Memories of social media about cryptocurrency purchase have increased to the highest level since July last year in connection with the route on the cryptographic market, which recently sent Bitcoin below USD 80,000.
Santiment’s Social Sentiment Tracker said that the discussions of traders on various social media channels, such as X, Reddit and Telegram between February 25 and 26, “show a very high level of certainty” that this inheritance is “the one who bought” platform he said In February 28, post to X.
He added that this is the highest level of cryptocurrency interest in seven months.
Bitcoin fell below $ 90,000 on February 25, the day after US President Donald Trump announced his planned 25% tariffs to Canada and Mexico.
Since then, the price has fallen even more profits after the US elections, falling below USD 80,000 on February 28, after Trump threatened another 10% tariff to China and in another macroeconomic uncertainty.
Tracker Santiment moves through social channels specific to crypto-designers for the 10 best words that have recorded the most significant growth in the last 14 days. Source: Single
However, the analytical platform claims that a lot of interest in buying a decline is not necessarily a signal to jump on the market, because it can often move in the opposite direction of expectations.
“We are perfectly waiting for the enthusiasm of the crowd to die as a signal that sufficient pain has hit retail traders to justify reflection,” said Santiment.
“Markets are moving in the opposite direction of the crowd’s expectations, so look for decreasing optimism and shrinking of buy levels as a stubborn signal.”
Related: Crypto Market sees “tactical retreats, not reversal” – CEO of binance
Tracker Santiment shifts through social channels specific to crypto-specific, such as X and Telegram for the 10 best words, which recorded the most significant escalate in mention in social media compared to the previous two weeks, According to to his methodology.
Bitcoin (BTC) has withdrawn by more than 21% in the last 30 days and dropped by 5% in the last 24 hours, trading around 80,400 USD, According to For Coinmarketcap data. Ether (ETH) is down Over 30% in the last 30 days and dropped by 7.54% on the last day, trading around USD 2139.
In the next post, Santiment he said It is not surprising that prices fall even more after “the retail crowd was buying around the world.”
Source: Single
“Look for a selfless or depressed crowd as a sign that a real opportunity has arrived,” said the Platform.
Google Trends data can be seen A similar narrative takes place as interest in searching “Buy The Dip” increased until February 100, looking at the weekly time frame. However, since then, interest in search has dropped to a result of 49 out of 100.
Google Trends shows that many people were interested in the date of the buyer. Source: Google trends
Meanwhile, the search for the term “Krypto” has reached the highest level of 100 in the last seven days of February 25 and is Currently Sitting at 87 out of 100.
The value of 100 is classified as the peak popularity of this term, According to To the Google Trends FAQ, while result 0 means a relatively low volume of this date that day.
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