Bitcoin Market Isn’t Showing Any Interest In Buying This Dip
According to data from the on-chain analytics firm Santiment, the kind of FUD that’s present in the Bitcoin market right now has historically provided good opportunities for the asset.
The indicator of interest here is the “social volume,” which measures the total amount of social media text documents that are currently talking about a given topic or term (like the name of a cryptocurrency).
The text documents here are a collection of text-based posts that Santiment has amassed from some popular social media websites like Reddit, Twitter, and Telegram.
To know whether one of these posts is talking about a topic or not, the metric runs a check against the term and finds if there is at least one mention present in the said document.
The condition of being just one mention means that posts that contain the term several times still carry the same weight as one that does it only once. The reasoning behind this restriction is that it provides for a more accurate representation of the trend in the market, as a few users can’t easily skew the figure.
