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Santiment: Cryptocurrency 'Buy the Dip' Discussion Surges, Potentially Signaling More Risk
BlockBeats News, August 31st, Santiment, an emotion analysis platform, stated that as Bitcoin falls, the mention of "buying the dip" on social media is on the rise, which may indicate that the cryptocurrency market has not bottomed out yet. Evidently, people in the market are starting to feel uneasy, trying to find some entry points as the price dips.
Santiment analysts said this could be a warning signal for the market. Do not interpret the discussion of "buying the dip" as a clear signal of the market bottoming out. The real market bottom is usually accompanied by widespread fear and a reduced interest in buying, often forming when the crowd loses hope and is afraid to buy. Price trends are usually contrary to the expectations of retail traders. History has shown that when more people think the market has bottomed out, it may actually indicate further decline.
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