Bitcoin closed above $9,4000 on traders’ fear-of-missing-out (FOMO) sentiment over halving.
But Morgan Stanley’s risk management head warned that FOMO is “not a good sign.”
The veteran recommends investors and traders to make a more defensive portfolio as the extent of the market damage remains unknown.
Bitcoin briefly closed above $9,400 in Wednesday’s trade as traders anticipated extended gains ahead of halving.
The benchmark cryptocurrency peaked at $9,424 on BitMEX before correcting lower by 4.41 percent in early Thursday trading. The seesaw price movements suggested traders’ inability to open new long spot positions above $9,500. Nevertheless, bitcoin maintained weak support above $9,000, keeping the upside hopes alive.
The bullish sentiment borrowed fat from Bitcoin’s mining reward halving on May 12. The event will see a pre-programmed algorithm slash the cryptocurrency’s daily supply rate by half. Traders believe that a decreased supply would lead miners to sell bitcoin at double the price to cover their operational expenses.
Source: Twitter
The halving craze has, thus, fueled a new bitcoin rally. Traders are getting into the market in anticipation of making short-term gains – and also because they fear missing out on the significant upside swing.
Not a Good Sign
The latest gains in the bitcoin market followed a historic plunge in mid-March, wherein the cryptocurrency’s rate crashed from $8,000 to below $4,000 overnight. Nevertheless, the Federal Reserve’s vast and expanding stimulus program helped bitcoin and every other fallen market recover smoothly, even against the toll of economic damage caused by the Coronavirus pandemic.
Andrew Harmstone, head of global balanced risk control strategy at Morgan Stanley, said that the relief rallies across the traditional and emerging markets surfaced because investors denied the “damage that’s actually been occurring to the global economy.”
“The fear … of missing out, or another term for that traditionally has been greed, right? It is definitely playing a role in the current market,” the veteran explained to CNBC.
The veteran noted that volatility in markets like that of bitcoin and equities remains very high. It poses risks to those greedy investors who want to believe that easing Coronavirus restrictions would bring everything back to normal. But in reality, the next phase will see companies going out of business because of no business activity.
Bitcoin Awaits Pullback
As Bitcoinist reported earlier, lower corporate earnings in the foreseeable financial quarters could lead the U.S. stocks lower. Meanwhile, investors losing money on Wall Street could use a much profitable bitcoin to cover their losses, thereby deleting the halving FOMO rally.
A pullback looks likely to happen even according to bitcoin’s technical indicators. The cryptocurrency’s momentum indicator, RSI, shows that it is holding its gains in an overbought area. At the same time, the price is testing a long-term Descending Trendline as resistance.
BTCUSD tests key technical resistance for a breakout/pullback | Source: TradingView.com, BitMEX
The bearish confluence suggests that bitcoin could soon correct lower as traders start selling the local top, with its next downside targets at $9,000, $8,500, $8,200, and $6,300.
Photo by Kelly Sikkema on Unsplash origin »
Bitcoin rebounds to $108K as whale activity and retail FOMO fuel bullish momentum.
Sentiment spikes into the greed zone, but technicals warn of potential short-term correction ahead.
BitcoinThe post Bitcoin's $108K breakout: Is retail FOMO driving the market? appeared first on AMBCrypto.
Bitcoin made headlines after rising to a new yearly high of $18,500 on Wednesday, November 18th. As market participants appear to be entering a state of FOMO, on-chain data reveals that there is more room to go up before a correction materialises.
The third Bitcoin (BTC) halving will be the first to occur within the blockchain mass adoption period. That's why the 'fear of missing out' (FOMO) will be strong.
By CCN: Bitcoin’s run higher is igniting a wave of fear-of-missing-out (FOMO) among those who gloated about the cryptocurrency’s imminent demise. Fundstrat Co-Founder Tom Lee recently took time to engage with crypto Twitter now that bitcoin’s price has rebounded considerably.
Bitcoin [BTC] and the fear of missing out [FOMO] has been a tryst for the ages. Ever price rally has been accompanied by waves of speculators chiming in, fearing losing out on a chance to capitalized as the top cryptocurrency defied expectations, this current rally is no less, and exhibits a contagion of FOMO.
Bitcoin price has gone parabolic. The past week saw its value go up nearly a whopping 40 percent. But is it now time for a blow-off top or full FOMO to the moon? Let’s take a look. Bitcoin The World’s Best Performing Asset of 2019 Bitcoin price has made the naysayers look foolish once again.
Bitcoin price has gone parabolic. The past week saw its value go up nearly a whopping 40 percent. But is it now time for a blow-off top or full FOMO to the moon? Let’s take a look. Bitcoin The World’s Best Performing Asset of 2019 Bitcoin price has made the naysayers look foolish once again.
