The communities behind these two assets are euphoric, but Bitcoin and other cryptocurrencies must go through another recession cycle.
According to data shared by santimentoXRP and ethereum The community is looking forward to seeing better price performance for their favorite assets in the near future. Unfortunately, the other side of the market doesn’t feel so encouraging.
As suggested by on-chain data providers, asset movements in the market at this point are mostly independent, leading to an overall sentiment imbalance. Every time the cryptocurrency market community collapses, the industry as a whole loses momentum and makes recovery impossible.
😩 and #Crypt Market capitalization has bounced back quite a bit in an independent direction. $XRP & $ETH. Traders are less interested $BTC, $BNB& $ADA. Historically, #bearish Sentiment projects perform better on average. https://t.co/bU3eilpyty pic.twitter.com/fQyreiWjUa
— Santiment (@santimentfeed) January 8, 2023
Crowd euphoria over XRP and Ethereum could be a result of Ethereum’s short-term performance and a string of key strategic partnerships XRP, which led to a rise in positive attitudes among investors. Unfortunately, it’s hard to tell whether short-term euphoric trends among investors will lead to anything.
Interest rates offered for Bitcoin, BNB and Cardano will be lower, according to Santiment’s official account. Historically, the aforementioned assets have risen with the overall recovery of the industry, and the trends we are seeing today are likely to be temporary and will change over time.
At press time, the situation for the aforementioned assets was very similar, with none of these pairs showing signs of a major move ahead in the market and predicting where the market will move in the near term is technical. practically impossible.
Ethereum recently returned to a deflationary state. This could be a major factor in his second largest cryptocurrency in the market and its network. Traditionally, network activity has recovered and the majority of investors have returned to normal work and traditional schedules.