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Social Media FUD Has Reached Its Peak

Cryptocurrency markets continue to bleed, and social media is experiencing historic levels of fear, uncertainty, and doubt (FUD), according to analysts from the analytics company Santiment, which spoke about this on its X (formerly Twitter).

They noted that there are now more mentions of asset sales on cryptocurrency forums than purchases.

“We have seen several such cases in the last 24 hours alone [упоминаний о продаже]including the highest ratio of negative to positive comments in 2024,” Santiment said.

Experts added that for “bold traders” this is a window in which some can make purchases when the crowd is angry and frustrated.

On the night of July 5, 2024, the Bitcoin rate fell sharply below $54,000. This happened against the backdrop of the news that the bankrupt crypto exchange Mt. Gox transferred 47,229 BTC to a new address and announced the start of payments to clients in Bitcoin and Bitcoin Cash.

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Source: Cryptocurrency

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