By CCN: Augmento is an artificial intelligence platform that analyzes trends and data to “augment human decision-making. ” The firm posted the results of its look into the bitcoin bear market today with an eye toward determining if crypto winter is truly over.
Shorts getting squeezed as BTC retakes $6k FOMO Incoming if BTC push up from $6k says crypto trader Bob Loukas But not before a drop to low $4k’s says another trader Bitcoin has finally surpassed $6,000 hitting not just the yearly high but the highest level in 6 months. In these past few months, the […]
Everyone in the crypto market is excited about Bitcoin reaching new all-time highs in the future, but Coin Stats seems that it cannot wait for it to happen. The cryptocurrency portfolio website experienced an issue with the data it gathers and it sent a notification to users saying that the price of Bitcoin surged more […]
Institutions are already putting their money in crypto space and per Fidelity's latest research, even more, are expected in the next few years. Now, a huge proportion of high net worth individuals are also unaffected by the charm of the leading cryptocurrency.
Crypto markets lethargic on Monday morning; Bitcoin holding steady, Ontology dumping, IOTA mooning. Market Wrap Crypto markets are still pretty lethargic this Monday morning. Following a weekend of inactivity things still have yet to wake up for most crypto assets.
Crypto markets starting to surge; Bitcoin breaks resistance, Cardano cranking, Tezos climbing and DigixDAO getting fomo. Market Wrap As the week progresses crypto markets are looking stronger. Bitcoin is pulling them all up as it breaks through resistance to form a new 2019 high.
Cryptocurrency prices, which have seen a significant increase since the beginning of April, have again awoken FOMO emotions in the crypto space. If you’d like to know how much profit you would have made if you’d bought certain coins right before the spike, there’s a simple tool that will perform the remorse-inducing calculation for you.
Bitcoin To Crash To $2,000, Claims Trader It isn’t a secret that over recent weeks, traders across the board have been subject to intense FOMO and widespread euphoria. The fact of the matter is that.
Crypto markets pulling back sharply; Litecoin, EOS, Bitcoin Cash and SV getting smashed, Crypto. com gets fomo. Market Wrap As expected crypto markets are finally dumping as we end the week. Over $16 billion has been lost as markets fall from their 2019 high back to $170 billion or so.
Bitcoin’s price took a huge leap on 2 April, 2019 after it jumped from $4,173 to $4,800 in an hour, and from $4,641 to $5,121, in the succeeding price candle. This surge in price caused a buying frenzy, a FOMO that raised the market cap of the cryptospace by billions over the next few days.
Twitter-бот, который отслеживает эмиссию стейблкойна USDT, сообщил о выпуске более 2 млрд новых монет. Пользователи уверены, что это может серьезно изменить стоимость цифровых денег — увеличить ее в несколько раз или обрушить.
The cryptocurrency industry gets older but does it get any wiser? Green candles have begun popping off across the board for the first time in a long time and suddenly it feels very 2017, complete with all the greed, FOMO, and manipulation that was synonymous with that era of excess.
Over a decade after Bitcoin was launched, the world’s first non-trust based money is breaking out of yet another bear market cycle. Let’s look at a few reasons why it may be a good idea to buy even a small fraction of a bitcoin before the FOMO (fear of missing out) kicks in.
Инвестиции в альткоин дали доход, который на Уолл-стрит можно заработать лишь за несколько лет. Bitcoin Cash стал абсолютным лидером роста среди альткоинов с капитализацией выше 1 млрд долларов: за семь дней он прибавил 50,47%, поднявшись до 253,77 доллара.
The naysayers said it wouldn’t last. The public’s interest over the last 12 months dwindled along with the price. But now BTC is leaping into the green again, there are signs of FOMO setting in.
Bitcoin is primed for a bull run to $7,000 later this year, says a major global asset management and financial advisory company in comments early Tuesday morning. DeVere: Crypto Winter is Over & Bitcoin Will Boom Nigel Green, founder and chief executive of DeVere Group, a $10 billion financial advisory and wealth management firm for high net worth individuals, says crypto winter is over: “I’m now calling that the market has bottomed and the so-called crypto winter has come to an end.
Bitcoin (BTC) has fallen over 80% in more than a year even when most of the individuals were expecting it to keep growing in the future. Back in December 2017, Bitcoin was traded close to $20,000 and the market was experiencing FOMO (fear of missing out).
Crypto markets have not tumbled further into the digital abyss as many had predicted. Instead they have made a slight rebound from Sunday’s epic dump in which $17 billion left the space. Total crypto market.
It isn’t a secret that millions, if not billions of dollars fled the crypto asset markets in 2018. Blockchain projects liquidated hundreds of millions worth of Ethereum (ETH) from the initial coin offerings, while common Joes and Jills, many of who caught FOMO in late-2018, liquidated their Bitcoin (BTC) holdings in search for greener pastures.
