The FOMO is back

It’s no surprise to anyone that it’s been a rough year for holders. Cliches like “cryptos take the stairs up, but the elevator down” ring all too true.

But it appears as though an inflection point has been reached. The dovish talks from Mr. Powell. The finally declining inflation numbers. Big deals between giants like Coinbase and BlackRock. The merge of course.

There were many negative catalysts that we all know about like Luna and Celsius which caused the price of BTC to briefly fall below 20k. But now the trending news seems to all be pointing in a positive direction. The media is out celebrating and creating an atmosphere conducive to risk on assets such as crypto.

There are many investing sayings and bits of wisdom that often indicate that the local bottom is probably in. Youtubers throwing out caution videos, social media warnings about 10k BTC, the average citizen being extremely fearful of crypto… all signs that the bottom is already in.

The average retail investor almost always misses the bottom from being too emotional, and is almost always late to the party. And crypto parties can start out of nowhere…

I believe that what has started as a classic “bear market rally” could easily become a prolonged uptrend. And those waiting on the sidelines for 10k BTC might just miss out on all of the biggest gains.