[0224] Bitcoin Market: 'Double FOMO Effect' for 2018 Bull Run

The tide has turned in the crypto markets. The sentiment is different compared to what it was just 2 weeks ago.

After Bitcoin had its pump last Wednesday, the market has stabilized to a new level. Word around the traps suggests that many crypto investors hedged out into Bitcoin because of the still falling Altcoins. Trading their alts for a rising Bitcoin.

With Bitcoin dominance high, it would suggest that everyone is betting on a rising Bitcoin before the altcoin boom.

Looking at the markets now, I would say that we are just a couple of weeks away from a upwards move in the market. There is pressure there and the current low prices just won't stay that way. It's an 'all aboard' moment.

If I had to guess, we are going to see Bitcoin move pretty quickly to 20k and then decide what to do next. Bitcoin has already been there so I think we may see it at 20k by Octobers end. Which is in alignment with my psychology-based predictions that I made back in February on the blog.

Of a downtrend until late May, a flat June and July and a massive spike in September and October. I must dig up the actual quote because I was right.

So I see that a quick 20k is on the cards and a continuation of the market from where it left off in January. To me, the bear market was like putting the market on pause until all the regulatory framework was put in place. Thus giving confidence to professional investors and big institutional money who require that legal framework.

Now that that is largely been put in place and we know where the US stands, we can have the stable bull run that failed in January.

The other thing I see in my crystal ball is a 'double FOMO effect', whereby newbies, talking heads and investment pundits who thought bitcoin was dead will be shocked that it has returned from the grave. And anyone who lost faith in the price of bitcoin because they bought high may take another bite of the cherry, a little older and hopefully more wiser.

August will be a slow incline but September and October will be the hype train as per December and January. Which may mean that the market peaks earlier than last year before the inevitable correction.

Thanks for watching,

Brendan Rohan - Indie developer of 'next gen' natural medicine from Melbourne, Australia

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