Bitcoin’s upward trend may not continue if public sentiment remains too optimistic, according to data from Santiment. The cryptocurrency research firm suggests that a “bull run” for Bitcoin is unlikely as long as social sentiment remains excessively positive.
Santiment’s analysis indicates that extreme positivity among cryptocurrency investors could potentially lead to a market correction. This is based on the premise that overly optimistic sentiment often precedes a downturn in prices.
While Bitcoin has experienced significant price gains in recent months, Santiment warns that a sustained bull run may be unsustainable if sentiment continues to be overly bullish. Investors should be cautious and mindful of the potential risks associated with excessive positivity in the market.
In conclusion, Santiment’s data suggests that a Bitcoin bull run may not be sustainable if social sentiment remains too hot. It is important for investors to exercise caution and remain vigilant in the face of excessive optimism in the cryptocurrency market.