U.Today Franchise
F2Pool
0
📰 News
1034 views

Fundstrat’s Tom Lee Reveals Bitcoin Price Tag That Will Trigger FOMO

Put your
crypto to
work
  • 0.00

    Interest per week

  • 0.00

    Interest per year

  • 0.0

    Interest rate

Join Now!
Sponsored by Celsius.Network
  • Alex Dovbnya
    📰 News

    Even with the increased level📈📈 of volatility, Bitcoin looks tame compared to what will probably🔜 💲 happen if it hits $10,000

Fundstrat’s Tom Lee Reveals Bitcoin Price Tag That Will Trigger FOMO
Cover image via www.123rf.com
Contents

Tom Lee, the co-founder of research firm Fundstrat, says that FOMO is yet to kick in as the Bitcoin price is vying to smash the $9,000 target.

The prescient Bitcoin analyst claims has estimated that investors are expected to jump on the hype train once the BTC price reaches $10,000.

👉MUST READ

Bitcoin Price Will Drop to $500, Says Angel Investor from Uber

Bitcoin Price Will Drop to $500, Says Angel Investor from Uber

FOMOing in

Fundstrat has commented on a recent Fundstrat study that determined the levels of FOMO in the Bitcoin market (from Level 1 to Level 10).

Obviously, a higher price amplifies the fear of missing the boat, but it is worth noting that the crypto king ups the ante during every bull run.

Historically, the degree of FOMO mostly remained at bay. However, once BTC hits a certain price target (for instance, $6,950 in 2019), the so-called ‘baby’ level is reached, and investors reluctantly start FOMOing in.

After the BTC breached the $8,350 resistance level, it opened the door for a medium degree of FOMO.

The degrees of Bitcoin FOMO
Bitcoin is about to reach the level of FOMO, image by Fundstrat

👉MUST READ

Bitcoin Price Predicted to Hit $28,000 in the Short Term by Crypto Evangelist Max Keiser

Bitcoin Price Predicted to Hit $28,000 in the Short Term by Crypto Evangelist Max Keiser

A false equivalency?

Now, as Bitcoin in inching closer to exceed the psychologically important mark of $10,000, we can expect the highest level of FOMO that will make investors flock in droves to buy the soaring cryptocurrency.

Lee states that $10,000 in 2019 would be mathematically equivalent to $4,500 in 2017, which gives ground to speculations about enormous price gains (BTC reached its current ATH of $20,000 during the highly speculative rally).

However, there are those who are skeptical about this analysis with one user calling it “false equivalency.”

In this Telegram channel you’ll find fresh news, interviews, infographics, forecasts & other helpful stuff. Join U.Today's channel.

About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

Recommended articles
CLOUD MININGPromoted