Be Careful of Crowd Greed as All-Time High is Teased
🥳 Monday has kicked off with a bang for crypto traders, as Bitcoin has quickly returned to $108K. After threatening to fall below $100K just 4 days ago, retail traders panic sold. Now, they are showing signs of flooding back in with the 2nd largest spike in FOMO in the past 2 weeks. Historically, markets will move the opposite direction of the retail crowd's expectations.
This chart is an excellent gauge to see how traders across social media are perceiving markets. In a sentiment-driven industry, using social media as a counter indicator has proven to be effective.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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