The cryptocurrency analysis firm Santiment conducted a study on investor sentiments in the crypto market, revealing notable differences between Bitcoin and Ethereum.
Investor Sentiments Regarding Bitcoin
According to Santiment's data, there has been a significant increase recently in the ratio of phrases like 'higher' or 'above' to 'lower' or 'below' regarding Bitcoin's price on social media. This increase in 'greed' for BTC coincided with a new all-time high and a local peak.
Comparison with Ethereum
Despite Ethereum's strong performance over the past three months, its investor base has not shown the same level of optimism as that of Bitcoin.
Market Prospects
The company's analysis suggests that market prices often tend to move against retail investors' expectations. This may indicate a more positive price movement potential for Ethereum compared to Bitcoin. Santiment noted that the low 'buy the dip' interest, particularly on the ETH side, could leave room for upward price movement.
Santiment's study highlights the differences in investor psychology towards Bitcoin and Ethereum, which may influence future price trends in cryptocurrencies.
