Topic: at 100K will Normington, NPC's, the masses, etc fomo and bail in? (Read 323 times)

About the only thing that Normies and NPC's like to fomo into is toilet paper and the latest Travis Scott meal at McDonalds.

Online companies not getting into crypto really makes no sense to me at all. Think about USDT and other stable currencies for example, they are very cool because right now you could use something automatic that changes crypto into USDT right?

It means if you are a huge company that is online, like lets say you are google and you make money from advertisement money mainly and that means if you accept crypto, any crypto that has USDT pair somewhere, you could accept that crypto as payment and turn that into USDT as well meaning you both open up for more payment option all around the world with countless cryptos but you are also not risking your money with fear that crypto price may go down, because all your money is with USDT and you can turn that into USD any moment you want.

I would have say the same sentiment on where i do believe the fomo will really trigger out when the price do hits up its previous ATH where people would really tell out
that it isnt a bubble since it do able to hit up again its peak price but for sure that there are still people who are waiting for this moment to sell on specially to those who bought
on peak but i believe that majority of them had already sell out their bags.Some people whose included into those bunch neither decide to buy on lower price to compensate on what
they had lost and since the price is clinging upwards then its understandable that they do still able to make money aside from waiting up for good opportunity or market condition.

$20k. Well after $20k of course some time need to pass so the news spread. $20k is ATH from end of 2017. Old ATH is a magic point when people will say. Oh Bitcoin is not a bubble it is worth more then ever was. Right now all have $20k in their mind and when see price at $11k they think. Oh Bitcoiners lost half of their investment. But they fail to see that almost no one bought at more then $15k and by far most bought Bitcoin at less then $10k so they are already in nice profit.

All of these already do it? I mean surely they are not doing it at a mainstream level but there are retail places that does accept bitcoin, it is not something hidden and it is not something they are running away from, retail places all around the world do have it, just not in mass adoption rates but with a few places here and there, we could see that grow bigger but it does exist.

Same with companies, there are grayscale and microstrategies that we all know, but I am sure all the other ones have it too, JP Morgan is one of the richest companies in the entire world and they bought Circle who bought Poloniex for example. Governments are smaller, Bahamas uses eth blockchain for example, they accept USDT as a company and help them bank it too, Estonia allows you to pay taxes, Ohio also accepts crypto taxes to be paid in crypto. All around these all exist in small percentage all around the world anyway.

They still HOLD the gold in their vault and have managed to sell at least 5x the amount of gold they have held there, so I wouldn't exactly call it a sale...

The US also have a lot of gold sold to India too I think...

UK sold its gold to buy EURO about 20 years ago at the lowest price possible.   US has the worlds largest reserve but also enough debt to place every citizen 70k into the red so making its reserve not nearly as useful.    China is the largest buyer and also producer of gold for a long time now but they also lack any good percentage reserve of gold compared to the amount of currency and debt they over produce.    So gold retains its rarity in reserves most likely but I dont see price is a determination of success for anything.

Both crypto and commodities vary in their purpose and capabilities, they arent exactly in opposition.   The idea of higher prices creating demand doesn't make sense to me, its probably the other way round so when a large part of the population find BTC as useful as remote controls and no trouble to use in its immediate benefit then just by retaining tiny amounts to spend but with millions of people you have the higher price .    2024 I believe was one target time frame for this positive move or recovery  in BTC price, we arent getting a new ATH this year imo and maybe not next even in the most positive outlook.   Normington central the tyrannical majority etc. prefer convenience, they really dont care how clever blockchain is but is it stupidly fall over easy to use then yea we will see opt in occur.

Retail FOMO will begin kicking in above $20K. Remember, that's when the bubble truly began in 2017, when the previous ATH was broken. Prior to that, it was typical early bull market accumulation behavior, a slow linear uptrend, like we're seeing now since the March bottom.

After the ATH is broken again, things will kick into high gear and the uptrend will go exponential. 2021 should be pretty interesting.


It was the same in 2013 and 2017. It's natural bubble behavior to look for "cheap" buying opportunities after one asset has already gone parabolic. I don't think this represents any real threat to Bitcoin or any real limitation on its upside. It just provides a narrative for the phenomenon of sector rotation and money flow between BTC and altcoins as both markets inflate a bubble together. It's quite a symbiotic relationship.

