Tom Lee, the founder of analytical firm Fundstrat who also happens to be a major Bitcoin bull, has just announced that we had reached the highest level of FOMO (Level 10). According to Lee, we may see some fireworks this week.
has acted very differently since crossing above $10,000–a level we defined as Level 10 FOMO as it only represented 3% of historical days.
— Thomas Lee (@fundstrat)
This week we may see for ????? https://t.co/FgHReyMLLH pic.twitter.com/NwOKnBnL7l
The time has come
As reported by InkByte, BTC crossing the $10,000 mark would trigger the highest level of FOMO.
Overall, Fundstrat has defined ten levels of FOMO. Notably, the “full-blown” degree of FOMO represents only 3 percent of Bitcoin’s lifespan.
Reaching $10,000 during this bull run would be the equivalent of BTC hitting $4,500 in 2017.
While Lee is not always spot-on with his price predictions, he hit the nail on the head with this one. Right after entering the five-digit territory for the first time since January 2019, it triggered an enormous level of volatility.
A new ATH is likely
On June 26, the BTC price reached its yearly high of $13,888 only to shed more than $2,000 in a matter of minutes.
From that point, Bitcoin continued seesawing – the price quickly recovered after going below $10,000. At the time of writing this article, it is trading at $11,699.
If history repeats itself, BTC could print a new ATH after its most recent 30 percent pullback.
: We had our 30% pullback so what's next?
— Josh Rager ? (@Josh_Rager)
History says that price consolidates followed by an average gain of 153% before the next big pullback
There are great rewards for buying pullbacks in a bull market
My original tweet on this here:https://t.co/n6TeXJJDbn pic.twitter.com/TbjqsJH8bX
