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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.
Updated Sep 14, 2021, 10:31 a.m. Published Nov 17, 2020, 8:00 p.m.
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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This episode is sponsored by Crypto.com and Nexo.io.
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
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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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