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The growing panic among traders and investors in the crypto market is actually a bullish signal, said experts from the on-chain platform Santiment.
According to analysts, now the ratio of comments on social networks and forums reflecting bearish or bullish sentiment is biased in favor of fear.
“Extremely pessimistic statements about the future of cryptocurrencies on the Internet are actually one of the few strong bullish signals,” Santiment is convinced.
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Historically, the crypto market often moves in the opposite direction from the expectations of most participants. When the majority is convinced that prices will fall, this often creates the preconditions for a trend reversal, on-chain experts argued.
In the coming months, analysts expect increased interest in large crypto assets, including Bitcoin and Ethereum, from corporate investors, as well as strengthening on-chain indicators. All this can also become an additional incentive for slow but steady growth, Santiment analysts are convinced.
Previously, Glassnode experts said that the crypto market is gradually recovering from the massive October collapse, becoming more stable and disciplined.