Bitcoin’s highly publicized meteoric rise to its all-time high of $20,000 in December 2017 was a classic bubble cycle at its peak. The media attention and hype from individuals talking about the crypto on social media and in social circles sparked FOMO (fear of missing out) in retail investors who eventually got burned when the.
FOMO Moments Crypto markets immobile on Sunday; Litecoin leading, Cardano recovering. There has been another slight pullback on crypto markets this Sunday as a range bound channel starts to form.
FOMO Moments Cryptocurrency markets retreating a little this Friday; Bitcoin Cash, SV and EOS falling back, Tron static. There has been a slight pullback on crypto markets today and further upward momentum could not be maintained.
In late 2017 when the price of bitcoin and other digital assets embarked on a journey to the moon and FOMO swept across the crypto space, Viswanathan Shankar, the CEO of Gateway Partners Limited, a Cayman-based private equity firm that invests in growth opportunities across a number of continents reportedly warned investors to “steer clear” from cryptos.
FOMO Moments Crypto markets moving slowly higher; Ethereum leading, Iota, Monero and Maker doing well. Crypto markets have continued their slow march upwards for another day. Gains are minimal but digital currencies are gaining at the moment as total market capitalization stays above $130 billion.
FOMO Moments Crypto markets lethargic on New Year’s Eve; Bitcoin Cash sliding as usual, the rest immobile. Crypto markets have remained inactive on the final day of 2018. There has been very little movement in any of the major cryptocurrencies as total market capitalization remains just below $130 billion.
FOMO Moments Crypto markets retreat after yesterday’s gains; Bitcoin Cash sliding back, Ethereum holding ground. Another day, another pullback. Yesterday’s big $10 billion pump could not be sustained and markets have retreated again this Sunday.
FOMO Moments Crypto markets rebound again; Ethereum and Bitcoin Cash surging, EOS and Litecoin following. The volatility appears to be creeping back into crypto markets with a dump one day followed by a pump the next.
FOMO Moments Cryptocurrency markets still falling; Bitcoin Cash hammered again, BSV and Nem close behind, only DEX rising. The crypto dump has continued and markets have retreated again this Friday.
FOMO Moments Crypto markets still falling; Ethereum, BCH and Cardano dropping, Eternal Token gets epic pump. Things are in decline again in crypto land as the selloff continues and the recent rally unravels.
FOMO Moments Crypto markets recover a little from Christmas crunch; Bitcoin Cash, climbing, Polymath pumping. The Christmas crypto selloff did not last long and markets have already found support and begun to rise again.
FOMO Moments Crypto markets crumbling at Christmas; Bitcoin Cash, SV and Ethereum losing all recent gains. The Santa rally came to an abrupt end a few hours ago when crypto markets started dumping with vigor.
FOMO Moments Crypto markets retreating this Saturday; Bitcoin Cash, SV and Waves getting bashed, Tron still afloat. It was to be expected, the start of this weekend has seen the beginning of a pullback from five days of solid gains for cryptocurrency markets.
FOMO Moments A rare green Friday for crypto markets; Bitcoin Cash and SV are on a charge, Tron and Iota following. It makes a change to see markets in the green on a Friday. The crypto rally that started on Monday has continued throughout the week and it has ended on a high.
FOMO Moments Crypto markets still on the up; Waves and Bitcoin Cash are flying, Tron and Iota following. Following yesterday’s long-awaited crypto market pump things have continued rising for a second day adding another $7 billion into the digital currency pot.
FOMO Moments Crypto markets dump to new lows again; Bitcoin Cash, SV, nearly dead, Litecoin surviving. As predicted yesterday crypto markets have dumped to a new low during intraday trading. A minor recovery during the week could not be sustained and total market capitalization has fallen to a new low of $101 billion a few.
FOMO Moments Cryptocurrency markets in predictable pain as the week ends; Bitcoin Cash, SV, getting killed, Stellar not far behind. As if scripted by some kind of delirious director, crypto markets are dumping again this Friday.
FOMO Moments Crypto markets are still in decline; Bitcoin Cash, SV, still dropping, Tezos bounces back. Crypto markets are still on the floor today as there has been no sign of even a minor recovery.
FOMO Moments Crypto markets are still falling; Bitcoin SV, Stellar, and Iota in pain, Binance Coin staying afloat. The bears are still exerting their control over crypto markets as the downward slide continues.
FOMO Moments Crypto markets are sliding again; Bitcoin SV, EOS, Monero and Tezos getting hit. Crypto markets are turning south again as minor gains get wiped out. Total market capitalization dropped below $110 billion during the morning’s Asian trading session as red dominates the charts at the moment.
FOMO Moments Cryptocurrency markets are still on the floor; tiny gains for most altcoins, BTC dominance climbs. There has been a little recovery since Saturday’s all time low for the year but nothing significant.
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