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Author Topic: is the market building up towards another bog FOMO?  (Read 238 times)
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October 02, 2019, 11:48:45 AM
 #21

I do not believe that we are headed for another FOMO event.
If enough people believe that it will help increase the odds of another fomo run. It's called fomo for a reason, which means that people have been holding back thinking the price wouldn't go up, but when they see it does they enter the ship.

Did anyone here expect the price to reach $14k this year? No. People were busy discussing scenarios where a retest of the $800 level was an option too. They sold hoping to buy that bottom. Instead, they bought well above their selling price.

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October 02, 2019, 02:14:37 PM
 #22

Yeah, the market is really building up for another breakout possibly close to $15K. $20K is not happening anytime soon until after the bitcoin halving in May 2020 i guess. Anyway, i don't really see the levels of $5k and $6k happening lol...that would be hell for some folks Grin




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October 02, 2019, 03:22:43 PM
 #23

$20k is possible  happen by the end of this years, but BTC need very strong momentum to break through $15K before breaking through $20K, but many one said that it is impossible BTC hit $20K this years, only time can prove it, read the analyzes why BTC can't hit $20K this years.

https://cointelegraph.com/news/bitcoin-price-has-7-chance-to-hit-20k-by-end-of-2019-data-claims

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October 03, 2019, 04:19:56 AM
Merited by Wind_FURY (1)
 #24

We don’t need FOMO, we need real use case, we need people to stop using speculations and FOMO to move the market up in value, this is why we usually do have lots of premature dumping because those that FOMO are the same people that usually would panic sell when they eventually saw that what they thought was going to happen is not what is happening, but I doubt if we have had so much FOMO this year as majority of investors have learnt a lot and they are always calm about their investment now.

I really need a situation whereby we will get to a certain stage that we will be using bitcoin as real currency, and this is what can sustain any value in the market, with FOMO and all that, it may actually become impossible for us to be able to retain any high value.




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October 03, 2019, 08:01:30 AM
 #25

We don’t need FOMO, we need real use case, we need people to stop using speculations and FOMO to move the market up in value, this is why we usually do have lots of premature dumping because those that FOMO are the same people that usually would panic sell when they eventually saw that what they thought was going to happen is not what is happening, but I doubt if we have had so much FOMO this year as majority of investors have learnt a lot and they are always calm about their investment now.


I like the attitude, but FOMO, the interest, adoption, then HODLING sometimes come together.

Quote

I really need a situation whereby we will get to a certain stage that we will be using bitcoin as real currency, and this is what can sustain any value in the market, with FOMO and all that, it may actually become impossible for us to be able to retain any high value.


Success as a store of value, or an opt-out mechanism from traditional markets could help sustain value too in my opinion.

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October 03, 2019, 05:05:38 PM
Merited by Wind_FURY (1)
 #26

We don’t need FOMO, we need real use case, we need people to stop using speculations and FOMO to move the market up in value

I really need a situation whereby we will get to a certain stage that we will be using bitcoin as real currency, and this is what can sustain any value in the market, with FOMO and all that, it may actually become impossible for us to be able to retain any high value.

Whether we need FOMO isn't the question. It's just a natural byproduct of strong bull markets. It's inevitable. If Bitcoin's price is rising, you will always see speculators chasing those gains. And considering Bitcoin's overall fundamentals as a monetary instrument and its very limited supply, it's bound to keep rising.

So learn to love the FOMO. It's not going anywhere.

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October 03, 2019, 08:04:54 PM
 #27

Generally, every crypto project needs FOMO in this red market, not only btc. Only a new project or big positive Government news can rally btc price up. Thereby causing other projects like ETH, Vechain, LEDU to move up in price too. Just giving my two cent.
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October 04, 2019, 06:24:32 AM
 #28

We don’t need FOMO, we need real use case, we need people to stop using speculations and FOMO to move the market up in value

I really need a situation whereby we will get to a certain stage that we will be using bitcoin as real currency, and this is what can sustain any value in the market, with FOMO and all that, it may actually become impossible for us to be able to retain any high value.

