As opposed to Adam Samson’s opinion, new brief surfacing shows that the real FOMO will set in when the price of a bitcoin (BTC) exceeds the current all-time high.
Adam Samson’s Earlier Suggestion
According to an analysis shared by the global head of Financial Times, Adam Samson, the analysis revealed that the market is about to experience a level 10 FOMO (full-blown FOMO) if the price of bitcoin crossed the subjective level of $10K mark.
At the time, bitcoin was just passed the $8K mark, heading towards $10K.
We are apparently headed straight for LEVEL 10 FOMO in the #bitcoin market (via @fundstrat) pic.twitter.com/YzFkrazWz2
— Adam Samson (@adamsamson) May 29, 2019
Also in confirmation to Samson’s statement while commenting on the report, another analyst by the name @Bitcoin_Brian on Twitter believes that the $10K price point could bring about a lot of media hype which will cause some incredible level of buying pressure; driving the price of bitcoin straight to its all-time high of about $20K.
$10k could lead to media boom and hype cycle. That is where I would expect to see the FOMO. Right now looks like HODLers accumulating.
— Brian C (#HODL) (@Bitcoin__Brian) May 29, 2019
How Adam Samson’s Prediction Played Out
Without a doubt, crossing the price level of $10K came with a lot of noise by both the media and investors.
Some believed institutional investors had played a big role in driving the price up, while another school of thought believes those already invested have come to the realization that the bear market is over, therefore, investing for more gains.
And yet another set thanks Facebook for making lots of people and organizations come to the realization of what cryptocurrencies are, thereby investing in bitcoin.
Not $10K but $20K
Though the new research suggests another price level for FOMO, it doesn’t totally displace the significance of crossing the psychological level of $10K.
The crypto analyst by the name CL, who shared the new report thinks crossing $10K was the beginning of a bull run and bitcoin has now entered a “Stealth Phase”, according to him.
What Changed Since The Last Bull Run
Many believe this bull run will be nothing compared to that of 2017. This is based on the fact that they’ve been more exchanges in existence, and the number of bitcoin wallets created has grown exponentially among many other things that will be a driving force for sending the price of bitcoin to the moon.
The post Bitcoin: Real FOMO Will Set In At $20K Not $10K appeared first on ZyCrypto.