Recent market corrections have led to a decrease in enthusiasm among traders, with discussions shifting from a “bull market” to a “bear market” mindset.to a two-month low of $60,000 and Ethereum tumbling below $3,000, has affected the general feeling of traders and investors.
According to the market intelligence platform Santiment, the phrase “bull market” is not so popular anymore among the crypto community, replaced by increasing “bear market” mentions. The Bitcoin Fear and Greed Index, representing the current sentiment of the crowd, has also headed south. Today , itthat the community’s bearish shift may indicate a bullish move for the crypto market since “historically, prices move in the opposite direction of mass traders’ expectations.”
“The quick dropoff of FOMO combined with a notable rise in FUD is a promising combination that cryptocurrency may see a recovery either right before the halving or shortly after,” the platform concluded.The event, ocurring roughly every four years, cuts the reward for mining blocks in half. The entrance of fewer coins into circulation makes them scarcer and potentially more valuable .
Another factor hinting that the primary digital asset may head north soon is the Bitcoin exchange netflow, which has been predominantly negative in the last week One Weekly Email Can Change Your Crypto Life.Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions.
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