Abstract：Over the past seven days, the word “dip” holds the number one spot for crypto market sentiment.
Joseph Hall 1 minute ago ‘Dip’ ‘Buy’ and ‘Fed’ top trending topics on social media, per survey
Panic sellers hold your horses because dips are still for buying, according to data from Santiment behavior analysis.
Listen to article 0:00
Over the past seven days, the top trending words on cryptocurrency social media are “dip”, “buy” and “Fed”. Plus, the word “sell” fell out of the top 10 trending topics last night despite spiking sharply on Tuesday.
According to crypto market data aggregator Santiment, social media users from Meta to Telegram to Twitter have formed a choir and theyre all singing from the same hymn sheet. “Dip” and “buy” are the top one and three trending words, while “Fed”, or Federal Reserve, sits at number six.
The behavior analysis and monitoring platform Santiment sheds light on social volumes for words on crypto social media which can be indicative of overall sentiment. It works in a similar way to the Fear and Greed Index which currently shows a score of 18, extreme fear.
In contrast to the index and some trader fears of a $30,000 price per Bitcoin (BTC), social media buy sentiment remains strong. It is still just one-third of the score of 1,875 points that spiked on Dec. 4, 2021, when the BTC price flash crashed to $42,000.
Federal Reserve features high up on the list due to discussion surrounding a potential rate increase in 2022. Bitcoin bull Vijay Boyapati is nonplussed. In a Tweet on Wednesday, he suggested that BTC will fly when the Fed “loses control of the bursting bubble they've inflated for the last decade.”
Related: Cardano became the most developed crypto project on GitHub in 2021 — Santiment
Curiously, there was a spike in “sell” sentiment activity on Jan. 4. The clamoring to sell three days ago was just as intense as those chiding investors to buy on Nov. 29. 2021, at 4,828 Santiment points. However, back then the bull run appeared to be in full swing.
Overall, crypto sentiment seems optimistic that the current market action is just a dip. However, the topic “bear” has crept up from the number 10 position last night to number eight this morning.
With BTC prices dipping as low as $41,000, there could be more volatility to come.
Blockchain to Disrupt Music Industry and Make It Change Tune
Influencers are invited to become ‘metapreneurs’ as social media moves to Web 3.0
The year for Bitcoin: A 2021 roundup of the flagship crypto
Five coins that saw huge gains in 2021
Bitcoin 'death cross' that pushed BTC price to $28.8K reappears
Bitcoin rises above $51K as the dollar flexes muscles against the euro
Load more articles Editors Choice
GameStop shares jump 26% in after-hours trade after NFT division unveiled
$139M Terra proposal to ‘bring awesome UST use-cases’ to DeFi projects
Vitalik proposes new ‘multidimensional’ Ethereum fee structure
SEC files complaint against operator of unregistered $33M Crowd Machine ICO
Ethereum plunges 13%, down more than Bitcoin after Fed spooks crypto markets
Cointelegraph YouTube Subscribe Advertise with us
WikiBit 2022-08-16 20:46
WikiBit 2022-08-16 18:39
WikiBit 2022-08-16 12:49
WikiBit 2022-08-15 16:45
WikiBit 2022-08-15 19:03
WikiBit 2022-08-15 23:29
WikiBit 2022-08-16 19:14
WikiBit 2022-08-15 22:06
WikiBit 2022-08-15 11:24
WikiBit 2022-08-15 16:41