Where's FOMO at? Tom Lee

[Arkham Knight]

It should be $21k in my opinion. I expect a much more aggressive and strong FOMO if we shattered that old all time high record. People have witnessed the 2017 moon event and the thing that will be always in my mind is that when it hits $15k or $20k then everybody will all cashout again. The larger the price, the larger the FOMO so let's get to $100k, shall we?

[1715554782]

1715554782

[1715554782]

1715554782

[1715554782]

1715554782

[bbc.reporter]

I needed some Tom Lee news but there was nothing about him saying anything about this dump. Is he hiding again hehehe?

In any case, he said that the altcoin bulls will be the next to come. I reckon the bagholders will be happy hehe.



It’s a well known fact in the crypto market that altcoins typically have their bull market moment after bitcoin has finished its course. With BTC dominance breaking above 60% for the first time in 2 years, it certainly seems like the time is coming for altcoins to enjoy new highs. In a recent tweet, Tom Lee, co-founder of Fundstrat Global Advisors, confirms that he believes the altcoin season is coming, and shared a post which highlights 9 small cap coins that are starting to post solid gains.

Source https://bitcoinist.com/the-altcoin-season-will-come-says-fundstrats-tom-lee/

[Kemarit]

I needed some Tom Lee news but there was nothing about him saying anything about this dump. Is he hiding again hehehe?

In any case, he said that the altcoin bulls will be the next to come. I reckon the bagholders will be happy hehe.

~ snip ~

He said that at least we are out of the crypto winter, and this kind of pull back is very healthy for the ecosystem.

Yes. Healthy. Doesn’t change the fact crypto winter is over

https://twitter.com/fundstrat/status/1144198634986037249

I guess it's time for him to pump up the altcoins and probably his clients is some of the biggest bagholders around.  So let's see the FOMO around $10,000 has been reached already, time for him to make a new statements to fit his narratives to satisfy everyone around him. 

[pooya87]

It’s a well known fact in the crypto market that altcoins typically have their bull market moment after bitcoin has finished its course.

actually the "fact" has always been that altcoins get pumped when bitcoin is stable. simply because traders can't make the same amount of profit from a stable market so they invest their time temporarily in altcoins to pump them.
otherwise when bitcoin bull market ends it always ends with a bubble (like $20k) and that is followed by a bubble burst  which then causes altcoin dumps.

[Ziskinberg]

It’s a well known fact in the crypto market that altcoins typically have their bull market moment after bitcoin has finished its course.

actually the "fact" has always been that altcoins get pumped when bitcoin is stable. simply because traders can't make the same amount of profit from a stable market so they invest their time temporarily in altcoins to pump them.
otherwise when bitcoin bull market ends it always ends with a bubble (like $20k) and that is followed by a bubble burst  which then causes altcoin dumps.

That has bee the trend in the past, and I guess it would not change until it will really change.
Therefore, it's expected that the bull run for altcoins are going to happen this year, provided Bitcoin bull run will start and break the ATH.

[bbc.reporter]

It’s a well known fact in the crypto market that altcoins typically have their bull market moment after bitcoin has finished its course.

actually the "fact" has always been that altcoins get pumped when bitcoin is stable. simply because traders can't make the same amount of profit from a stable market so they invest their time temporarily in altcoins to pump them.
otherwise when bitcoin bull market ends it always ends with a bubble (like $20k) and that is followed by a bubble burst  which then causes altcoin dumps.

However, if you check some of the top 100 altcoin's prices in fiat, they are also bullish. But only not as volatile as bitcoin, however. Tom Lee might only be speculating that this might change soon because altcoins have normally been more volatile during bull or bear markets.

[pooya87]

It’s a well known fact in the crypto market that altcoins typically have their bull market moment after bitcoin has finished its course.

actually the "fact" has always been that altcoins get pumped when bitcoin is stable. simply because traders can't make the same amount of profit from a stable market so they invest their time temporarily in altcoins to pump them.
otherwise when bitcoin bull market ends it always ends with a bubble (like $20k) and that is followed by a bubble burst  which then causes altcoin dumps.

