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Fundstrat’s Tom Lee Claims: We Are Currently at Highest Level of FOMO

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Thu, 4/07/2019 - 6:19
Fundstrat’s Tom Lee Claims: We Are Currently at Highest Level of FOMO
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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.

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Peter Brandt: 'We Are Still in the Bull Market'

The 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.

Related
Bitcoin May Collapse Soon, Research Says

A 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.

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