THE FOMO!

[BrewMaster]

a while ago i started a topic here talking about the FOMO that is going to occur when the price rise begins. here is the topic: https://bitcointalk.org/index.php?topic=5108231.0
although there weren't that many votes but it seems like most people got the right answer (the shoot up to $5k) which was the FOMO that i was talking about there. the initial leg up which shoots price upwards $1000 in a couple of hours.

now another question. what do you think the next leg up is going to be? maybe you think there is no FOMO and only a slow rise this time?
lets see how the results are going to be this time...

[1715322674]

1715322674

[dothebeats]

$1000 is a probable target, though from the looks of it, it looks like the movement has lost its steam and is now residing at the gentle arms of $4700 and won't be pushing any higher anytime sooner. The $800-$1000 price increase earlier was so abrupt that it looks like someone just bought a huge number of coins on an exchange and forgot that they might affect the market, although if that was the case, other people may have dumped their coins by now, but the price still stands to where it is until right now.

[Kemarit]

I voted a conservative $500, looks like a lot had made a short squeeze when the price goes to $5000 and now it seems that we lost some momentum and corrected itself around the $4600. We need to go the bottom as to what has caused the massive spike, did the whales pump it because it doesn't really looks organic to me unless we are really in a bull run wherein a $1000 increased a day will be a normal thing. So let's see how it goes, we just started this week and anything can happen and maybe FOMO will push it and slice $5000, gonna be interesting week ahead of us.

[Slow death]

other people may have dumped their coins by now, but the price still stands to where it is until right now.

Most people will hardly dump their currencies because after witnessing a long period of falling prices they are already aware that they have to insure for a long time and $4700 is not a very high price, with analysts who are making predictions that the price would fall to  $3000 and always fail in their predictions it is difficult for people to believe that the price will fall to  $3000, so people are optimistic that they should only hold long term to have high profits

[STT]

Its not major FOMO yet, its more shorts being too gloomy and thinking price moves in one direction only.    This is never possible because that would be free money, markets make people pay if anything

FOMO = water water foam is somehow the image I see every time people say this word, I cant help it.   Its the rapids

[The Cryptovator]

Although voted for $500 but I don't think it will hit $5.5K today or tomorrow. Most likely there will small correction. Perhaps it would reach next week if trend continues. I am still not believing that is bull run. Most likely it is a bull trap in my opinions. If btc stay above $4.5K then we can say btc preparing to another small bull. And its true today's sudden pump is due to FOMO. We have to wait at least 2 days to understand actual trend.

[michellee]

Although voted for $500 but I don't think it will hit $5.5K today or tomorrow. Most likely there will small correction. Perhaps it would reach next week if trend continues. I am still not believing that is bull run. Most likely it is a bull trap in my opinions. If btc stay above $4.5K then we can say btc preparing to another small bull. And its true today's sudden pump is due to FOMO. We have to wait at least 2 days to understand actual trend.

That usually happens after the price reaches the highest price, and it seems, $4800-$4900 will be the next highest price after we are down and make the correction before, but I still hope that the price can break $5000 again. But I see that the line still on the up line, so maybe we will see an increase for little in the next day. The bull run or not, and we are happy to see that bitcoin can increase in one night

[BitBustah]

I have a hunch that btc will break $5k within a couple of days.  The halvening isn't that far off so people are looking to buy now before supply rate drops off.  The altcoins seem to be following bitcoin like always so it doesn't hurt to diversify a little bit.

[fabiorem]

This is real.

I run bitcoin-qt and it slowed down. Fees have also increased. This dont happened the other times.

Im transferring it back to the SSD. My guess is a rise to 9k then fall back below 5k.

[o_e_l_e_o]

Talking about FOMO, I have a friend who messaged me this morning to say bought a couple of thousand dollars worth at around $4,900, and is upset that it has already lost some value. When I asked him what he had been doing for the last 4 months of sideways movement, he said he'd been "waiting for the right time". What made him think that after a pump of 20% in an hour was suddenly "the right time" is beyond me.

I thought we would correct a bit harder than we have, and I still think we might over the next day or two.

[gentlemand]

In the great scheme of things this isn't a truly radical move. Perhaps we could do without FOMO for quite some time. If it goes straight into overheat mode again that's not going to end well. I'd be happy if it settled downwards a bit from here and slowly grew.

