Analyst Matthew Hyland states that the prevailing crypto market sentiment is not convincingly bullish.
Hyland calls the market an “echo chamber” where the mood swings wildly.
The analyst states that the crypto community is currently less bothered about the market compared to 2021.
The current market sentiment, with Bitcoin trailing towards its all-time high of $73k, industry experts and analysts speculate a bullish trend emerging. However, analyst Matthew Hyland cautions that the prevailing sentiment is not convincingly bullish yet. He addressed the crypto market as an “echo chamber” where the mood swings wildly.
1) I don't think the sentiment is that bullish currently
2) The current participants is about 1/10th of what it was in 2021 and probably 1/2 of what it was earlier in the year
3) No one cares about #Crypto currently and many people who bought in 2021 think its dead still
— Matthew Hyland (@MatthewHyland_) October 18, 2024
According to the latest CoinMarketCap data at press time, the top 10 cryptocurrencies are experiencing a positive sentiment despite some fluctuations. For example, Bitcoin is trading at $68,391, with a notable 9.6% increas…
The post Analyst Calls Crypto Market an “Echo Chamber”: Here is Why appeared first on Coin Edition.