Whether we need FOMO isn't the question. It's just a natural byproduct of strong bull markets. It's inevitable. If Bitcoin's price is rising, you will always see speculators chasing those gains. And considering Bitcoin's overall fundamentals as a monetary instrument and its very limited supply, it's bound to keep rising.

So learn to love the FOMO. It's not going anywhere.


Plus learn to buy the dip, and HODL before the FOMO. It's going to start happening next when the plebs don't expect it.

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October 04, 2019, 11:19:00 AM
 #29

i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?
This is a great way of thinking during a bear run but it is not something we can prove in any way at all.

Surely when the weak hands are flushed we can say that bitcoin right now is held by people who actually believe in it (and traders) but that doesn't mean it will continue to go up, first we need to make sure the whales who are trying to make money doesn't sell.

Maybe "weak" hands are gone but the whales are not and they can still buy a million dollar worth short futures and then sell 10 million dollars worth of bitcoin all at once and make a ton of money thanks to leverage as well. Hence we are not certain right now, does the future look brighter for bitcoin? Sure, it does but that doesn't mean it will certainly be better, it just means it is "probably" better.

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October 04, 2019, 03:18:07 PM
 #30

Surely when the weak hands are flushed we can say that bitcoin right now is held by people who actually believe in it (and traders) but that doesn't mean it will continue to go up, first we need to make sure the whales who are trying to make money doesn't sell.

you forgot about another group, an important and powerful group actually. the traders who sold before the drop or when it was starting to happen and are now waiting for the "signal" which would be any kind of rise above a certain level before these people put that money they got out, back in.

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October 04, 2019, 04:10:47 PM
 #31

Yeah, the market is really building up for another breakout possibly close to $15K. $20K is not happening anytime soon until after the bitcoin halving in May 2020 i guess. Anyway, i don't really see the levels of $5k and $6k happening lol...that would be hell for some folks Grin
If Bitcoin manage to hit $8k after that $10k stable price then there could be a possibility that it would go down to that support level. If it would hit $5k-$6k then it might be the momentum that we are waiting to happen to finally break another resistance levels. But I'm not sure yet on when would that momentum going to start to see the targeted $20k.

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October 04, 2019, 08:24:51 PM
 #32

i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?
Surely after the drama ends we would see or hear a lot of people regretting on not investing while it was low or something like not holding on to their crypto.
But I agree with you I think after this drop we could see a big batch of money going to enter again and pretty sure those weak hands that sold their bags would try to get it back again.



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Rainbot
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October 05, 2019, 06:15:29 AM
 #33

i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?
Surely after the drama ends we would see or hear a lot of people regretting on not investing while it was low or something like not holding on to their crypto.
But I agree with you I think after this drop we could see a big batch of money going to enter again and pretty sure those weak hands that sold their bags would try to get it back again.

We can let them regret what they choose because I am sure that we already suggest them to buy bitcoin or the other coins, but they don't want to listen to us. There will be many more of them who will regret it, and there is nothing they can do except accepting that they cannot buy bitcoin at that time because bitcoin price already increases so high. But they still can buy any coins which don't have a high price, and they will need to wait for a long time to see the price will increase. I think the market now still trying to rise, although it's not too fast. And I think people are still coming to the market and buying bitcoin and the other coin before all of the price increase higher.



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AliMan
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October 05, 2019, 07:44:47 AM
 #34

i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?
Surely after the drama ends we would see or hear a lot of people regretting on not investing while it was low or something like not holding on to their crypto.
But I agree with you I think after this drop we could see a big batch of money going to enter again and pretty sure those weak hands that sold their bags would try to get it back again.

Exactly there could be some possibilities that those people who made a wrong move could buy back bitcoin, and hold it back again. For sure, upon the recovery point of bitcoin price will suddenly have another increasing trend. There's no certain time allocated, but it was already an history.

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October 26, 2019, 04:04:51 PM
 #35

and sure enough, it took about 25 days and a final 10% drop down to $7200 to kick start the FOMO. and this was a big one too. from $7200 up to $10300 is a $3100 or 43% FOMO rise and it was nearly the same thing i was expecting. nearly because i was expecting the price to stay above $10k but instead it came to $9k level again.
i am now curious to see how this follows up in the coming days.

for now the fascinating FOMO is visible on the charts:


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