Bitcoin Rally: BTC Hitting $10,000 Will Reportedly Trigger Widespread Public FOMO
Yesterday, Bitcoin (BTC) and its parabolic run had people all over the crypto market shocked and excited as the most important coin in the market was able to smash psychological levels with ease.
NewsBTC says that there’s definitely FOMO in the air as the investors who have been waiting to buy BTC at lower prices (lower than $3,150) are not realizing that they missed the chance and they’re stuck buying the coin at higher prices.
The online magazine writes that at the important psychological level of $10k, the FOMO will spread into the public.
$10k, the catalyst for widespread public FOMO
At the moment the price of the most important digital asset is racing towards $8,000. BTC is priced at $7,962.03.
The online publication says that as the market realizes that the bulls may be back, there’s a strong sense of FOMO that has been spreading across the crypto space.
“But what has been seen so far will pale in comparison to a break of $10,000, which some believe is the important psychological price point that’ll cause the rest of the world outside of the crypto market to take notice of the leading cryptocurrency by market cap once again,” according to NewsBTC.
Fundstrat co-founder Tom Lee also believes that $10k is the price that triggers the FOMO from those who laughed at the BTC 90% crash and called the crypto dead forever.
At what price will see FOMO from those who gloated about 90% crash in $BTC?
Military term, SWAG (scientific wild-assed guess).
My SWAG is $10,000 is price that causes FOMO from those who saw #bitcoin as dead forever.
At what price do we see FOMO?
— Thomas Lee (@fundstrat) May 12, 2019
When BTC hits $10k people will fear that it will race again towards $20k leaving them behind and they’ll hurry up to invest.
The Bakkt blast
Yesterday, Bakkt updated people on both Twitter and Medium on the launch of Bitcoin futures contracts developed in collaboration with ICE Futures U.S. and ICE Clear US.
Bakkt posted on Medium: “User acceptance testing for bitcoin futures custody and trading planned for July.”
Yesterday was a huge day for the crypto space and more juicy things are expected to happen.
Andreas Townsend Author
I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.