Where's FOMO at? Tom Lee

[davis196]

The bitcoin price recovered pretty fast (it's currently around 7800 USD) from the recent price crash and maybe Tom Lee is on the right track.We might be heading towards 10K USD,which is amazing.I though that we will reach 10K somewhere around the summer of 2020.
Anyway,I'm not that enthusiastic.I new price crash might happen anytime soon.

[wuvdoll]

Tom Lee is usually a fool but at this moment he is totally right. Ten thousand dollars would make a great FOMO price and we would have very little resistance left to hold us so if we can pass the 10 thousand dollar mark then we will see another new hype and a lot of people buying bitcoin which would result with price going even higher in an endless circle (of course it eventually ends when they can't afford to make it even higher).

So, maybe for just this time only we can agree with Tom Lee, but even though he said something we all thought he was right just because he said it I feel a doubt, if he didn't say it at all I would have thought the same but since its Tom Lee and since he has always been wrong it makes you doubt your own opinions when you agree with him.

[noormcs5]

I'll take a page from bbc.reporter. 

Tom Lee recently had a poll to see what price is the FOMO?

It looks like $10k, according to the votes. I should have voted for "Now!!!".  . What do you think guys? Is $10k the FOMO price?

https://twitter.com/fundstrat/status/1127368266496630784

I do not think that bitcoin fomo will be link with price this time. Bitcoin Halving is a big event which occur after every four years. In the last two halving, we have seen bitcoin prices surged to all time high. Keeping this in mind, the halving fomo will be big this time and we may see bitcoin rise to all time high even before the halving.

[Whaleagent]

LOL, Tom Lee is permabull so what do you expect? I wouldn't vote neither or any of the choices.  There will be FOMO at different stages as the price increase as well. But I guess FOMO had died down in the last couple of days though, the price goes and settled around $8000 now. But there will be FOMO that's for sure, when the price started to pick up again and run up to $10000.

Tom Lee is a perma idiot. Seriously why do people still follow that guy? He made some outrageous predictions for 2018 and kept making new ones that were just as bad, he was literally proven wrong a whole year and people still think he is a good analyst?

I also doubt FOMO is going to be at 10.000$ I'm fairly sure people are going to be more cautious about bitcoin, the last crash is still quite recent, a lot more people are going to take profits earlier this time. I personally believe the real crazy FOMO like last time will only start when we break 20.000$

We have different opinions, i think the fomo is happening looking at the recent price jumps, i really think people are accumulating.

Accumulating is not FOMO. Real FOMO happens when your average joe jumps in and buys BTC at any price without even knowing much about it just because they think it will go up x20 in the next few days. That's what happened in 2017, EVERYONE was jumping in, buying bitcoin/alts at any price pumping it and ignoring every technical indicator out there. Every technical indicator said bitcoin needed to consolidate a lot in 2017 but people kept pumping it until it collapsed.

[1Referee]

I though that we will reach 10K somewhere around the summer of 2020.

It really looked like it would be a slow ride up, so don't blame yourself for following the market as it was. No one could have predicted this to happen.

Anyway,I'm not that enthusiastic.I new price crash might happen anytime soon.

It could happen, but if you have been following live trading, there is a lot of small scale profit taking happening already, and that for weeks straight now. Instead of selling big, traders/investors seem to sell smaller fractions of their stack in order to not miss out on more gains. If you sold the $5000 pump in April thinking it would tank hard you're not happy now.  

Small scale profit taking means profit taking at $5000>$6000>$7000>$8000 which bumps your average profit the higher the price goes up.

[magneto]

Firstly, let me preface by saying something that I've said for a long time - Tom Lee is one of the most unreliable analysts in the mainstream media. I honestly feel like that sometimes, his predictions are completely arbitrary and backed by no tangible proof.

However, I'd probably agree with the sentiment reflected through the poll this time.

It should be apparent to anyone right now that a recovery is underway due to the shift in market sentiment from bearish to bullish over the last few months, but I certainly don't think that overall, there is anywhere as much buzz and fear of missing out in the market yet to say that the people calling for further collapses down to sub $1k levels will all of a sudden shift their stance completely. If the $10k psychological barrier can be breached then expect a huge increase in bullish sentiment.

If we're talking about the weak hands that sold at the bottom of the bear market though, I think they're already FOMOing, since they've demonstrated that their sentiments can be manipulated very easily.

[WinslowIII]

Firstly, let me preface by saying something that I've said for a long time - Tom Lee is one of the most unreliable analysts in the mainstream media. I honestly feel like that sometimes, his predictions are completely arbitrary and backed by no tangible proof.

However, I'd probably agree with the sentiment reflected through the poll this time.

It should be apparent to anyone right now that a recovery is underway due to the shift in market sentiment from bearish to bullish over the last few months, but I certainly don't think that overall, there is anywhere as much buzz and fear of missing out in the market yet to say that the people calling for further collapses down to sub $1k levels will all of a sudden shift their stance completely. If the $10k psychological barrier can be breached then expect a huge increase in bullish sentiment.

