Bitcoin Price Reclaims $28,000 – Who Knew FOMO Could Be So Cool?

Did you hear the news? When it comes to Bitcoin, the fear of missing out (FOMO) turned out to be a downright cool sensation. After the release of the Core PCE coming out cooler than expected, BTC price promptly raced back up to reclaim the $28,000 mark. But, how did the market react? And, how can you take advantage of this? We’ll break it all down.

The Fear of Missing Out is Cooler than Expected

As soon as news broke that the Core PCE came out cooler than expected, the Bitcoin market acted like your typical FOMO-inducing teenager: It was ready to jump into action!

Prices quickly started to rebound and recycled straight back up to reclaim the $28,000 mark. Bitcoiners were feeling pumped as they watched the crypto currency run back up the charts in a fraction of the time that it took for it to fall under $28,000.

How the Market Reacted

The reaction was both swift and strong. Here are some of the important facts to remember:

  • Bitcoin price raced back up more than 6.4%, claiming the $28,000 mark in a few quite short-lived hours.
  • This move was supported by trading volumes which suggest that enough institutional investors are still in play to influence the market.
  • The resistance at $29,000 may prove to be too much for Bitcoin to break unless institutional investors or miners begin to act.

Where to From Here?

Now that the FOMO-induced Bitcoin prices have come back to the surface, investors are forced to make a decision: Dip their toes back in, or wait it out?

The market is still quite risky, and fears around the potential for further regulation on the way are likely to keep a lid on any further price hikes. However, that doesn’t mean you can’t take advantage of the current situation and ride the wave of excitement.

Interestingly enough, the fear of missing out may have actually done the crypto world a favor – at least for now.