretty quiet.
Furthermore you can think about selling when you see the next spike in google trends. At least I use this as an indicator and always have an eye on.

the bitcoinHodler in me tells everyone to HODL,
but at the same time when you are expecting a correction, that is a good idea to sell before it happens and then buy back again.
although if you want my opinion i'd say the correction happened already when we came down from $1600+ and stablized on $1500 range.
now any more correction has a less chance of happening. at least for the following week.

this is the price rise effect + Japan and other countries adopting bitcoin effect.

[Wind_FURY]

I agree FOMO is real.  This is the reason why bitcoin price is quickly rising.  They are afraid to be left behind and miss the profit when bitcoin price reach its peak. 

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

But in Bitcoin I doubt it is only about FOMO. The volumes that the victims of FOMO usually give are small and not enough to bring the Bitcoin market upwards, unless there is a son of a billionaire trying trading for the first time.

The more sophisticated traders and investors are less affected by FOMO because they are already aware of it and they already have enough experience in the market.

FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

Do you know what FOMO stands for? It means the Fear Of Missing Out. How is that not a desperate or an on the whim kind of thing? The reason why the believers of FOMO think it is there is because FOMO exploits the less experienced traders behavior.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

Maybe that would be the case. But it might also happen like MtGox.

[Silberman]

FOMO had stopped, for now. People were afraid that bitfinex users were going to buy all the bitcoins because they were so hungry for the bitcoins. Pun intended.

Now there will be a testing of the nerves with the double top that just had brewed. Thighten your seat belts boys. Holders gonna hodl, panicers going to panic and people buying low going to buy low.

We don't know when we'll next see a bear market, and by the time we do it'll probably happen when the price has reached much, much higher and this current price seems low.

I do not see the bear market in the near future but I hope to see some option of relativly cheap coins.

I am no selling shit.

HOLD!!

I wouldn't sell too. Real FOMO is still far away. Right now wemay see some correctiona and consolidation which isn't bad. At the weekends it's mostly pretty quiet.
Furthermore you can think about selling when you see the next spike in google trends. At least I use this as an indicator and always have an eye on.

the bitcoinHodler in me tells everyone to HODL,
but at the same time when you are expecting a correction, that is a good idea to sell before it happens and then buy back again.
although if you want my opinion i'd say the correction happened already when we came down from $1600+ and stablized on $1500 range.
now any more correction has a less chance of happening. at least for the following week.

this is the price rise effect + Japan and other countries adopting bitcoin effect.

This is why trading is not the exact science some make it out to be, it is also an art, that is difficult to master if you fell like you need to sell so you make profits then go ahead and see if the results are what you are looking for.

[kwukduck]

You guys have no idea of what FOMO  actually looks like in a TA.

Maybe go back to playing wow in moms basement instead of sprouting this nonsense.

[Sniper44]

FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

lets not forget that Japan was the land of Mt Gox and they took a big hit after the big scam and they were out of the game for a long time. and now they are coming back, with a lot more faith and surprisingly with an open arms.
and we won't probably see their effect this soon but it is there and there will be a solid rise in real demand for bitcoin as new people with new money come in.

and lets not forget that Japan will soon host the Olympics games and that will be a huge publicity to the whole world as people go there with their foreign money and "Bitcoin is accepted here" signs will be everywhere and easy for them to just use bitcoin instead of exchanging their money.

[OrangeP]

FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

lets not forget that Japan was the land of Mt Gox and they took a big hit after the big scam and they were out of the game for a long time. and now they are coming back, with a lot more faith and surprisingly with an open arms.
and we won't probably see their effect this soon but it is there and there will be a solid rise in real demand for bitcoin as new people with new money come in.

and lets not forget that Japan will soon host the Olympics games and that will be a huge publicity to the whole world as people go there with their foreign money and "Bitcoin is accepted here" signs will be everywhere and easy for them to just use bitcoin instead of exchanging their money.

Never thought about the Olympics. Very interesting indeed.
Japan has had almost 3 centuries of economic decline, 0% interest rates and a weakening currency. Bitcoin is their new gold.

Does anyone have an idea whether Litecoin is accepted too over there?
If bitcoin becomes the frontrunner for daily transactions new people may get scared because it's slow and expensive.

[panju1]

FOMO shouldn't just be viewed as desperate and sudden thing.  Some investors (especially in Japan where some are more tech-savvy) are starting to realise that Bitcoin has a big future, as an asset or a currency or for wider applications or really anything else, and they're flowing in knowing that this will be a low price in a few years' time.

lets not forget that Japan was the land of Mt Gox and they took a big hit after the big scam and they were out of the game for a long time. and now they are coming back, with a lot more faith and surprisingly with an open arms.
and we won't probably see their effect this soon but it is there and there will be a solid rise in real demand for bitcoin as new people with new money come in.

and lets not forget that Japan will soon host the Olympics games and that will be a huge publicity to the whole world as people go there with their foreign money and "Bitcoin is accepted here" signs will be everywhere and easy for them to just use bitcoin instead of exchanging their money.

I doubt if "Bitcoin is accepted here" signs are ubiquitous enough for foreign tourists to use them. But if it does happen, especially before a big event like the Olympics, it could provide a big boost for Bitcoin. Of course, it depends on merchants not short-changing bitcoin users - i.e. not charging higher prices in bitcoins when compared to yen.