The analysis company Santiment reports that sentiment for cryptocurrencies has fallen to near low near the 2021 record, although some experts have doubled the price of bitcoin (BTC) by $ 400,000.
Sentiment said sentiment fell after Bitcoin fell below $ 60,000 to the current price of $ 56,300, and Ether (ETH) fell below $ 2,000 this week. Ether is currently trading at $ 1998.
However, other analytical platforms show a less convincing shift: cryptocurrency platform for Augmento shows a decline in sentiment from bullish to slightly bearish. Meanwhile, the Alternative Crypto Fear & Greed indicator shows almost no changes, and the counter still shows “greedy”.
Alternative index of fear and greed. Alternative source
Yesterday’s sale, where the market value of all cryptocurrencies briefly fell below $ 1.8 trillion and then was around $ 1.9 trillion, does not seem to bother experienced analysts. Matt Greenspan, the founder of quantum economics, said in his April 8 newsletter that the recession “happened in relatively small amounts.”
Bitcoin price, real size and difficulty. Source: Messari
He noted that it appears that bitcoin miners did not even notice the decline when the network fragmentation rate reached a whole new high of 179 million exchanges, adding that miners are still hoarding bitcoins instead of selling them back. market. This is often taken as a sign that they expect higher prices.
History shows that BTC has just launched
A report by Bloomberg Intelligence strategist Mike McGlone was released on Monday, predicting that Bitcoin will approach $ 400,000 based on previous Bitcoin collections, adding:
“In September, 180-day cryptocurrency volatility almost coincides with its lowest time since October 2015. Compared to the average price for that month, bitcoin grew by just over 50 times to its peak in 2017.”
Although it does not specify a specific time frame for reaching this peak, the report says that over the next quarter “the price is likely to break through $ 60,000 resistance and move towards $ 80,000.”
The Bitcoin Analytics account tweeted Ecoinometrics as historically the price of BTC has risen between 300 and 350 days compared to the previous half. It’s now 329 days since the last half hour. If something like the previous halving happens, Bitcoin’s price could exceed $ 700,000 in May next year … or fall below $ 40,000.