Bitcoin Sentiment Spikes After Mild Price Jump: Crowd Too Excited Too Quickly?
2024年9月14日 - 11:30AM
NEWSBTC
Data shows that the positive sentiment around Bitcoin has spiked on
social media after BTC’s return above $58,000, implying investors
may feel FOMO. Bitcoin Positive Vs. Negative Sentiment Ratio Has
Spiked Recently According to data from the analytics firm
Santiment, the crowd has recently shown a sudden burst of optimism
around Bitcoin. The indicator of relevance here is the “Positive
Sentiment vs. Negative Sentiment Ratio,” which, as its name
suggests, keeps track of the ratio between the positive and
negative comments on social media related to a given coin. Related
Reading: Legendary Bitcoin Puell Multiple Finally Enters ‘Buy’
Territory The analytics firm sources posts/threads/messages from
platforms like Twitter, Reddit, Telegram, and 4Chan. To determine
whether these posts are negative or positive, Santiment puts them
through a machine-learning model. When the indicator has a value
greater than 1, the comments related to positive sentiment outweigh
the negative ones. On the other hand, being under the threshold
suggests that most social media users share a negative sentiment.
Now, here is a chart that shows the trend in the Positive Sentiment
vs. Negative Sentiment Ratio for the top two coins in the sector,
Bitcoin and Ethereum, over the past few months: As displayed in the
above graph, a huge spike in positive sentiment vs. negative
sentiment was observed for Bitcoin after the
latest cryptocurrency recovery. The peak of this spike has
corresponded to twice as many positive posts as negative ones
cropping up on the major social media platforms. This is the first
time the indicator has reached such a high level. While this
indicates that the investors feel bullish about the asset, the
optimism scale could be concerning. This is because BTC has
historically tended to go against the expectations of the majority,
with the probability of a contrary move rising, the more sure the
crowd has become of a direction. Since the positive sentiment has
exploded after only a mild jump in the price, FOMO may
be taking over the market a bit too soon. This could lead to a
potential top for Bitcoin. As for when BTC’s fates might turn
bullish again, the analytics firm says: Look for traders to “slow
their roll” and start to express FUD again. When the crowd begins
conveying doubt again, BTC will truly begin testing its March
all-time high market values. Related Reading: Which Altcoins Could
Skyrocket Next? Analytics Firm Points To These Interestingly,
whereas FOMO around Bitcoin is taking over social media, the users
are still only showing a modest amount of optimism towards
Ethereum. This could naturally play into the favor of ETH’s price.
BTC Price Bitcoin has been encountering trouble pulling off a
sustained move above $58,000, with the coin seeing another
rejection today to $57,800. Featured image from Dall-E,
Santiment.net, chart from TradingView.com
Optimism (COIN:OPUSD)
過去 株価チャート
から 9 2024 まで 10 2024
Optimism (COIN:OPUSD)
過去 株価チャート
から 10 2023 まで 10 2024