Bitcoin FOMO is Strong But The Bears Will Not Go Quietly

[AMANPURI OFFICIAL INDONESIA]

As Bitcoin breaks significant resistance at $6,000 and $8,000, all within the space of a week, interest is reaching fever point. But despite the strong performance, which some say is buoyed by economic uncertainty over the US-China trade war, there are those among us who remain skeptical.

Bitcoin FOMO
An impressive week for cryptocurrencies saw Bitcoin break the $8,000 mark on Tuesday. Up 120% since the start of the year, this momentum is continuing to lead the rest of the market into a bull run. Unsurprisingly, mainstream news outlets and everyday people are once again talking about Bitcoin.

In view of this, Bitcoin advocate, Thomas Lee of Fundstrat Global Advisors, believes no-coiners will FOMO into cryptocurrencies. Speaking to CNBC, he said:

“There have been positive developments, including some of the announcements coming out of Consensus, like the BAKKT launch and merchants starting to accept Bitcoin. But, what’s getting investors quite optimistic is that, now Bitcoin is approaching that $10,000 level, I think there’s an increasing chance that traditional non-crypto investors are going to start looking at crypto again.”

Lee went on to talk about the importance of getting new investment into the space. Which he believes will be the key catalyst for pushing prices back towards all-time-highs.

All-Time-Highs
Thomas Lee has continually pushed bullish sentiment, even during the height of crypto winter, which saw Bitcoin lows of around $3,200. And as each day passes, it looks more and more certain that we have finally left the bear market behind. Part of the reason behind the upswing may relate to economic uncertainty caused by the US-China trade war, which Lee mentioned in the CNBC interview.

Last week, Trump announced a tariff hike on Chinese imports from 10% to 25%. This move was the culmination of months of political wrangling, which only served to strain already tense relations.

more complete: https://www.newsbtc.com/2019/05/17/bitcoin-fomo-is-strong-but-the-bears-will-not-go-quietly/