Bitcoin has made another leap this week. BTC capitalization exceeded $ 1 trillion for the first time since mid-February.
However, among Twitter users, anxiety has increased again. People again began to doubt that Bitcoin would hold above $ 50,000.
According to the Santiment team, Twitter activity is now resembles bearish sentiment early October last year.
In spite of #Bitcoin hovering from $46.5k to $52.5k this past week, the sentiment from #Twitter is at its most bearish level since October 1, 2020 today. As we’ve noted in previous studies, moments of crowd disbelief are commonly the most opportune times to buy with confidence. pic.twitter.com/ExpLGNWK8g
– Santiment (@santimentfeed) March 7, 2021
Confidence in cryptocurrency has dropped once again. This trend was the result of the February sale. If the fall in prices resumes, then you can take advantage of the situation and buy coins, the researchers emphasized.
Note that in the middle of autumn 2020, bitcoin was trading in the area of ​​10,000. Only in December, the rapid ascent of the coin began, and it was able to end the year at around $ 28,000.
The trend could change sharply this week as the US Senate approved a $ 1.9 trillion stimulus program. Some observers believe that the funds that ordinary Americans receive will be able to direct them to the purchase of assets, including bitcoin.
Already at the end of last week, the number of posts dedicated to BTC increased sharply. In parallel, the number of mentions of the largest altcoins in the social network has grown.
According to the TIE platform, on March 5, over 70,600 posts about Bitcoin appeared on Twitter in a day. The second and third places in the popularity rating were taken by ether (ETH) and XRP. These coins were dedicated 20,900 and 7,400 tweets, respectively.
Top 10 Cryptocurrency by Tweet Volume (24hr) 👇$ BTC 70.6k$ ETH 20.9k$ XRP 7.4k$DOGE 7.3k$ THERE 5.0k$CAKE 3.4k$LTC 3.4k$UNI 2.9k$LINK 2.1k$ POLS 1.6k pic.twitter.com/5FLkOdyODx
— The TIE (@TheTIEIO) March 4, 2021
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