The Santiment platform, which specializes in social metrics and data from various platforms, has detected an increase in negative sentiment in the crypto market.
The company’s specialists write that it is quite difficult to determine the specific reason for such a high fear, uncertainty and doubt (FUD) is quite difficult:
In the analysis carried out by the platform, it was revealed that the majority of users “sow panic and uncertainty” when talking about a bearish trend in the market.
In general, the amount of negativity in the comments has reached the “highest levels” in relation to the industry. They note that the hashtag #cryptocrash (cryptocurrency collapse) was popular long before Bitcoin fell by 5% on Friday amid the Silvergate news.
One analyst at Santiment, however, believes that now is a good time for bulls to buy at low prices. In addition, in his opinion, there are many players on the market who do not know what to do: either buy or sell.
A number of assumptions under the statement of Santiment are associated with the situation around Silvergate, as well as the actions of the US SEC, which tends to recognize all altcoins as securities. Earlier media reported that Citadel Securities is considering bailing out Silvergate Bank.
Source: Cryptocurrency
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