I think the retail market will enter way before $100K most likely if we break the ATH again like we did in 2017. Remember how we broke $1K ATH, and then hit $2K? If you look at the volumes with the retail onramp exchanges like Coinbase you will see that a bunch of retail market entered around the $3-4K range, and you can even use the Google trends for "bitcoin" as a guage.

Right now the retail market is all in the stock market, particularly the option markets. Go to wallstreetbets and you got people taking their life savings of $5K-$100K and instead of buying blue chip stocks like Apple they are buying Apple options (or TSLA). You can see fortunes made, posts like $3K->$500K and also fortunes lost $750K->$50K. And there are numerious amount of people who got thru these cycles. This market will not enter the crypto markets just yet.

You two shouldn't be fighting on which is good and great both assets have their own pros, and cons and each have a unique characteristics for some investors and players to keep tabs on, while Gold is good on a long run and has a physical attribute it is hard to carry if you got tons of it but it is always good to invest in it, because it is not perishable While in Bitcoin the convenience in getting a fast transaction and it is not only good as an asset but a convenient way in payment as well, I think if you got a big amount of money why not try both.

I'm very interested to see the effect of unit bias when it comes to normaltons entering. It's a real thing and near universal. It may well drive them into shitcoins in ever increasing numbers as they're 'cheaper'.

Many may feel they've missed the boat.

I expect that's where finance pros repackage it and feed it back to them in a more palatable form.

Speaking of gold, is anyone else seeing a strangely big nunber of goldbacked projects looking to securitise and actually on bitcoin or bitcoin pegged stuff? Seen two projects this week alone both claiming direct access to the actual gold mines in wherever.

Now there are no new players in that industry and everybody probably knows by now where all the mines are but me suspects people are thinking retail money is already coming into Bitcoin so why not get them some lovely gold too?

Note to self, retail money is at many levels. I would say the 2 percenters and 5 percenters, that's us, are the first level of retail and we aren't all in yet.

You can't really associate the price of Bitcoin to any of these entities being attracted just because it has hit that price. Just by looking at the news right now you will see that some companies both big and small are buying Bitcoin as a part of their investment/treasury reserve as they see the current price attractive right now while you will see other companies don't even look at Bitcoin as something attractive to buy. IMO it's always about what is in the mind of who's running that organization and if the board agrees on his idea and it is all about that not some kind of number attracting all of them.

Yes it has a mineral use, but it lacks properties that give BTC a use, eg send over interenet being the main one and easeir to use and proove.

No particular point or level since they might be already filling off their bags gradually even into these time.Who knows?

When we do hit up $20k which its previous ATH then we would definitely hook up lots of attention.Institutional, retail,government?

Of course they can put up their funds or money but thinking up on their currencies to drop zero? They do know and can say up to themselves that
this one is impossible to happen.So expect that going all in on crypto is just a dream.

I guess it was not about the price in which the normal people would see something on bitcoin to enter its markets. We have seen them flock on bitcoin when it was below $10k and above $10k. It would be widespread adoption and lots of places to use that coins in to good use that we'll see a surge of newbies wanting to get the share of the pie. Institutional investors are in on the action already though on a somewhat discreet manner so as not to disrupt their entry prices. While some are open about being into the game, some are just hiding in the shadows and buying coins whenever the price is still right on their books.

There is no force entry to cyrpto, the price could be whatever and they would still not forced to get in. However I have to remind people that by the time we were $20k, amazon to steam to google to many other digital companies did got in. They were accepting bitcoin by that time and I feel like that was the moment I realized bitcoin was too big and it can't be stopped.

The giants and goliaths of the tech world started to realize that bitcoin was something to actually fight for and it was something that nobody could deny and they started to actually use it, which meant that after certain price bitcoin is something that will become mainstream. That mainstream acceptance is not known, we don't know at what level it will happen but I know that it will eventually happen.

It has an actual purpose in industry, unlike bitcoin though ;-)..

Bitcoins just for drug dealers and the black economy, don't fool yourself .

Realistically it has much less of an application than gold...

I don't think that masses care much whether bitcoin is useful or not not, what they want is chance for making quick buck and they will fomo in once we reach new ATH and break that psychological barrier.

Back in late 2017 bunch of my friends wanted to buy some BTC from me, when price was 15k+. Recently I wanted to sell some, and none of them were interested in buying, as for them its currently "too expensive " but once we reach those previous ATH levels, they will want some and 20k will seem cheap to them. That's how it goes.

GOLD

who buys or needs that?

I mean GLHF stufing that through the internet.

Also certs printer goes Brrrrrr