A recently published analytics report shows that some of the top ten cryptocurrencies are facing strong bearish sentiment and FUD
According to analytics data provider Santiment, recent crowd sentiment suggests that the prices of the top six cryptocurrencies, including Bitcoin, Ethereum, BNB, as well as the trendy SOL and ADA, are fueled by significant amounts of FUD (fear, uncertainty, doubt). is facing. ) and recession at the moment.
Have we dipped so low that “there’s blood in the streets?” According to the spirit of the crowd, there is enough #FUD And #recession For $BTC, $ETH, $bnb, $sol, And $ada, As shown by this chart, negativity correlates with the most upside. https://t.co/mndr94gDJg pic.twitter.com/BNasCuulTV
— sentiment (@santimentfeed) 8 January 2022
All these top cryptocurrencies have experienced significant losses after bitcoin recently declined over 8% from the $46,500 level to the $42,000 region. Ethereum follows BTC, drops below $3,200.
At the time of this writing, the leading cryptocurrency is changing hands at $41,983, with Ethereum sitting at $3,230. After BNB hit a high of $569 on December 27th, the coin is now trading at $457. The SOL peaked at $203 on December 27, but has since fallen more than fifty percent to $146.
As for Cardano’s ADA, it rose from a low of $1.287 on December 31st to $1.380 in early 2022. The all-time high price of ADA in January was $1.384 on January 2. So far, the coin has fallen to $1.248, down about eight percent from $1,349. Arrived on 5 January.
Meanwhile, the Bitcoin Fear and Greed Index shows 10, indicating “extreme fear” in the cryptocurrency market. According to popular Chinese crypto journalist Colin Wu, this is the lowest since July 21 last year.
However, many see this as a good opportunity to buy a dip.
U.Today reminds the crypto community that they should do their own research in the crypto space. Crypto prices can show extreme volatility, so one should not spend them on something that can afford to lose more than one.
The Crypto Fear and Greed Index fell to 10, the lowest level since July 21, 2021. pic.twitter.com/ZNbTnuH3cb
— Wu Blockchain (@WuBlockchain) 8 January 2022