However, if you check some of the top 100 altcoin's prices in fiat, they are also bullish. But only not as volatile as bitcoin, however. Tom Lee might only be speculating that this might change soon because altcoins have normally been more volatile during bull or bear markets.

actually they are not.
if you look at the market you can see that they are only showing gains in their USD value purely because bitcoin price against USD went up and people are trading them with bitcoin not with USD. and they didn't even match the rise of bitcoin because they were actually dumped. for example take the two top altcoins compared to bitcoin from April first that bitcoin big breakout happened:
bitcoin: from $4100 to $11800 -> 178%
XRP: from $0.31 to $0.40 -> 29%
XRP: from 7557 sat to 3407 -> -54% (lost half its value)

ETH: from $155 to $292 -> 88%
ETH: from 0.035 to 0.022 -> -37%

i don't think we can call any of this "bullish"

[bbc.reporter]

@pooya87. I said to check the prices in fiat, however. From your example, Ethereum has almost doubled market capitalization in fiat. That is bullish.

[freedomgo]

@pooya87. I said to check the prices in fiat, however. From your example, Ethereum has almost doubled market capitalization in fiat. That is bullish.

I'll disagree with it, the only reason ETH double because it did not move while BTC is moving up so it has benefited on the BTC increase.
I have a different standard when considering a bullish trend, and I'd like to see ETH move like BTC and carry its ETH tokens to also rise.

[bbc.reporter]

@freedomgo. If it did not move then it will not double in market capitalization hehehe.

Look at Ethereum's chart versus the dollar. It has touched its support on December and the price in fiat has been increasing slowly after that. You cannot deny that it is bullish, but less volatile than bitcoin for now, however.

[pooya87]

my whole point was that you should not look at altcoin prices in USD unless you are actually trading them with real US DOLLARS! but as long as you are going on an altcoin exchange such as Binance, then deposit bitcoin and buy/sell altcoins with bitcoin you should look at their prices in BITCOIN!

let me give you an example with a real fiat scenario (pound that dropped over the last week).
lets use a hypothetical situation where ETH has 100 million supply and is worth 100 USD (for easy calculation) over the past month without changing at all.
last week 1 GBP was worth 1.27 USD so ethereum price would have been 78.74 GBP which is 7.874 billion GBP market cap
now GBP has dropped so ETH price is 80.64 GBP and that is 8.064 billion GPB market cap

in other words ETH market cap without even moving its price grew 190 million GBP! does that mean ETH was bullish?

now lets say ETH price actually fell down to 98 dollars that still means its market cap in GBP went up to 79.03*100mil = 7.903 billion GBP which is a 29 million GBP growth. do you still call ETH bullish?

[bbc.reporter]

@pooya87. I said to look at the chart in fiat. I did not mention anything about trading and I was only indicating the direction of some altcoins in fiat. I reckon they are bullish, however not as volatile as bitcoin.

Your example is only complicating it.

[freedomgo]

@freedomgo. If it did not move then it will not double in market capitalization hehehe.

Look at Ethereum's chart versus the dollar. It has touched its support on December and the price in fiat has been increasing slowly after that. You cannot deny that it is bullish, but less volatile than bitcoin for now, however.

I don't look at the fiat value of ETH because that is not my basis in determining whether it's bullish or not.
But I would be happy if ETH will not drop and bitcoin will continue to moon as like I said, it will influence its USD value, but that should be credited to BTC's good performance and that's the reason why BTC is so dominant and even if altcoins like ETH will just remain stable in BTC value, it's value will still be good but not as better as bitcoin who solely initiated the rise.

[bbc.reporter]

@freedomgo. Maybe next time you first try to read and get the idea of the argument before making a post.

Also, comparing altcoin prices to something as volatile as bitcoin might not be the best way. Bullishness might be more practically measured by using something more stable.

I don't look at the fiat value of ETH because that is not my basis in determining whether it's bullish or not.

However, if you check some of the top 100 altcoin's prices in fiat, they are also bullish.

[freedomgo]

I respect your opinion but we don't have the same interpretation on what we are saying, let's just say that's my way of analyzing things, after all no one can assure that his analysis is correct all the time. 

@freedomgo. Maybe next time you first try to read and get the idea of the argument before making a post.

Also, comparing altcoin prices to something as volatile as bitcoin might not be the best way. Bullishness might be more practically measured by using something more stable.

I don't look at the fiat value of ETH because that is not my basis in determining whether it's bullish or not.

However, if you check some of the top 100 altcoin's prices in fiat, they are also bullish.

[bbc.reporter]

@freedomgo. It was because you did not read what I said. I said bullish in fiat, capitalization doubled in fiat and their only difference, bitcoin is more volatile.

In any case, Tom Lee's latest statement hehe.


I think all-time highs are imminent.

Read in full https://bitcoinist.com/bitcoin-to-hit-new-all-time-high-imminently-tom-lee/