- Price patterns favor a $20,000 bull-run by the end of the year
Yeah, that doesn't look like it's going to happen by the end of the year, although it is a good thing that bitcoin at least rebounded to $8500. I'm happy with that. Next year I'm hoping it does at least approach $20k and that buying picks up over the course of the year.
- There is a massive FOMO sentiment amongst crypto enthusiasts
There's no FOMO right now that I can see. That only happens when the price is shooting up, not when it's stagnating--which is exactly what it's doing now,
and it's stagnating after dropping a couple thousand dollars in value. If and when bitcoin starts to climb to $20k, then we'll start seeing some real FOMO, and as I've said before that isn't necessarily a good thing. That kind of fear leads to overinflated prices and potential bubbles.
Of course bitcoin's price is very unpredictable because of its volatility, but it's already October and I don't see any reason for such increasing in prise. Not this year. And when will that happen is anybodys guess.
Well, we're all guessing here--it's all we can do, since nobody I know has a functioning crystal ball. lol. But I agree that there isn't enough time left in the year, nor enough momentum for bitcoin to even get close to $20k.