Quote from: BrewMaster on October 01, 2019, 03:11:09 PM

i am always fascinated by the FOMOs that keep happening in bitcoin market. earlier this year i created two topics on two different occasions about it the small inital FOMO in first stage and another FOMO with a bigger leg up.

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

what do you think about the size of the upcoming FOMO? can we see a bubble in short term this time or will it be like last time (small just to kick start the rise)?

The thing is FOMO these days don't have much power in them as people are tooo worried about bitcoin to go down after a successive leg up. This is the reason why we don't see large pumps as we saw back in 2017. Because at that time most of the crowd had never thought of a bearish phase in bitcoin but now everyone thinks that Bitcoin has a reputation of a bubble. Currently i don't see any upcoming FOMO or any type of Bubble.

Quote from: exstasie on October 01, 2019, 03:26:38 PM

Quote from: BrewMaster on October 01, 2019, 03:11:09 PM

with the current situation where price has come down below the $10k support line and the fact that a lot of weak hands were flushed out, i am guessing pretty soon after the drama ended we are going to see another FOMO market shape up bringing in a lot of money like a tsunami. this time if the momentum could build up we could see $20k before the end of the year.

Could be. That's loosely been my outlook for the past couple months, up to and including this shakeout.

I was initially hoping this dip would end as a wick on the weekly chart, similar to the action in October 2013 or August 2016. Since we haven't seen a classic BTC capitulation bottom yet, I'm wary of getting too bullish. The final shakeout probably hasn't happened yet.

This guy has some interesting projections of how long this move could take. It could take months and we could see the $5,000s or $6,000s first. So my eyes are still set on $20K but I'm not sure when.

Really interesting idea seems like I have some work to do tonight. Studying these charts is going to be fun. He has some great set of charts which could take you way back the timeline.