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HODL FOMO vs. Speculative FOMO: Why This Bitcoin Bull Market Will Be Different
As bitcoin crosses $17,000 it’s not retail speculation but a new, long-term investor mindset driving the price up.
Oleh Nathaniel Whittemore
As bitcoin crosses $17,000 it’s not retail speculation but a new, long-term investor mindset driving the price up.
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Today on the Brief:
- Tesla to join S&P 500
- Airbnb files for IPO
- The Mooch wants crypto
Our main discussion: HODL FOMO vs. Speculative FOMO.
The 2017-2018 bull run was driven by ICO mania and a relentless get-richism that was nothing if not short-term. As bitcoin passes $17,000 and questions of looming all-time highs start to make their way into mainstream press, it is a very new set of actors and a new set of thinking that is driving this movement.
1/ HODL FOMO = Escape Velocity
— BRADY (@CitizenBitcoin) November 13, 2020
The 2017 run was driven by short term retail and trader speculation, a fear of missing out on fiat gainz.
This run will be dominated by fear of missing out on adoption of bitcoin as a reserve asset, by individuals, corporations, and even nations.
See also: Bitcoin at $318,000 Next December? One Citibank Exec Says It’s Possible
For more episodes and free early access before our regular 3 p.m. Eastern time releases, subscribe with Apple Podcasts, Spotify, Pocketcasts, Google Podcasts, Castbox, Stitcher, RadioPublica, iHeartRadio or RSS.
Note: The views expressed in this column are those of the author and do not necessarily reflect those of CoinDesk, Inc. or its owners and affiliates.
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Bitcoin Jumps to $99K as Spiking Coinbase Premium Points to Strong U.S. Buying
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Bilinmesi gerekenler:
- Bitcoin surged towards $100,000 on Wednesday's U.S. trading session, gaining 3.2% in the past 24 hours.
- The rally coincided with significant spot BTC price premium on Coinbase.
- Fed Chair Jerome Powell called bitcoin a competitor to gold during a panel discussion.
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