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Bitcoin FOMO May Start After $10,000

News
Sat, 02/08/2020 - 19:51
Vladislav Sopov
The third Bitcoin (BTC) halving will be the first to occur within the blockchain mass adoption period. That's why the 'fear of missing out' (FOMO) will be strong.
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Fear of missing out, or FOMO, is a kind of social anxiety characterized by the desire to continuously stay connected with what others are doing. For the newbies of crypto markets, this feeling may result in ill-conceived buying. Crypto trader Michael van de Poppe is sure on when the next wave of FOMO may occur.

Mass Media Waiting for Five-Digit Prices

Mr. van de Poppe predicts that the $10,000 level for Bitcoin (BTC) will result in journalists having to write about Bitcoin. In turn, this may cause a huge FOMO reaction.

Image by Twitter

Not only will the Bitcoin halving will affect the price, but it will also act as a narrative used by the media to attract the attention readers. It may result in pre-halving euphoria and the possibility of a bull rally.

Related
Bitcoin (BTC) Halving Is Coming, Only 100 Days Left

Mr. van de Poppe also recalled that in 2016, prior to the second Bitcoin (BTC) halving, a similar process started only five weeks beforehand. In terms of the upcoming halving event, this period will start in the early days of April, 2020.

Is It Priced In?

Mr. van de Poppe insists that the halving isn't priced in, and probably won't be. This means that the market hasn't incorporated the data about possible Bitcoin price moves attributed to the halving.

Related
Tuur Demeester: Bitcoin (BTC) Halving is Not Priced In, Here's The Proof

Tuur Demeester, a top-tier investor, analyst, and founding partner of Adamant Capital, agrees with Mr. van de Poppe on this situation. He uses the Google Trends statistics to prove that investors are apathetic about this major event in blockchain world.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

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