Long-standing Bitcoin and crypto money supporter Cameron Winklevoss gave the message “There is no FOMO in this rally”; He drew attention to the stagnation of Bitcoin searches on Google compared to the previous rally. On top of that, a follower of Winklevoss said, “People already know what Bitcoin is; BTC price is no longer curious about it ”.
Cameron Winklevoss, the co-founder of Winklevoss Capital Management and Gemini exchange, emphasized that the Bitcoin rally this time was different from 2017 with a post he shared on his Twitter account. Cryptocurrency supporter Winklevoss said that while the price of Bitcoin was at $ 18,500, searches for “Bitcoin” on Google did not rise as sharply as before. Winklevoss, who argued that the Bitcoin run this time was not driven by FOMO, claimed that the bull run was triggered this time among stable and regular investors. Cameron Winklevoss added, “very few people understand this.”
The price is now being searched, not what Bitcoin is
There were also those who viewed Cameron Winklevoss’s thoughts on Twitter from a different angle. A Twitter user named “greenhacker” replied to Winklevoss on Twitter. Greenhacker said that people now know what Bitcoin is, so searches are not increasing. In other words, according to Greenhacker’s statement, the rate of awareness or adoption for BTC may be higher today than the 2017 rally.
In addition, Greenhacker stated that the search for “BTC / USD” instead of “What is Bitcoin” on Google has now peaked. People who know what Bitcoin is now wonder how much a Bitcoin is in dollar terms. The BTC / USD pair has shown a serious momentum in recent weeks and the BTC price has approached $ 19,000.
Swenson said “HODL FOMO” would be effective in this rally
Podcast host and cryptocurrency instructor Brady Swenson has suggested in a statement recently that the concept of HODL FOMO will be driving the Bitcoin rally this time around. Swenson said that the 2017 rally was driven by the speculative FOMO of short-term investors who want to make a profit immediately.
According to Swenson, he suggested that the FOMO move of long-term investors who have adopted the HODL concept rather than speculation could be effective in this rally. Swenson emphasized that BTC, which received more institutional investments and started to experience less market volatility, started to create an atmosphere of general trust.