Home Blockchain News Bitcoin Price Loses Bullish Edge as FOMO Rally Runs Outta Steam

Bitcoin Price Loses Bullish Edge as FOMO Rally Runs Outta Steam

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By CCN: The Fear of Missing Out (FOMO) that recently drove bitcoin’s price above $9,000 has run out of gas, according to a new report published by crypto analytics firm SFOX. While the BTC price was on a steady incline since the beginning of April when bitcoin traded for $4,100, the coin has hit a ‘tipping point’ in overall sentiment. Bitcoin Rally Driven by FOMO SFOX relies upon price momentum, market sentiment, and industry advancement for its price outlook. In May, BTC registered a ‘mildly bullish’ rating but has since been downgraded to ‘uncertain.’ FOMO has clouded overall crypto sentiment and

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* First published on ccn.com

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