Santiment: Investors should be wary of the "bottom consensus" trap, as true market bottoms usually form when most people expect prices to continue falling.
BlockBeats News, November 15, crypto sentiment analysis platform Santiment pointed out that when numerous analysts and traders unanimously judge that the market has bottomed, the real bottom often does not form at that moment.
In its Saturday report, Santiment stated: "When there is a broad consensus in the market about a specific bottom price, caution is needed." It also emphasized that "the real bottom is often formed when most people expect prices to continue falling." The platform noted that after bitcoin briefly fell below 95,000 dollars along with a broad decline in tech stocks on Friday, discussions about the "market bottom" have become a trending topic on social media. "This indicates that many traders believe the worst phase is over," Santiment analyzed, but historical data shows that such sentiment is often followed by further declines.
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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