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Fundstrat’s Tom Lee Claims: We Are Currently at Highest Level of FOMO
Tom Lee, the founder of analytical firm Fundstrat who also happens to be a major Bitcoin bull, has just announced that we had reached the highest level of FOMO (Level 10). According to Lee, we may see some fireworks this week.
#bitcoin has acted very differently since crossing above $10,000–a level we defined as Level 10 FOMO as it only represented 3% of historical days.
— Thomas Lee (@fundstrat) July 4, 2019
This week we may see #fireworks for $BTC ????? https://t.co/FgHReyMLLH pic.twitter.com/NwOKnBnL7l
Alex DovbnyaThe time has come
As reported by U.Today, BTC crossing the $10,000 mark would trigger the highest level of FOMO.
Overall, Fundstrat has defined ten levels of FOMO. Notably, the “full-blown” degree of FOMO represents only 3 percent of Bitcoin’s lifespan.
Reaching $10,000 during this bull run would be the equivalent of BTC hitting $4,500 in 2017.
While Lee is not always spot-on with his price predictions, he hit the nail on the head with this one. Right after entering the five-digit territory for the first time since January 2019, it triggered an enormous level of volatility.
Yuri MolchanA new ATH is likely
On June 26, the BTC price reached its yearly high of $13,888 only to shed more than $2,000 in a matter of minutes.
From that point, Bitcoin continued seesawing – the price quickly recovered after going below $10,000. At the time of writing this article, it is trading at $11,699.
If history repeats itself, BTC could print a new ATH after its most recent 30 percent pullback.
$BTC: We had our 30% pullback so what's next?
— Josh Rager ? (@Josh_Rager) July 3, 2019
History says that price consolidates followed by an average gain of 153% before the next big pullback
There are great rewards for buying pullbacks in a bull market
My original tweet on this here:https://t.co/n6TeXJJDbn pic.twitter.com/TbjqsJH8bX
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
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