The latest Bitcoin (BTC) has a market participant who speculate whether there will be more bloodshed in the coming weeks or if the value of the original will record a large recovery. Santiment Market Analysis Company has set some indicators on the chain that can provide an insight into the short -term Bitcoin.
According to Santiment, many standards indicate the series that the market still has rocky times, with the disturbance caused by total and global economic concerns. However, the reshaping of BTC with whales and increased fear, uncertainty, and suspicion (FUD) indicates that positive signs began to appear.
“The sky does not fall into encryption”
Since BTC has reached the highest level (ATH) at a value of $ 109,000 on the day that US President Donald Trump had already been inaugurated, the currency coded in the recession was seven weeks.
Santim He said The fear of losing (FOMO) in the assembly was not slowed, as he did often – this was due to the large BTC accumulation by whales and sharks. This accumulation continued until Trump’s inauguration in mid -January, but he started slowing after the event and stopped in mid -February.
The price of Bitcoin began to record deeper corrections when sharks and whales began to make profits. Prices continued to collapse even after the resumption of high -capital BTC governor on March 3.
Despite the re -formation, the amount of BTC was transmitted to exchanges was high. Santiment found that 22,702 BTC (about 0.11 % of Bitcoin’s entire Bitcoin supplies) moved from an early governor to the exchange addresses between February 20 to March 8. This is a reason for anxiety because the primary purpose of transporting coins to exchange is often sold.
However, Santiment sees whale accumulation and exchange supplies as long -term indicators, so short -term merchants must focus more at the FOMO and FUD level that shows a daily retail crowd on social media.
Return Ward?
The examination of social media content states that BTC predictions related to low prices (50,000 dollars to $ 69,000) are higher than signal signals ranging from $ 100,000 to $ 119,000.
Santiment says this is a good sign because the encryption market often moves in the opposite direction of the crowd’s expectations. Analysis Company rootes the delivery of social media to unwanted price predictions because it shows that they are still downward.
Another scale that must be observed is the average rate of gains or losses from short -term merchants. Bitcoin merchants have lost in the last 30 days by 11 %, while activists in the past 365 days have decreased by 5 %, indicating that the market is not in historical negative areas yet.
“Don’t be surprised if there is more pain in the store first. The company added:” It is always the darkest before dawn. “
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