According to Santiment data, social media mentions of “Bitcoin” are currently more positive than they have been in the past 16 months. This positive shift in sentiment aligns with Bitcoin’s recent price rebound, which has improved traders’ feelings to levels not observed in over a year.
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
This trend is based on the tracking of positive and negative comments about Bitcoin across social media platforms.
Bitcoin’s Price Rally Boosts Social Media Sentiment to 16-Month High
Santiment reported on July 27 that Bitcoin’s recent 20% price rally over the past three weeks has significantly increased traders’ bullish sentiment. Currently, Bitcoin (BTC) is trading at $67,708, up 6.22% since July 25, according to CoinMarketCap data.
Source: X/Santiment
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
The firm highlighted that its Weighted Sentiment Index, which measures Bitcoin mentions on X and compares positive to negative comments, has reached a 16-month high in positive sentiment. The ratio of positive versus negative comments about BTC has surged to its highest level since March 2023, as Bitcoin’s all-time high comes back into focus.
Surge in Bitcoin Sentiment Following Trump’s Speech and New Legislation
The recent spike in positive sentiment around Bitcoin has been fueled by anticipation leading up to former US President Donald Trump’s speech at the Bitcoin 2024 Conference in Nashville on July 27. Trump outlined his vision to transform the US into the “Crypto capital of the world” and predicted that Bitcoin might one day surpass gold in value. He praised Bitcoin as “not just a marvel of technology, but a miracle of cooperation and human achievement.”
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
In the wake of Trump’s speech, pro-crypto Senator Cynthia Lummis introduced a bill proposing a “strategic Bitcoin reserve.” This bill suggests that the US government should acquire 5% of the world’s Bitcoin supply and hold it for at least 20 years.
Additionally, the Crypto Fear and Greed Index has reflected this growing optimism, showing a “Greed” score of 71, which is up 24 points since June 28.
Bitcoin Sentiment Shift: From Fear to Greed in Just One Month
Just a month ago, the Weighted Sentiment Index revealed a surge in negative comments about Bitcoin, coinciding with its price being 4% lower at around $65,000 on June 21. Santiment noted on June 20 that this extended period of fear, uncertainty, and doubt (FUD) was unusual, with traders showing signs of capitulation.
30X Expected Profit from AIG Token: AI Games has launched its native token (AIG). 1 AIG Token Price Is $0.01 Exchange Lsiting Price $0.27 To $0.30, Don’t miss this opportunity; join the pre-sale at the official website [ PlayAiGames.Online ]
The prevailing sentiment at that time was one of fear or disinterest, as Bitcoin’s price fluctuated between $65,000 and $66,000. This shift contrasts sharply with the current positive sentiment and price surge, highlighting a significant change in market perception over the past few weeks.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
#BTC #Bitcoin #Crypto #RobertKennedyJr #BitcoinConference2024 $BTC $ETH $DOGE