If we're talking about the weak hands that sold at the bottom of the bear market though, I think they're already FOMOing, since they've demonstrated that their sentiments can be manipulated very easily.

Tom Lee is right, it's just his timing that is off. The problem is that timing is everything with trading, and Lee is not a trader.

[BitHodler]

If we're talking about the weak hands that sold at the bottom of the bear market though, I think they're already FOMOing, since they've demonstrated that their sentiments can be manipulated very easily.

I'm not sure how many of last year's sellers have actually fomo'ed in already. I think that a lot of them paid attention to what the hyperwave squad was saying, therefore people might have believed that sub $2000 levels were due.

Most of the weak hands tend to buy into altcoins, so if we see altcoins lift up harder than Bitcoin, which hasn't really been the case lately, it's safe to say that weak handed retailers aren't fomo'ing yet.

For me to believe that they are blindly buying, altcoins will have to report 10% gains when Bitcoin does 5%, which is how altcoins usually tend to increase. Current rally seems to be driven by smart money rather than dumb money.

[pooya87]

If we're talking about the weak hands that sold at the bottom of the bear market though, I think they're already FOMOing, since they've demonstrated that their sentiments can be manipulated very easily.

I'm not sure how many of last year's sellers have actually fomo'ed in already. I think that a lot of them paid attention to what the hyperwave squad was saying, therefore people might have believed that sub $2000 levels were due.

Most of the weak hands tend to buy into altcoins, so if we see altcoins lift up harder than Bitcoin, which hasn't really been the case lately, it's safe to say that weak handed retailers aren't fomo'ing yet.

For me to believe that they are blindly buying, altcoins will have to report 10% gains when Bitcoin does 5%, which is how altcoins usually tend to increase. Current rally seems to be driven by smart money rather than dumb money.

i don't think the FOMO is currently from last year's sellers, but i think it is mainly coming from this year's people who were waiting to buy. most of those who sold in 2018, specially in the second half of the year are those wounded newcomers who lost money and are not going to come back any time soon. what we had here were people who were greedy to buy bitcoin as cheap as possible but had their dreams of $1000, etc crushed so they FOMOed right back in to not lose any more.

as for altcoins, they should never be viewed as an investment which entails longer term commitment, but they should instead be viewed as short term tools for pump and dumping to increase the bitcoin wealth of the traders.

[bbc.reporter]

FOMO is not something that happens once and at a particular price, FOMO is happening every day and at all prices and we have many different types of it with different levels of "fear".
for example when price reversed out of $3100 we had a FOMO, but a small one as price went up to $4.2k and the "fear" factor in that was small too. but then when we broke the $4.2k resistance the bigger FOMO began and price shot up to above $5k. then we have seen 2 more FOMOs as price kept pushing upward and as people "feared" more and more about how they were missing out on the rise.

so in other words from the bottom ($3.1k) up to $8k+ we have already had multiple FOMO cases with at least 2 big ones. and we will continue seeing different types and levels of FOMO.
$10k breakout will be newcomers mostly and a moderately size FOMO, the $21k breakout will be a lot more newcomers and a much bigger FOMO and finally the biggest FOMO will occur near the end (similar to 2017 and the rise from $9k to $20k in one month) possibly at $80k to $100k.

Tom Lee agrees. He was always in FOMO for the whole year during the 2018 bear market. He never stopped telling all his interviewers about his price prediction of $25k. If he was in Game of Thrones he would be called Tom Lee the Brave, the slayer of bears hehehe.

In any case, is it the right time to listen to Tom Lee?

[mirakal]

In any case, is it the right time to listen to Tom Lee?

Let's confirm that finally this time around he is right.
He never change his stance in bitcoin, he remain bullish despite of the long bear run, he will earn a lot of fans this year if FOMO would really happen.
His prediction could possibly happen as well as bull market knows no limit.

[FanEagle]

I am with this guy, I am also bullish so I believe that in $10,000 we will see a FOMO.
The question now is when it's going to happen, could it be in the first half or the next half? regardless, the bull run before only take over 1 month to reach ATH.

I am sure that this price won’t become reality until the Q3 of the year, it would have been very possible if we are to rely on the momentum bitcoin has been gathering to break barriers for the past one month, but because of the pull back that will always be present at every barrier, it makes it impossible to have a full stretch momentum without a pullback which I still feel it is quite healthy for the market.

So, with this slow and gradual increase in price of bitcoin, we might get round September before we successfully break the barrier of $10k that I also believe will cause panic buy for people.

[UNOE]

The bitcoin price recovered pretty fast (it's currently around 7800 USD) from the recent price crash and maybe Tom Lee is on the right track.We might be heading towards 10K USD,which is amazing.I though that we will reach 10K somewhere around the summer of 2020.
Anyway,I'm not that enthusiastic.I new price crash might happen anytime soon.

