Where's FOMO at? Tom Lee

[Kemarit]

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?

It's because he is in the crypto sphere. And we all know that people loves news around, saying this x amount could be achieved in x amount of time. What's what Tom Lee does, although majority of us really knows that story behind why he keeps on hyping bitcoin.

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$

The last crash was still fresh in our memory, many got burned and learned their lessons, exited. But it looks like there's a new set of FOMO coming in, new idea what happen before and will FOMO till $10000-$20000, that's for sure.

[serjent05]

The last crash was still fresh in our memory, many got burned and learned their lessons, exited. But it looks like there's a new set of FOMO coming in, new idea what happen before and will FOMO till $10000-$20000, that's for sure.

Uhuh!  But Fomo won't happen soon because BAKKT were again delayed.  The SPEDN hype already diminished so what is next big new for Bitcoin, I guess none yet except if the real Satoshi steps in and disclose all CW's lies and paranoia.

[mirakal]

The last crash was still fresh in our memory, many got burned and learned their lessons, exited. But it looks like there's a new set of FOMO coming in, new idea what happen before and will FOMO till $10000-$20000, that's for sure.

Uhuh!  But Fomo won't happen soon because BAKKT were again delayed.  The SPEDN hype already diminished so what is next big new for Bitcoin, I guess none yet except if the real Satoshi steps in and disclose all CW's lies and paranoia.

People aren't expecting of BAKKT anymore, same with ETF approval, we don't see any final decision on this two.
AFAIK, the market has recovered even without big news, it's just that it was dump so hard that big investors are seeing it as an opportunity to accumulate again.

[TheBeardedBaby]

~
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.

I experienced the same back then, but Coinbase was down only for a few hours compared to the highest pick it was closed almost trough the whole day 17th of Dec if I remember correctly.
I wanted to sell and and open a new buy position but never got the chance. The ATH could go hither if the exchange was operating.
You are right that it could have been only a temporal peak but, we will never find out.

[Naida_BR]

I am also in favor of FOMO is going to start at 10k.
This is a point where people will start identifying that Bitcoin is going to touch again the ATH that occurred in early 2018 so they are going to start jumping in the market. We have to struggle to reach the price at 10k and they everything will be easier from that level and further.

[justspare]

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.

As long as this market is a speculative one, people will always have a wrong prediction, they are nit computer or super beings to know exactly what the future hold and tome lee is just an ordinary analyst like us, he is not using any other special tool to speculate other than the one we all do too.

So, I dint think people should crucify him that much, he is simply a believer of bitcoin like us and would do everything possible to create all the hypes necessary for bitcoin to continue gaining a very strong value.

There will always be a drop in price of BTC at any point, we can just be leaning how to take profit from all these drops and increase instead of just speculating in an unpredictable market.

[bbc.reporter]

What would stop bitcoin from pumping to $20k this year if there would be hundreds of millions more in liquidations of short positions?


Tom Lee approves

Technical analyst and BLOCKTV reporter Joe Saz says he doubts Bitcoin’s surge is over.

According to Saz, BTC bulls are likely to keep charging after liquidating millions of dollars worth of short positions in the last 24 hours.

“I think that this can keep going. There’s nothing stopping it. I don’t want to go too far into the clouds here, but there might have even been $100 million plus dollars in liquidations overnight…

I saw a lot of $10 million in short liquidations. So what does that mean? It means a lot of people were betting that we were headed down and they got completely smashed in the face. So I don’t recommend to enter any short or long positions.

Read in full https://dailyhodl.com/2019/06/16/crypto-analyst-nothing-stopping-bitcoin-after-potential-100-million-in-liquidations/

[pooya87]

What would stop bitcoin from pumping to $20k this year if there would be hundreds of millions more in liquidations of short positions?
~
I saw a lot of $10 million in short liquidations. So what does that mean? It means a lot of people were betting that we were headed down and they got completely smashed in the face. So I don’t recommend to enter any short or long positions.[/i]

this!
at any moment in any market with any trend, there are always a lot of people who are going against the trend and lose their money. that is how trading is profitable for some (other) people. otherwise if everyone were to win then the market wouldn't have existed anymore.
but these people should never be used as an indicator for speculating about the price. they exist to feed the pockets of the experts who are capable of seeing the trend and going with it instead of against it.

[freedomgo]

Now that we are close to $10,000, I'm looking forward on the FOMO, he might be right, but let's find out.
The FOMO is what the market to be lively again, when I see lively that means altcoins will join the party also, and more lively if the worthless altcoins will also grow.

[figmentofmyass]

What would stop bitcoin from pumping to $20k this year if there would be hundreds of millions more in liquidations of short positions?

Tom Lee approves

FYI that's a picture of tom cruise, not tom lee.

shorts are definitely ripe for squeezing on bitfinex. 25k BTC outstanding, outnumbering longs. it looks like ~7000 of those were added in the $8000s, so those bears must be sweating now. bitmex data is more opaque but i'm guessing trader commitments reflect similar sentiment.

[1Referee]

The FOMO is what the market to be lively again, when I see lively that means altcoins will join the party also, and more lively if the worthless altcoins will also grow.

People have been predicting an altcoin boom for months now and so far it have only been the low market cap coins that exploded from time to time. If you also take into consideration that Binance is no longer going to accept users from the US, even less fomo capital will be pumped in the coins they have listed.

