As bitcoin price nearing $8000, analysts predict the upcoming price moment and the level of FOMO in the bitcoin market. Analyst and co-founder of Fundstrat, Thomas Lee says that the real FOMO probably start when Bitcoin actually hit $10000.
Thomas Lee, a.k.a Bitcoin bull while responding to the comment on the level of FOMO chart shared by Adam Samson, a journalist at Financial times, states that; “real FOMO” probably starts when #bitcoin exceeds $10,000.
Lee’s comment actually comes as the explanation to the Fundstrat’s chart on the degree of FOMO which Mr. Samson thinks Bitcoin’s price is headed for level 10 FOMO. However, according to Lee’s explanation, BTC is yet to reach $10000 & more, in his words;
Actually the point of the chart is to say “real FOMO” probably starts when #bitcoin exceeds $10,000 as that is a price level only seen 3% of all days…
…mathematically equivalent to exceeding $BTC $4,500 in 2017
Looking back, that price was a level that indeed triggered FOMO
— Thomas Lee (@fundstrat) May 29, 2019
Although the peak at the price of Bitcoin creates fear of missing out (FOMO) sentiment across the crypto market Lee’s view is that such highest figure is yet to come. Having said that one BTC at press time is equivalent to $8694 against the US Dollar which is short sees negative remarks of 0.23 percent over the past 24 hours.
However, since the past few months, specifically from April, Bitcoin’s significant value is influencing the price of other altcoins. Initially, it began the continuous surge when BTC crossed $5000 figure at the start of April – eventually, gripping the highest volume of over $8600 on May 30, 2019.
Do you think Bitcoin will hit $10k anytime soon.? What’s your take on Lee’s FOMO level prediction.? Let us know in the comment below
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Tabassum is a full-time content writer at Coingape. Her passion lies in writing and delivering apt information to users. Currently, she does not hold any form of cryptocurrencies. Follow her on Twitter at @Tabassumnaiz and reach out to her at Tabassum[at]coingape.com