Bitcoin moves in the “opposite direction of retail’s expectations,” which may lead to a price surge lag, Santiment analyst Brian Quinlivan tells Cointelegraph.
The market’s expectation of Bitcoin surging to new highs could prevent it from happening in the near term, but that doesn’t rule out the possibility of Ether surprising investors, analysts say.
Santiment analyst Brian Quinlivan told Cointelegraph on Wednesday that the analytics firm is “seeing an anticipation for Bitcoin’s next ‘all-time high’ across social media. Since markets move the opposite direction of retail’s expectations, this usually is a sign that we aren’t quite ready for another bullish surge yet.”
Quinlivan suggested the lack of doubt has proven that all-time highs tend not to follow, but with Bitcoin (BTC) having verged on all-time highs a handful of times now, sentiment has moved into a lower position to propel Bitcoin above its current peak.
