FOMO Is In High Swing
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FOMO or Fear on Missing Out Seems to be in full swing.
I wrote the other day saying there was likely to be a retraction it just took about 24 hours longer. Now it seems like people are trying to buy on the falling knife again another huge mistake but one that new investors make all the time.
So far all of today has been a downtrend with small bumps back up but this trend most likely will continue for the next few days as there really is nothing new on crypto to really give it that boost.
While there is news of BAKKT launching and Fidelity opening up to institutional investors in a few weeks that has yet to happen so right now all that buying power has simply been a move out of altcoins with some additional market cap. But there really is not much to back it up.
I feel like the next 2-3 weeks will be a steady retraction and then we will get another mega boost once Fidelity and BAKKT get closer to launching and then actually DO launch.
We should all know by now saying one thing and then actually DOING IT is a big gap here in the crypto world but that goes with anything in business and stocks really.
Over the next 72 hours these might end up being good buy in points.
As always this is for entertainment purposes only and is not financial advice. Always do your own research before investing.
The other bit of news that was helping the markets was a rumor of Ebay going to add bitcoin. This is NOT happening nor is it being worked on. (Plus seriously do people still use ebay ?)
I have friends that I got into Crypto that did well in 2017. But then got out over 2018. Some of these were asking me about when to get back in. I said NOW (at about $3400) . They did not, and in the last few weeks I keep getting messages from them including today. "I should of listened, should I buy at 8k?"
@bitcoinflood, Yes, these kind of rise will raises the FOMO too. And after sometime they question their decisions because they bought for higher prices.
Most importantly right Knowledge is important because people who lack knowledge can take foolish decisions like, putting their everything into Crypto. Let's spread the knowledge, but this journey is full of excitement.
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It feels like that is why its holding over 8 k because its tried to sell off a few times today lol there is no news behind it to make it rally right now.
Whatever it is, this space hold ingredients for all moods. Have a blessed time ahead.
Altcoins will increase soon.
Fidelity and bakkt stocking up on bitcoin now to dump on the retailers 😂
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steadily watching
The dynamic is too much capital and too little supply as those who bought are not selling! This could go much higher before a significant pullback!
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"On the other hand, buyers are eager to find sellers so that they can buy low and sell high." hmm this guy is smart, im going all in.
What about the Microsoft announcement that they will be using the bitcoin chain in the future, do you think that is having an impact now as well?
When to buy and when to sell is I think the best entertainment for todays crypto run! This pump is probably a preparation for bigger down trend.
This is something to think about:
