Bullish Crypto Market and Bearish Bitcoin Investors, a Recipe For FOMO


Predicting prices in the financial market could be a tough ask, as there is no certainty on what factors would lead to the next surge or dip. This case gets even more resounding in terms of Crypto space given the volatile nature of the markets, which can see the prices sore in double digits one day, and fall by the same margin the other.

This is the reason many prominent names refrain from making price predictions as it falls flat on most of the occasion.

But, the dilemma of Crypto investors are even more worrisome as they often wait for the next dip to arrive before making an investment, but that dip often never arrives and they miss out on the opportunity.

This the reason Bitcoin even though has been quite bullish throughout the year, the investors are clearly not. To give you a perspective, at the start of the year 2019 Bitcoin was trading at around $3,100 mark, but due to the longest crypto winter in 2018, they expected the price to go further down.

Most of the analyst believed that the market would remain bearish towards the latter half of the year and would reach a Max price point of around $10k mark. But, the bulls arrived as early as April 2nd when the whole crypto market made double-digit gains. The investors were hell bent that the wave of market correction would take the prices back to near $3k mark, well that never happened.

The market picked up the pace from then on, made notable gains, seeing almost 200% price surge from the start of the year with small corrections in between.

Bitcoin being the crypto King peaked above $13k towards the end of June, but a big market correction of over 30% brought the prices below $10k, but the bearish investors thought their predictions are finally coming correct and waited for the prices to go below $9k. Well, that didn't happen either as Bitcoin traded above $11k right after that.

Looking at the notion of these traders one analyst believes that the dip these traders are looking for might have already surpassed it under their nose, and they might have to buy it at a much higher price than they estimated in the fear of losing out. A Twitter user commented on the ongoing scenario stating,

“$BTC This poll shows the majority are sitting on the sidelines in cash, praying for a bigger pull-back to get in. The max pain scenario from here is up. And the people sitting on the sidelines will be the FOMO-fuel to new highs”

The max pain scenario that the analyst is talking about is referring to the investors constantly waiting for the next dip, even when the dip has passed or arrived. These investors would suffer great losses and definitely some pain once the eminent bulls arrive, and to make things worse the prices might sore even further due to over buying in fear of missing out on making big.

The analyst's comment came in reference to a poll conducted by the published author of the book called ‘ An Altcoins Trader Handbook” Nick Patel.

The poll results show that 59% of the participants were expecting the prices of Bitcoin to go below $10k mark again, while only 23% responded with a No, and another 18% simply chose to see what people have voted for. This means the actual number of bearish investors could be even larger than what the poll suggested.

Interestingly as per historical Bitcoin price movement data, a dip of 30% or more have been followed by a surge of 153%, which means Bitcoin could be well on course to breach it's a previous all-time high of near $20k.

If Bitcoin prices follow a similar trend, the new all-time-high could be around $24k mark, and if the FOMO kicks in which would lead these bearish investors to buy Bitcoin at unimaginable prices, the $24k mark could be well below the actual rise of Bitcoin.

Bitcoin’s price is $56,870.92 BTC/USD exchange rate today. The real-time BTC market cap of $1.07 Trillion currently ranks #1 with a chart dominance at 62.37%, daily trading volume of $18.88 Billion and live coin value change of BTC 0.28 in the last 24 hours.


Live Bitcoin (BTC) Price:

1 BTC/USD =$56,870.9240 change ~ 0.28%

Coin Market Cap

$1.07 Trillion

24 Hour Volume

$18.88 Billion

24 Hour VWAP

$56.68 K

24 Hour Change

$156.59

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