I see that right now most of people expecting BTC price to drop, wich looks reasonable to me too, but the market usually do the opposite. In cryptocurrency market, we must expect the unexpected.
I think it is irrelevant what Tom Lee says, because of fact that he was mostly wrong with his predictions. No one could ever know which price will be next day.

[TheBeardedBaby]

The FOMO is not that important, it will happen eventually. The real question is at what point the exchanges will stop the skyrocketing bitcoin?
This is what happen in 2017. That moment when bitcoin touched the 20K$, Coinbase and the other major exchanged closed due to traffic overload .
I wonder if they kept the exchange open, ATH could be far beyond 20k$.

[ryzaadit]

Tom Lee is usually a fool but at this moment he is totally right. Ten thousand dollars would make a great FOMO price and we would have very little resistance left to hold us so if we can pass the 10 thousand dollar mark then we will see another new hype and a lot of people buying bitcoin which would result with price going even higher in an endless circle (of course it eventually ends when they can't afford to make it even higher).

So, maybe for just this time only we can agree with Tom Lee, but even though he said something we all thought he was right just because he said it I feel a doubt, if he didn't say it at all I would have thought the same but since its Tom Lee and since he has always been wrong it makes you doubt your own opinions when you agree with him.

If you compare with John McAfee, well i choosing Tome Lee his target & prediction was really realistic. At bullish 2017 his predicted was really right passed the target price.

[Herbert2020]

The FOMO is not that important, it will happen eventually. The real question is at what point the exchanges will stop the skyrocketing bitcoin?
This is what happen in 2017. That moment when bitcoin touched the 20K$, Coinbase and the other major exchanged closed due to traffic overload .
I wonder if they kept the exchange open, ATH could be far beyond 20k$.

but big exchanges like that always go down during surges, in fact in 2017 i remember them having lots of troubles regularly not just at $20k price. things were bad at some points that people couldn't make any trades. i wouldn't call that "stopping the skyrocket" though, because if the money is flowing in then there is no stopping that.

[xvids]

LOL, Tom Lee is permabull so what do you expect? I wouldn't vote neither or any of the choices.  There will be FOMO at different stages as the price increase as well. But I guess FOMO had died down in the last couple of days though, the price goes and settled around $8000 now. But there will be FOMO that's for sure, when the price started to pick up again and run up to $10000.

I agree FOMO would always be there when the price increase it would always be at peoples mind .
And what do you expect when the price hit $10K it would trigger everyone?
And invest continuesly on crypto? Even now it could happen and it could also be the reason why we would hit $10K.

[beerlover]

We can’t really be so sure FOMO will be active at $10,000 based on people’s past experience, I am not even so sure that people will still fall much for FOMO except newbies who doesn’t know anything about the last bull run. The only time I expect a rush by now which I would term Panic buy is when bitcoin price drops further to like $4500, if you check the number of people who has been wishing to see that opportunity again, but unfortunately, that opportunity is long gone already.

If bitcoin reaches the price of $10,000, I feel people might start selling off for profit except we have a very big announcement that will make people dare hold on past the value of $10k, otherwise, we might drop to $6k from 10k before we then proceed on the bull lane.

[pushups44]

I see FOMO already starting, but it will definitely pick up at $10,000, and will increase the higher it goes. We will see analysts calling for sky-high prices the higher bitcoin goes, as they race to see who will call the top.

[pooya87]

FOMO is not something that happens once and at a particular price, FOMO is happening every day and at all prices and we have many different types of it with different levels of "fear".
for example when price reversed out of $3100 we had a FOMO, but a small one as price went up to $4.2k and the "fear" factor in that was small too. but then when we broke the $4.2k resistance the bigger FOMO began and price shot up to above $5k. then we have seen 2 more FOMOs as price kept pushing upward and as people "feared" more and more about how they were missing out on the rise.

so in other words from the bottom ($3.1k) up to $8k+ we have already had multiple FOMO cases with at least 2 big ones. and we will continue seeing different types and levels of FOMO.
$10k breakout will be newcomers mostly and a moderately size FOMO, the $21k breakout will be a lot more newcomers and a much bigger FOMO and finally the biggest FOMO will occur near the end (similar to 2017 and the rise from $9k to $20k in one month) possibly at $80k to $100k.

Tom Lee agrees. He was always in FOMO for the whole year during the 2018 bear market. He never stopped telling all his interviewers about his price prediction of $25k. If he was in Game of Thrones he would be called Tom Lee the Brave, the slayer of bears hehehe.

In any case, is it the right time to listen to Tom Lee?

if Tom Lee was in GOT he would have already been killed since they have already killed everyone in that show and there is nobody left anymore

it is never a good time to listen to anybody when it comes to bitcoin price predictions specifically those who have been making lots of predictions all year long no matter their correctness because all those that are throwing predictions at us are doing it for their own benefit and most of them are saying random numbers without basis.