For Bitcoin, FOMO Is Being Replaced With FUD (Fear, Uncertainty And Doubt)

Bitcoin is going to crash according to many and this crash is going to be triggered by Mt. Gox who are about to unload a massive chunk of bitcoin and bitcoin cash to creditors. This 160,000 chunk of coins is going to thump the market and bring it to its knees.

Crypto has coined and co-opted a whole new lexicon, one worthy of the Millennial generation that is adopting crypto as an alternative to old-fashioned ‘fiat.’

‘Fiat,’ for one, is a new word for most. It’s a sneering point of view that looks at government money and says it is garbage. It isn’t of course, and you cannot buy a Lambo with bitcoin but you can with dollars.

Then there is FOMO, ‘fear of missing out.’ The bitcoin bubble was driven by copious ‘FOMO.’ Bitcoin, ether, litecoin made a lot of people a lot of money fast and millions wanted a piece of that and piled in driving the bubble. The market went vertical and the old hands and cautious sold. A few said, like myself, bitcoin futures, bye….