As Bitcoin shatters prominent barriers at $6,000 and $8,000, just within the span of a week, interest is reaching fever pitch. In spite of showing strong performance, which according to some analysts is uplifted by economic uncertainty over the US-China trade War, there are those who stay dubious.

&nbsp;

Bitcoin FOMO
An outstanding week in term for Cryptocurrencies experienced Bitcoin break $8,000 imprint on Tuesday

Up to 120% since the beginning of a year, this buoyancy is consistently leading the rest of the market into a bull run. Staggeringly, mainstream media and every common people are discussing Bitcoin once again. Taking into account, Bitcoin supporter, Thomas Lee of Fundstrat Global Advisors, have confidence that no-coiners will FOMO into Cryptocurrencies. While talking to CNBC, he illustrated:
<blockquote>“There have been positive developments, including some of the announcements coming out of Consensus, like the BAKKT launch and merchants starting to accept Bitcoin. But, what’s getting investors quite optimistic is that now Bitcoin is approaching that $10,000 level, I think there’s an increasing chance that traditional non-crypto investors are going to start looking at crypto again.”</blockquote>
Lee went on talking about the significance of getting new investments into the Crypto Market. He believes this will prove to be the causal agent for pushing prices back towards All-time-highs.

&nbsp;

Perpetual Altitude
Thomas Lee has consistently shoved bullish point-of-view, even during the uplift of Crypto winter, which experienced Bitcoin lows of around $3,200. As days are passing, it seems way definite that we have Ultimately left bears market behind. the major reason behind the buoyancy may concern the economic uncertainty rooted by the US-China trade war, Lee mentioned in an interview given to CNBC.

Last week, Trump, the president of the US, announced an exaction on Chinese imports up to 10% to 25%. This action led to the political dispute, which served to worsen the already strained relations.

The financial Market showed a severe reaction, experiencing a 600 point fall on the Dow Jones. Concurrently, Bitcoin broke $6,000 though these events may be unexpected, Lee, including some analysts, consider Bitcoin as a refuge during the period of unpredictability.

Travis Kling, Founder of the lkigai fund, opened up regarding Bitcoin is the solution to an untenable economy. Investors catch to the reliable alternatives as a fence. He outlines:
<blockquote>“This is a hedge against irresponsibility from governments and central bankers…the world is waking up to the value of a hedge against quantitative easing.”

&nbsp;</blockquote>
The Bears Aren’t  Behind
Although, things are looking up for Bitcoin, and Cryptocurrency Market, not everyone expects Bitcoin will see a major rush.

Greg Thomas, refer to various reasons of Bitcoin being down to zero, Major amongst them was lack of demand for Decentralization. He Put down:
<blockquote>“We all talk about decentralization and freedom as though it were obvious that these things are what people desire. Throughout all of human history people have organized themselves into hierarchies, with a centralized governing figure at the very top; be it God, the King or the latest President.

A lot of the Bitcoin and cryptocurrency movement is about personal freedom, personal responsibility, emancipation from centralized power – but I ask: just what makes you think that’s what people want?”</blockquote>
Pessimists were quick to criticize Lee for his CNBC interview. One thing is definite that a return to $20,000, and further on, will be high enough to gratify the Cynics.

Bitcoin FOMO is Strong Enough Yet the Bears Will Not Sit Quietly

Top Picks