With bitcoin’s price losing more than $3,000 in days and reaching a multi-week low, the crowd sentiment remains mostly negative, shows recent data. However, similar developments have turned out to be signals for local bottoms in the past, and the question remains if history is to repeat itself.
The Sentiment is Low, But Could That Be Good?
Bitcoin tried to break above $37,000 at the end of June, but it was quickly rejected and headed south in the following days. Despite the relatively positive start of July when BTC attempted another breakout, the asset has actually lost more than $5,000 of value since June and reached a three-week low earlier today.
Naturally, these adverse developments have affected investors’ general feelings and approach towards the primary cryptocurrency. Data from the analytics resource Santiment shows that the overall Twitter sentiment toward Bitcoin “remains negative,” with most comments predicting more price slumps hidden around the corner.
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Źródło: https://cryptopotato.com/crypto-twitter-negative-sentiment-peaks-again-history-shows-this-could-be-bullish/