Traders of Robinhood increasingly see “fear of losing” or FOMO clusters around specific stocks. The last recipient was the stock price of the renowned camera manufacturer Kodak (KODK), whose shares rose from $ 2 to $ 60 in one day.

Therefore, given the current climate of economic uncertainty and “infinite quantitative opportunities”, the optimism for a similar increase in BTC prices, as some analysts are currently expecting, will definitely increase if the optimism about risk conditions spreads to Bitcoin.

After the Fed meeting on July 29, analysts also expect that general investor sentiment will recover, which is good news for bitcoin bulls given the recent connection between bitcoin and stocks.

Why Kodak has seen the same growth, and why some BTC investors expect the same
On July 28, US President Donald Trump announced that Kodak would receive a $ 765 million loan to establish Kodak Pharmaceuticals. Kodak has a long history of making chemicals and chemical products.

In 2013, Kodak moved away from the transportation industry and President Trump's message strengthened Kodak's presence in the pharmacy. This came after the government decided to reduce US dependence on drug manufacturers in foreign markets.

As a result, Kodak experienced a rally that even surpassed the corresponding bullish trend for Bitcoin in 2017. Eastman Kodak shares gained 318% in a trade. He brought in 20 circuit breakers to provide a market capitalization of $ 1.45 billion. At its peak, Kodak is up 2198% in two days.

Given the sudden increase in the KODK price from $ 2 to $ 60, a similar increase would push BTC prices above six figures, justifying very few of the $ 100,000 price forecasts for 2020 from some leading industry experts.

The price of KODK and Bitcoin also showed some correlation in early 2018 with other cryptocurrencies. With Bitcoin rising to almost a record $ 20,000, KODK has grown from $ 3 to $ 13 over the same period.

Meanwhile, reported that more than 100,000 Robinhood users now own shares in Kodak. Prior to the announcement, fewer than 10,000 users had invested in KODK.

There is no striking similarity between Kodak and Bitcoin. But stocks are rising fast, and the sudden inflow of capital from individual investors shows how fast the trend can change.

It also illustrates the effect of favorable market conditions on equities and alternative assets. The Federal Reserve confirmed in an official statement to the Federal Open Market Committee that it will do everything it can to revive economic growth.

The FOMO market is just in time for BTC
The Bitcoin price jumped from $ 3,600 to $ 11,400 in five months. The trip begins after the bonus has been halved on May 11, which happens every four years.

As the Cointelegraph reported on Wednesday, large investors are expressing enthusiasm for Bitcoin's ongoing upward trend. Cameron Winklevoss, founder of Jimini, a cryptocurrency exchange for billionaires, says the upcoming bitcoin bull race will be “significantly different.”

Among the three reasons that Winklevoss identified, he pointed out that the largest share capital is mainly in the crypto market. The market value of Tether and AUM of Grayscale shows that capital is much more than crypto compared to previous years. For this reason, investors believe that when a trend begins, it may lead to an increase in FOMO among individual investors.

Based on various calculations, Jason Williams, co-founder of Morgan Creek Digital, said he expects Bitcoin to hit a new high all the time in 2020.

Source: CoinTelegraph