• Mon. Jun 24th, 2024

Twitter Crypto Community does not Expect Bitcoin Bullish Run Anytime Soon

Christian Klausen

ByChristian Klausen

Jul 22, 2021

Santiment is a crypto analytics aggregator that specializes in the market aura and investors’ inclination reads. The service recently tweeted that the crypto community on Twitter is at large negative about any possible Bitcoin bullish trends. These readings are based on the algorithms data analysis run by Santiment.

However, the agency continues to maintain that a bull market is coming regardless. It also postulated that the new bull run would exceed the expectations of all investors. The experts at Santiment explained that the negative sentiments are inversely proportional to a positive price rally for Bitcoin. The service also claims that the current price drops are also a good sign for market bulls.

A few days ago, crypto analytics aggregators like Glassnode and Santiment claimed that investors are moving a massive amount of Bitcoin to cold storage wallets. However, a recent market survey by CryptoQuant claims that whales have been dumping a massive amount of Bitcoin on exchange platforms. This new research negated the claims made by Santiment earlier.

CryptoQuant CEO Ki, Young Ju, also claimed that this looks like the start of the official bear market for Bitcoin. Whereas, Santiment experts now claim that the Fear and Greed Index has reached a high level of 15. According to Santiment, the last time the FnG index was so high was in March. At that time, the flagship cryptocurrency stumbled and lost 50% of its price in the market in 24 hours. That event is known in history as Black Thursday.

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UK Crypto Exchange CEO Claims that Bitcoin is Going to Repeat History

Danny Scott is the CEO of the crypto exchange platform CoinCorner based in the United Kingdom. Despite the cynical stance of UK regulators towards cryptocurrencies, Scott is a believer of Bitcoin appreciation. He believes that the Bitcoin market will soon explode with price surges.

Scott presented a comparative histogram for Bitcoin of the 2013 and 2021 bull market run. He claims that in both bull markets, Bitcoin prices peaked in April, followed by a decline. He further explained that the price decline after a record ATH lasted for a few months for both bull runs. In the end, he predicted that just like Bitcoin prices recovered in August 2013, the same would happen in the current year.

Christian Klausen

Christian Klausen

Christian Klausen is a talented news writer renowned for his compelling storytelling and comprehensive research. With a sharp eye for detail, his articles offer readers a thought-provoking and well-informed perspective on a wide range of current topics.

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