Is It Time to Buy the Bottom in Bitcoin and Altcoins? Santiment Explained!

While the decline in Bitcoin and altcoins makes investors nervous, on the other hand, the expectation of an increase in the market continues.

While different opinions emerged about the recent decline, whether the decline will continue or the rise will begin with the recovery, the latest assessment came from Santiment.

Accordingly, Santiment stated that although there was an alarming decline in BTC and altcoins, investors remained strong and the upward expectation continued.

Santiment argued that the opportunity to buy the bottom in Bitcoin and altcoins will come when the community is more negatively sentimental, that is, speaking more bearish words.

“Bitcoin has seen a decline to $66,400 and prices of altcoins continue their alarming pullback from April.

Despite the decline in BTC and altcoins, investors remain quite strong and remain confident in the possibility of a rapid recovery.

bullish words like buy , buying , and bullish ; It is spoken about twice as often as bearish words such as sell , selling , sold , or bearish .

Historically, the best dip buying opportunities occur when the community overall shows some fear of further declines. In other words, the bottom opportunity usually occurs when investors speak more bearish words and are afraid of the decline.

“When we see the red bars (representing bearish, negative sentiment) start to catch up with the blue bars (representing bullish, positive sentiment), there will probably be a definitive moment where the bottom opportunity presents itself.”

📉 #Bitcoin has seen a drop to $66.4K, and #altcoins have shed much more of their market caps as prices have continued their concerning retracement to kick off April. However, the crowd is staying quite strong and showing confidence toward the prospects of a quick rebound.

The… pic.twitter.com/tbGmtmTNIb

— Santiment (@santimentfeed) April 2, 2024

*This is not investment advice.