📊 Bitcoin ATH Unlikely When Social Sentiment Is Excessively Heated — Santiment

Santiment, a well-known analytics resource, stated that Bitcoin is unlikely to reach new all-time highs (ATH) if social sentiment is too heated 😬. When the market gets overheated and people are too optimistic, corrections often follow.

Why does this happen?

1. When there is too much positivity, many investors start to Fear of Missing Out, which leads to sudden purchases without a real assessment of the market. 📈

2. A large amount of positive emotions sometimes signals an upcoming overbought condition, which can push the price down. 🔻

🎯 Advice from Santiment: If you see Twitter and other social networks overflowing with rosy forecasts, be careful. Sometimes, as history shows, real strength in crypto is manifested during periods of calm and pessimism.

While we are at this point, it might be worth taking a wait-and-see approach and keeping a close eye on social metrics. Don't let your emotions get the better of you! 😉

#Bitcoin#CryptoNews #BTC