Are We in a Bitcoin Bull Market FOMO?

Limiting FOMO as BTC Surpasses $39K and Enters Key Profit Zone

Bitcoin’s bull market fear of missing out (FOMO) is not evident as the price of BTC approaches the important $39K profit zone.

The Bitcoin bull market is on fire, with prices soaring a staggering 120% this year. But where is all the FOMO (Fear Of Missing Out)? It seems like investors are still holding back, reluctant to jump into the frenzy.

According to data from Look Into Bitcoin, on-chain transactions are starting to involve “younger” bitcoins. It’s like the Bitcoin network is playing matchmaker, bringing fresh blood into the game. But we’re still missing the drama and excitement that comes with FOMO.

Let’s take a closer look at the Realized Cap HODL Waves metric, or RHODL Waves, as it’s affectionately called. This metric examines how bitcoins move on-chain based on their age and the price at which they last moved. During bull markets, we usually see a surge in coins being transferred frequently as investors try to make quick gains. But right now, those waves are just starting to rise.

So, no FOMO yet. We’re still early in the game, my friends.

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Bitcoin’s Profitability: The Break-even Point Approaches

Let’s talk about Bitcoin’s profitability, shall we? Remember those folks who bought BTC just before the all-time highs in 2021? Well, they’re still underwater. Ouch!

According to Onchained, a contributor to CryptoQuant, the Net Unrealized Profit/Loss (NUPL) indicator reveals that holders who bought Bitcoin 18 months to 3 years ago are still waiting for their profits to surface. But fear not, my fellow hodlers, because the break-even point is just around the corner.

The graph shows that all UTXO age bands are currently in a profitable state, except for those poor souls who bought during the rally to $67,000. Their NUPL is inching closer to the profitability benchmark of 0, indicating that they might finally break even if Bitcoin continues its rally beyond $39,000.

The Great Game of Bitcoin

So, there you have it. Bitcoin’s bull market is in full swing, but the FOMO seems to be taking its sweet time to show up. Will it ever arrive? Only time will tell.

In the meantime, let’s enjoy the thrill of this great game called Bitcoin. The ups and downs, the excitement, the potential triumphs, and the occasional heartbreaks. It’s like a rollercoaster ride that keeps us on the edge of our seats, always craving for more.

Whether you’re a seasoned investor or a curious bystander, Bitcoin has something to offer. It’s a digital adventure that combines technology, finance, and a whole lot of imagination. So, strap in, hold on tight, and let’s ride this crypto wave together!

Have you felt the FOMO yet? Share your thoughts and experiences in the comments below. And remember, in the world of Bitcoin, anything can happen.

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