Bitcoin price unexpectedly rose to over 667,000 for the first time in May.
Sentiment reached its most optimistic level since May 1. This important shift coincided with the recent surge.
Fear of missing out on something (FOMO) could jeopardize the sustainability of current growth.
#MemeWatch2024 has had an exciting adventure in 2024. It hit an all-time high on March 3, but couldn't stop for weeks after that. The 4-month price halving event was seen as a potential rocket launch, but instead it was all wasted. However, bitcoin could make an unexpected reversal, so hold on to your mining rig.
Last week, bitcoin unexpectedly broke the $1 mark for the first time in nearly 67,000 months. What's even more intriguing? It's not just an unexpected spike. This price spike seems to have caused a major shift in people's attitudes toward #cryptocurrency .
Imagine a huge online survey on sentiment towards Bitcoin. That's actually what Santiment, a #blockchain analytics company, offers. Their "weighted sentiment" metric tracks overall sentiment towards Bitcoin, positive or negative. It takes into account two main components: the number of social media conversations and overall emotion (emotion score).
Sentiment scores rise as social media conversations about bitcoin become heated and the overall tone becomes upbeat. According to sentiment, sentiment towards Bitcoin has reached its most optimistic level since January, helped by recent price increases.
A Qatar resident working in digital technology watches Hedera.
Jim Cramer poses in a clown hat and with a shiny bitcoin chain, smiling confidently.
Modern 3D illustration showing a cell phone, 2 smiling people with a percent sign and a bubble on a mountain background.
Comparing cryptocurrency exchange fees in 2024: who has the lowest transaction fees?
This surge of optimism is comparable to the euphoria after the U. S.
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