It is commonplace to remark that dealers, traders, and indeed investors, regularly find themselves seduced by the allure of round numbers, and when such milestones are in sight, tend to drive prices to levels unimagined by conventional analytics, or indeed common sense. In short, when sentiment takes over from fact, FOMO (fear of missing out) comes to the fore, and many jump onto the speculative bandwagon. There are numerous examples of this phenomenon in the recent past, but there have been few, if any, occasions when high price levels – i.e. trading above the ‘round number’ – were consistently sustained. Bitcoin at ... (full story)