Bitcoin started the new week strongly, reaching $99,800. However, according to analysis by Santiment, investors are still not satisfied with this level and are looking for price targets of $110,000 and above.
In particular, the huge increase in price predictions of $110,000 and above on social media two weeks ago reveals that the market will not get excited until it sees higher prices.
According to Santiment, price movements in the crypto market often go against the expectations of retail investors. When bullish enthusiasm and “buy now” calls are prevalent on social media, this often indicates that it is a good time to take profits. Conversely, if fear and despair prevail on social media platforms, this is often considered a good opportunity to buy.
In this period when Bitcoin is pushing the $100,000 mark, investors are advised to act strategically by paying attention to the emotional reactions in the market. The increasing wave of euphoria in the crypto community can often be a precursor to price corrections.
Stay tuned