Re: FOMO IS REAL

I agree FOMO is real. This is the reason why bitcoin price is quickly rising. They are afraid to be left behind and miss the profit when bitcoin price reach its peak.

Quote from: Wind_FURY on May 04, 2017, 04:03:36 AM

That is one nice of calling it. But all the same the price will fall not all because of speculative reasons but also because like in any economy, it expands and contracts. There is no escaping it, Bitcoin's price will fall, drop or "correct" itself. Call it whatever makes you feel better.

Definitely when price surge fast, the next thing will be correction or a sudden drop in price since those who bought before the rise will eventually cash-out and the cycle repeats.

If this price increase is caused by FOMO then does it mean there are big money whales out there who are moving the market because they are afraid of missing out? I find that hard to believe. FOMO usually works on altcoins where there are many uninformed and less intelligent "investors". Bitcoin's price movement is caused by something else, maybe.

FOMO works on all investors, sophisticated or "less intelligent". Bitcoin has been referred to as mass hysteria in the past.
Big whales do play a part, but what is happening now is all round buying.

But in Bitcoin I doubt it is only about FOMO. The volumes that the victims of FOMO usually give are small and not enough to bring the Bitcoin market upwards, unless there is a son of a billionaire trying trading for the first time.

The more sophisticated traders and investors are less affected by FOMO because they are already aware of it and they already have enough experience in the market.