Hi everyone,Bitcoin charged passed the $13,000 level as PayPal announced full support for various cryptocurrencies to its 350 million-plus users in the first quarter of 2021.The news caused a major sentiment shift among traders and investors in the space, which has been indicative of trend turning points in the past.As greed grips the crypto markets, what does the technical data tells us?Let\u2019s dig in.Analytics from santiment \u2018crypto twitter\u2019 has pulled the biggest u-turn in its decade-long history, shifting from negative to euphoric in a few days.1) After #Bitcoin surged from $10.5k to $13.1k over the past three weeks, the social sentiment of #crypto #Twitter has done one of the biggest 180 turns in its decade-long history. The ratio of positive vs. negative commentary (combined with total volume of social posts) was at pic.twitter.com\/fJi0Abldf1- Santiment (@santimentfeed) October 26, 2020The analytics firm added that all-time negative levels occurred on October 3rd, which was reflected by a major uptick in bitcoin shorts (i.e. traders betting against bitcoin).The chart measures bitcoin weighted social sentiment and was in negative territory for the month of October, more so than during the dip that followed the corona-crash in mid-March.Analyzing the metric in late September, Saniment pointed out a trend it noticed in its analysis:\u201cPrices of BTC and other crypto assets tend to bounce most precipitously when the crowd is demonstrating a high level of FUD. This is exactly what we\u2019ve been seeing for Bitcoin, Ethereum, and many altcoins following the early September retrace.\u201dThat bounce occurred on October 21 when bitcoin surpassed $12,000 for the first time in almost two months and surged to a new 2020 high of $13,350 five days later.Other sentiment indicators have also seen this major shift. In fact, the fear and greed index has pivoted into greed territory, standing at 75.All in all,\u2026<\/p>","protected":false},"excerpt":{"rendered":"
Hi everyone,Bitcoin charged passed the $13,000 level as PayPal announced full support for various cryptocurrencies to its 350 million-plus users in the first quarter of 2021.The [\u2026]<\/span><\/p>","protected":false},"author":0,"featured_media":2531,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2530"}],"collection":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/comments?post=2530"}],"version-history":[{"count":0,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/posts\/2530\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media\/2531"}],"wp:attachment":[{"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/media?parent=2530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/categories?post=2530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/afluxcoin.com\/es\/wp-json\/wp\/v2\/tags?post=2530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}