[BrewMaster]

The $800-$1000 price increase earlier was so abrupt that it looks like someone just bought a huge number of coins on an exchange and forgot that they might affect the market,

that was the bots madness (at least the initial big rise). when the resistance was broken, usually there are bots that have open watchers to execute buy orders in case price goes above that level ($4200) and that is exactly what happened. an inflow of lots of automatic buys, then the FOMO begins and the price shoots up to $5000

this is what i think happened:

Talking about FOMO, I have a friend who messaged me this morning to say bought a couple of thousand dollars worth at around $4,900, and is upset that it has already lost some value. When I asked him what he had been doing for the last 4 months of sideways movement, he said he'd been "waiting for the right time". What made him think that after a pump of 20% in an hour was suddenly "the right time" is beyond me.

I thought we would correct a bit harder than we have, and I still think we might over the next day or two.

this is one of the main reasons that i have been and still am expecting F.O.M.O. there are a lot of people who are doing the same. they wait for that drop (down to $1000) which someone on the internet promised them!!! then panic when the price rises up and they realize that promise was an FUD.

[BitBustah]

Talking about FOMO, I have a friend who messaged me this morning to say bought a couple of thousand dollars worth at around $4,900, and is upset that it has already lost some value. When I asked him what he had been doing for the last 4 months of sideways movement, he said he'd been "waiting for the right time". What made him think that after a pump of 20% in an hour was suddenly "the right time" is beyond me.

I thought we would correct a bit harder than we have, and I still think we might over the next day or two.

That is just the newbie's mindset, they are scared to buy when they see red.  This is why we see this crazy parabolic rises.  $4900 is still a low price anyways, when we reach a new all time high he will be very happy with his purchase.

[o_e_l_e_o]

-snip-

Agreed. Although there are some idiots like my friend who FOMOed in at the peak, the majority of this movement was bots and pre-existing buy stop orders.

$4900 is still a low price anyways, when we reach a new all time high he will be very happy with his purchase.

True, if he can be convinced just to hold on. I expect if we see a pull back down to low to mid 4000s, he will panic and sell before the next upward movements, and then end up FOMOing in again at the height of the next rally. Some people just have no patience.

[tokeweed]

I wonder who the buyer (or buyers) was.  I mean it looks like a guy or one group cos all that +20% rise happened in one go for a tad under two hours.  

If you can find out who that is, I think you could at least figure out what's up and have some idea how far this really goes.

[The Sceptical Chymist]

Holy crap, I woke up this morning to bitcoin at more than $4700!  That's quite an increase--but I'm still not convinced that this is an actual trend or if we're going to end up back where we started in a week or so.

As far as FOMO goes, I bet it played a part in this recent rise.  It always does when the market really starts to move.  People get impatient and start remembering all the times they missed out on profiting from bitcoin's crazy swings, and they start throwing money into the market.  It's all good, though.  I'm sure this is making a lot of people a lot of money.  And I don't have a clue when the next leg up is going to be at.  Not even sure what that means.

[tokeweed]

^  It went over 5k USD for a bit.  And I don't think there's 'fomo'.  It looks like one guy or one group in coordination with another guy or group.  If there was any real fomo from the crowd, it would've gone to 6k USD easy.

[kenzawak]

^  It went over 5k USD for a bit.  And I don't think there's 'fomo'.  It looks like one guy or one group in coordination with another guy or group.  If there was any real fomo from the crowd, it would've gone to 6k USD easy.

Three possibilities ?

-Just one guy :
https://dailyhodl.com/2019/04/02/massive-bitcoin-whale-triggered-btc-surge-with-100-million-order-says-crypto-investment-firm-ceo/

-April fools fucking with bots
https://www.financemagnates.com/cryptocurrency/news/sec-drops-the-bomb-approves-bitcoin-etfs-markets-skyrocket

-Breaking 4,2 was all we needed
https://cryptobriefing.com/bitcoin-erupts-shorts-wiped/

[Adriano2010]

The Fomo has start but we need more buy orders then sell and i hope to break 5000$ resistance and after i think the next stop is 7000$ and the price can goes to 10,000 after more time.

[fudster]

Don't you guys think this is still a trap?  Now that's going to create a a FOMO.