HOME CATEGORIES WRITE AND EARN 🔍
CATEGORIES WRITE AND EARN MORE

CRYPTO NEWS

Your favorite crypto news blog

Powerful Retail Crypto FOMO Spikes As Institutions Take Pause

Crypto 2020/05/19 18:00 by Tony Spilotro
Bitcoin price is trading just below the key price of $10,000 said to be a FOMO trigger for a major crypto bull rally, but retail FOMO is already spiking according to data. However, as retail interest spikes, institutional interest is down. Can retail FOMO be enough to spark another bull market, or are institutions necessary for the bigger push? Retail Buyers Drive Recent Crypto Rally, While Institutions Wait For Breakout Bitcoin price is at yet another critical junction. The crypto asset’s block reward halving is now in the past, yet the insanely bullish impulse that was expected has yet to happen. The combination of surging interest surrounding the halving along with low prices as a result of the Black Thursday crypto market crash caused a spark in retail buying. Coinciding with all of this, the US government began issuing stimulus checks to individual taxpayers. Some of this money, made its way into Bitcoin and other crypto assets, according to Coinbase data. Related Reading | Bitcoin Expert: Mentally Prepare, $10,000 May Take Another 100 Days To Break  Data showed an immediate uptick in Bitocin purchased of $1,200, the exact amount of stimulus that was issued at maximum. Since then Bitcoin price has been on a steady climb and has found itself retesting $10,000 once again. Thus far, the leading crypto asset by market cap only was able to hold above it briefly before it was rejected. But even after repeated crashes, Bitcoin price is right back up under high timeframe resistance once again and appears to be poised to take it out for the final time. FOMO kickin' in hard.#Bitcoin #CME #COT pic.twitter.com/gbUpxu6nEF — Livercoin (@livercoin) May 19, 2020 Can Retail FOMO Push Bitcoin Price From $10,000 To $20,000 Once Again? Data shows that retail FOMO is only growing further as Bitcoin price climbs higher. And while institutional interest from the likes of Paul Tudor Jones helped the crypto asset grow from lows, interest from that subset of investors has vanished. But retail FOMO may be more than enough to take Bitcoin price to a new all-time high. Natural bottoming and a crypto bear cycle ending caused Bitcoin prices to rise in late 2016, then in early 2017, it turned to FOMO. FOMO eventually turned into feverish panic-buying of Bitcoin and altcoins at any price, causing a bubble to inflate. Related Reading | Chartered Market Technician Claims Crypto Poised For Strong Uptrend In November 2017, BTC was trading at $10,000, and just a month later spiked to $20,000. Now that Bitcoin price is back at the key level, could another breakthrough of resistance cause yet another immediately spike to retest all-time high? It’s possible. Due to that asset’s low supply and illiquid market, any surge in demand causes valuations to skyrocket. That’s exactly why when Bitcoin does rally, it grows parabolically until that momentum runs out. For now, any momentum is being driven by retail FOMO, and they just might push Bitcoin price back to a new all-time high.

0 Like(s)



You should also read...

Bitcoin 03/04/20 21:30 by Tony Spilotro
Current Bitcoin Buy Pressure Dwarves Early 2020 Rally to Over $10K
Bitcoin price may be trading as much as 40% lower than it was at the start of they year, but the low prices are causing significantly more buy pressure in the cryptocurrency market than the massive ea...
Read More
Bitcoin 04/08/20 22:00 by Tony Spilotro
Bitcoin Is Bullish, But A Breakout Won’t Arrive Until 2021: Here’s Why
After months of consolidation, Bitcoin broke free from a tight, boring trading range and continued the uptrend that began in early April. Despite the cryptocurrency turning from bearish to bullish, a ...
Read More
Bitcoin 20/11/20 17:32 by Tony Spilotro
Bitcoin Approaches Price Discovery, All-Time Highs After Touching $18,800
Bitcoin price still continues to climb despite seven solid weeks of positive price momentum. Whether or not the cryptocurrency has already returned to price discovery mode or not, is debatable. But ev...
Read More
Bitcoin 01/12/20 08:10 by Nick Chong
Bitcoin Trends on Twitter Amid Mass Media Coverage Around New ATH
Bitcoin just hit a new all-time high on top exchanges such as Binance and Bitstamp. This was marked by an influx of retail interest in the cryptocurrency, as many mainstream media outlets reported on ...
Read More
Bitcoin 05/12/20 02:00 by Tony Spilotro
Recent Bitcoin Breakout Barely A Blip In Coinbase Volume, But What Does This Mean?
Even those who have been around the cryptocurrency space for some time are still in disbelief over how fast Bitcoin rose from $3,000 to setting a new all-time high in the same year. But despite what t...
Read More