Despite the 60% fall in Bitcoin price, the Crypto Twitter is still optimistic. This is the conclusion of the behavioral analysis platform Santiment, which analyzes a myriad of crypto-related posts on various social media platforms to help investors capture the general sentiment of the market.
The last three months have understandably seen the sentiment of #crypto drop significant, as prices surged to $ 10,300 and fell all the way below $ 4,000 during Black Thursday. However, on Twitter at least, our social graphs on are tracking that positive sentiment has written pic.twitter.com/SU8xQVvKCK
- Santiment (@santimentfeed) March 28, 2020
“Crypto psychology in 3 last month Has dropped significantly when the price go up to $ 10,300 and fall below $ 4,000 on day Black Thursday Dark. However, at least on Twitter, the charts showing that market sentiment is still in a state positive”.
BOh Calm like a tank
After the historical price cut on March 12, there was a strong growth in both positive and negative sentiment. While bear lovers like Peter Schiff and Nouriel Roubini gloat, some bulls see this as an opportunity to accumulate more BTC when discounting.
Digital Currency Group Barry Silbert bought more BTC because that's exactly why it was created.
I'm buying. This is why bitcoin was invented
- Barry Silbert (@barrysilbert) March 12, 2020
“I am buying Bitcoin. This is why Bitcoin is invested. ”
Besides, searches for 'buy Bitcoin' on Google soared to an eight-month high, outperforming gold.
Outside of Crypto Twitter
However, Santiment also mentioned that people outside of Crypto Twitter are not very fond of cryptocurrencies. Negative psychology has been dominant on both Discord and Reddit since ‘Dark Thursday.’
well above negative sentiment despite of the volatility being caused by this pandemic. Other platforms, as we can see on https://t.co/r9exHfU30o, are a bit more negative right now. $ BTC and other projects can show a clear buy signal when negative keywords are overtaking positive pic.twitter.com/AqEOSJyXXh
- Santiment (@santimentfeed) March 28, 2020
"Mentality product Extreme despite fluctuations by pandemic. Other platforms as we can see on http://graphs.santiment.net/social are currently a bit more negative. BTC and other projects may show a clear buy signal when the negative keywords are crossed key word positive”
‘The risk factor' of the Bitcoin may be attractive in the context of the bond market crash
Global financial markets have been unable to cope with the worldwide health crisis.
The Corona pandemic has become an inevitable reality at this time, both traditional and digital assets have failed radically and cannot recover significantly.
In the episode Keiser Report latest, the host emphasized the current situation of the bond market in the context of spreading COVID-19. He also discussed the chart by senior business editor Holger Zschaepitz at the German news agency Welt about how serious the value of global bonds has dropped over the past few weeks.
Global bonds, often referred to as "safe haven assets," have been severely damaged and its valuation dropped to $ 5K billion, a figure equivalent to Japan's GDP. At the same time, investors around the world are still worried about new debt as governments prepare fiscal stimulus.
Because of this, Keizer continued to make a bold statement. According to him, the bond market is a bigger illusion than Bitcoin.
"The biggest bubble in the world economy is not Bitcoin. It is definitely nor is it is gold. That is the bond market. Yes, the sovereign bond market. Tof course, tThe bond market will return normal. It will restore long-term trend 5-6% on 10-year sovereign bonds”.
"They will need a big bailout, major restructuring, mass layoffs, but this is the price to pay for blowing this giant bubble. This is the result of a bubble burst. ”.
Whether negative yield of The bond market has awakened the risky nature of Bitcoin?
Bonds on the list of low-risk assets and low yields; Therefore, many have speculated that it may act as a hedge in the current market.
According to Deutsche Bank, 27% of bonds in the world have negative yield with a total market value of ~ $ 15 trillion or roughly 100x of #Bitcoin'S market cap and 2x #gold'S market cap. pic.twitter.com/Uxm0BEJFtC
- Gabor Gurbacs (@gaborgurbacs) March 7, 2020
"According to Deutsche Bank, 27% of bonds in the world have negative yields with a total market value of ~ 15 trillion dollars or approximately 100 times the market cap of Bitcoi.n and 2 times Market capitalization yellow”.
Although Bitcoin has recently functioned exactly as a 'safe haven', given the current negative yields on the bond market, it's likely that the risk-taking nature of Bitcoin will return.
When some stimulus plans go into effect, liquidity will be brought into global finance in the next few weeks, but negative yields will only increase debt-based spending in the market.
Investors may continue to be absorbed in bond trading, but it is possible that certain retail investors invest in Bitcoin because it has significant potential for higher and faster returns.
According to AZCoin News
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