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FOMO is a powerful motivator
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@jondoe
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Fear and Greed in the Bitcoin market
Fear in the traditional sense is easy to spot.
It's when prices are tanking and going lower than anyone thought they would go. It's not a fun time to be long an asset during this time.
However, there is another type of fear, fear of missing out or FOMO.
We just entered the FOMO stage on the bitcoin chart:
(Source: https://twitter.com/100trillionUSD/status/1268828654546481153)
This means that we could very likely see a very large moving coming up in the near future.
Once we start moving up others pile in for fear of missing out and bam FOMO takes over.
The end result is a price that overshoots all the way up into the greed phase of the move.