Even the XRP army has finally taken a few steps back. They're way less aggressive on social media right now than they were at the beginning of the year.

[superstarbtc]

Now that we are close to $10,000, I'm looking forward on the FOMO, he might be right, but let's find out.
The FOMO is what the market to be lively again, when I see lively that means altcoins will join the party also, and more lively if the worthless altcoins will also grow.

After reaching 10,000$ people will really wait for the market how far the price of Bitcoin will reach but everything they need to follow some technical analysis which will help them to predict. I think in some cases it is possible and in some cases, it is impossible to reach that value.

[Harlot]

Now that we are close to $10,000, I'm looking forward on the FOMO, he might be right, but let's find out.
The FOMO is what the market to be lively again, when I see lively that means altcoins will join the party also, and more lively if the worthless altcoins will also grow.

I don't thin it will be the same price point as last time. Since BTC is akready expected to go back up above the 10,000$ level and if I'm right this will just be another level will people are still trying to feel the market. FOMO might even start if BTC is near around 11,000-12,000$ since this will make the rest of the people start to see BTC attractive again. Together with mass media attention it will make when it has surpass the 10k level I know people will shift all their attention to the crypto market once again.

[BitHodler]

What would stop bitcoin from pumping to $20k this year if there would be hundreds of millions more in liquidations of short positions?

Nothing. If the price breaks the $10k mark easily and we pump straight to $12-$13k, then I am sure that people will be so confident that $20k is near, that they won't unload anything until we actually reach that price.

If people firmly hodl their coins waiting for $20k there will be so little spot supply available that it might only take a month or two to pump that high (obviously assuming it plays out like that).

I'm personally looking to cash out some profits somewhere around the $18k mark, just to make sure I'm selling before others start massively selling to front run those who wait for the $20k mark to be hit.

[bbc.reporter]

What would stop bitcoin from pumping to $20k this year if there would be hundreds of millions more in liquidations of short positions?

Tom Lee approves

FYI that's a picture of tom cruise, not tom lee.

shorts are definitely ripe for squeezing on bitfinex. 25k BTC outstanding, outnumbering longs. it looks like ~7000 of those were added in the $8000s, so those bears must be sweating now. bitmex data is more opaque but i'm guessing trader commitments reflect similar sentiment.

If his predictions of new all time highs occur anytime in 2019, I reckon everyone will be looking at him like he was Tom Cruise hehehe.

[pooya87]

The FOMO is what the market to be lively again, when I see lively that means altcoins will join the party also, and more lively if the worthless altcoins will also grow.

People have been predicting an altcoin boom for months now and so far it have only been the low market cap coins that exploded from time to time. If you also take into consideration that Binance is no longer going to accept users from the US, even less fomo capital will be pumped in the coins they have listed.

Even the XRP army has finally taken a few steps back. They're way less aggressive on social media right now than they were at the beginning of the year.

the big altcoins aren't capable of pumping EXACTLY BECAUSE people have been predicting their boom! you see the only reason why people come on social media to hype some shitcoin and talk about how it is going to get pumped is because they are bag holding it (and usually are in a big loss) and want to see it pumped so they can dump and get their money out. and that is exactly what they do whenever there is a small pump, they dump to recover something like 10% of the 80% loss they sustained.

meanwhile small altcoins don't have that problem since there are not that many smallcoin bag holders as there are bag holders of coins like ETH, XRP,.... so they can easily get pumped without much resistance.

[bbc.reporter]

Tom Lee has spoken hehehe. This handsome looking guy appears to be looking more handsome from each dollar growth of bitcoin.

Also, he mentioned that everyone is silent about this bull market. I reckon he is talking about the mainstream media. Once mainstream media begins hyping bitcoin, be cautious hehehehe.



Having crossed above the $9,000 level on Sunday ahead of Facebook announcing its own cryptocurrency, Libra, bitcoin is now up 146% this year. But that could be just the beginning for its bounce back, says bitcoin bull and Fundstrat Global Advisors’ research chief Tom Lee.

“I think bitcoin is easily going to take out its all-time highs” of $20,000, and has the potential to run to $40,000 if its use cases grow, Lee said Tuesday on CNBC’s “Futures Now.” “We’re deep into a bull market, and people are pretty silent about it.”

Read in full https://www.cnbc.com/2019/06/18/bitcoin-is-easily-going-to-take-out-its-all-time-highs-tom-lee.html

[mirakal]

~snip

He should be happy by now as his prediction slowly come into reality, with the price moving so bullish, it made me believe that we shall see a new ATH this year.

[adaseb]

The facebook news seems pretty positive for the crypto atmosphere. Basically its 2017 again and people keep texting me asking about BTC and how they can buy the Facebook coin.

Even though Bitcoin is little connected to Libra, its still a positive leap forward for cryptocurrencies in general. Since if "Facebook" a huge company actually gets behind it, then it means its a huge deal.

So people will go and read about Cryptos and learn about Bitcoin since its the original coin that started it all. They will see that its still below $10K and buy thinking it will rise in value very soon.

[Pamadar]

~snip

He should be happy by now as his prediction slowly come into reality, with the price moving so bullish, it made me believe that we shall see a new ATH this year.

Big chance if more investors to come in and keep buying and store it inside their wallets, if there's more people who's gonna be willing to support this industry this statement will be on it's way to reality, the rise are slowly being felt and enjoyed by those who bought earlier this year.