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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

Analyst: Recent Bitcoin Rally Is Only the Start, Retail Will Take it to New Highs

Tony "The Bull" Severino
Tony "The Bull" Severino
1 year ago
3 mins read

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The latest rally across the crypto market may just be the first major impulse upward before retail FOMO occurs and the flow of new money entering the market pushes the prices of cryptocurrencies like Bitcoin, Ethereum, XRP, and more much higher.

Recent Crypto Rally Is Just The First Impulse Before Retail FOMO

The crypto market has grown over 40% since the start of 2020 and is showing no signs of waning momentum.

After Bitcoin bottomed out at around $6,400 in late December, surging altcoin prices caused massive breakout from downtrend resistance, which not only caused altcoin valuations to skyrocket but helped push Bitcoin out of its downtrend as well.

Related Reading | 10 Factors Confirm a New Crypto Bull Market Has Officially Begun 

The fall to $6,400, according to one crypto analyst, was the capitulation needed to restart the market cycle from bear to bull. The same thing occurred back in December of 2018 when Bitcoin reached a price of just $3,100 per BTC.

The analyst also says that the current move up is just the first impulse preceding a massive bull run driven by retail FOMO.

We just capitulated and saw peak lack of interest in December, this is just the first impulse.

I don't think this is retail because retail don't buy the first move. The fact this move is so strong across the board is a sign crypto is well and alive. 2020 will be great. pic.twitter.com/ITIHQ1z33n

— CL (@CL207) February 7, 2020

The theory is that it is uncommon that retail would buy the first major movement, and just like the flood of retail investors at the height of the crypto hype bubble, would follow the herd mentality and arrive late to the game.

The fact that Bitcoin is growing even without retail inflow the analyst believes is a sign that “crypto is well and alive,” and that 2020 “will be great” for the emerging asset class.

Bitcoin FOMO Trigger Could Cause Explosion of Retail Interest Once Again

The surge of retail interest may arrive after a break above $10,000.

Back before Bitcoin made it above the key level the last time, Fundstrat’s Tom Lee called $10,000 an important FOMO trigger. However, Bitcoin broke above the level, but retails investors weren’t ready yet to once again buy into crypto – it was too soon after the bubble pop.

Related Reading | Bitcoin Transaction Values Soar To Highest Level Since Crypto Bubble

Now that more time has passed, crypto investors may be more open to believing there’s hope in a new rally, rather than foolishly buying into a sucker’s rally.

The next time Bitcoin breaks above $10,000, which could be any day at this point given current prices of in the high $9,000 range, could cause a surge of extreme FOMO in retail investors and traders.

bitcoin price chart crypto

Back in 2017, it was a break of $10,000 that took Bitcoin to its all-time high of $20,000 just one month later. The same thing could happen again with the next break of the key level, which could finally cause a flood of new retail money and a surge to new all-time highs.

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Tony "The Bull" Severino
Tony "The Bull" Severino

Tony "The Bull" Severino

Tony "The Bull" Severino, CMT, is a distinguished figure in the cryptocurrency analysis sector, renowned for his in-depth technical expertise and innovative approach to market trends. As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market.
A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony’s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements.

Read more

Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions.

In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony’s expertise to guide their trading strategies.

Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies.

Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders.
His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics.

Tony’s nickname, "The Bull," aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice.

In summary, Tony "The Bull" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

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