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Crypto Twitter on Bitcoin still bearish

Crypto Twitter on Bitcoin still bearish

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TL;DR

Despite some stability in the market since the recent Bitcoin crash crypto Twitter on Bitcoin seems to be in bearish sentiments until date. The cryptocurrency market and volatility both go hand in hand. However, aside from the fluctuations in prices, the predictions and opinions in the crypto market also change rapidly.

For instance, a couple of days ago Bitcoin and the other cryptocurrencies experienced a severe nosedive, thereby, the price of the largest virtual asset plummeted to $3,600 on BitMEX. Suddenly, most of the popular influencers’ views changed from bullish mode to a bearish trend.

Constantly Changing Crypto Twitter on Bitcoin

A couple of weeks ago, Bitcoin (BTC) was enjoying its position at $10,000 mark, until the deadly coronavirus adversely impacted all the financial markets, including the crypto market, so all the financial markets plummeted.

As it often happens that when prices begin to fall, the collective ‘high’ opinions and expectations start falling. Those crypto influencers who had forecasted that the price of Bitcoin is never going to be less than $10,000 ever again, abruptly shifted their stance and are now determined that there is going to be yet another massive drop. Some of them are:

https://twitter.com/TheCryptoDog/status/1238757687137112065
https://twitter.com/Josh_Rager/status/1238678794791239680

Truth vs. Trending

Most of the crypto Twitter on Bitcoin influencers are just following the trend, as the prices spike, so does their opinion for that cryptocurrency’s price and vice-versa. These influencers are playing mind games with their audience.

Just like the populist leaders who want to get the attention of the masses to say all that what the masses want to hear, these influencers feed their followers with what they want to hear. So, traders should form their own opinion by studying and researching the market trajectory, rather than following some ‘popular ’clueless influencer.

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Taha Farooqui

Taha specializes in copywriting & translating texts. He aims to cover cryptocurrencies & blockchain in both English and local dialects in the Middle Eastern regions. He has helped write, translate, and localize the material related to cryptocurrencies and blockchain.

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