FOMO Unbound! Did we just miss the Bitcoin bottom?

in bitcoin •  3 months ago 

There are many reasons to believe that Bitcoin has a chance to take off.

Many feel that the basis of this idea is the fact that paper money is going to collapse. The way the central banks are operating, inflation is simply a killer on the populous. Few realize the reasoning behind inflation. It allows governments to borrow large sums of debt while paying it back with dollars that have less purchasing power.

This is theft in many people's opinion.

Another fact in this is Bitcoin does not have any inflation passed the 21 million coins that are set to be distributed. The actual number in circulation will likely be closer to 17 million since many were lost. This leads skeptics to conclude there are not even coins to operate as money.

Bitcoin stages a major rally in the last month before pulling back.

The question is did we see the bottom for Bitcoin?

If we did, expect the pace of the rise to increase as FOMO sets in. This is something we witnessed in 2017 and could occur at a more fierce pace now.

Click on image to read full article.


Authors get paid when people like you upvote their post.
If you enjoyed what you read here, create your account today and start earning FREE STEEM!
Sort Order:  

There is so much talk of 1 million dollar Bitcoin, its just a self for filling prophecy now.

That is true! This time traveler story was the first step of this mindfuck. Lets see if it really will happen.

I also see a pull back coming to 6-7K, but who really knows... in 5 years it is hopefully much much higher!

People tend to forget that inflation of fiat money increase the price items constantly.

In my country (Argentina) happens something crazy, sometimes even when Bitcoin goes down, in my local currency it goes up.... And your comment is the exactly explanation.

The point is that if you don't experience in your own shoes what inflation really means, like people in Venezuela, Argentina or countries with high inflation rates, you're not going to understand it until it's happening in your own country.

i personally think pullback to $6500 is likely. Charts are showing signs of divergences (RSI, MACD, MOMENTUM). But this doesn't mean we're not in the raging bull market :)

Hey @finprep,

Your account is now 2 years old!

🎂 🎂 Happy Steemversary  🎂 🎂

Thanks for sticking around this long and believing in the future of this community.

My Steemversary is a smart bot that rewards active steemians on their account's anniversary. We use a bunch of tools to filter out inactive/blacklisted users and bots. Our goal is to gift these users a decent upvote. Please consider helping us grow by delegating to our bot [5SP10SP25SP50SP100SP500SP1000SPCustom Amount] or by simply upvoting this comment.

The bottom was at 3k ish? What do you mean? Or the bottom this week?

Maybe we lost our ticket to wonderland...

To listen to the audio version of this article click on the play image.

Brought to you by @tts. If you find it useful please consider upvoting this reply.

About 81.42$ has been spent to promote this content using Steemium.
Learn more here!

  ·  3 months ago Reveal Comment

You got a 35.59% upvote from @brupvoter courtesy of @steemium!

You got a 35.69% upvote from @joeparys! Thank you for your support of our services. To continue your support, please follow and delegate Steem power to @joeparys for daily steem and steem dollar payouts!

You got a 5.64% upvote from @minnowvotes courtesy of @steemium!

Congratulations @finprep! You received a personal award!

Happy Birthday! - You are on the Steem blockchain for 2 years!

You can view your badges on your Steem Board and compare to others on the Steem Ranking

Vote for @Steemitboard as a witness to get one more award and increased upvotes!