Crypto sentiment falls even as Bloomberg tips Bitcoin will hit $400K

Thursday 08 April 2021, 1:34 PM AEST - 1 week ago

Analytics company Santiment reports that cryptocurrency sentiment has fallen to near-record low levels for 2021 — even as some experts are doubling down on $400,000 Bitcoins price target.

Sentiment nosedived following Bitcoins drop below $60,000 to its current price of $56,300 and Ethereums dip under $2,000 this week, according to Santiment. Ether is currently trading at $1,986

The crowd mood toward #Bitcoin and #Ethereum appears to have dropped to extreme negative territory after $BTC fell back under $60k & $ETH dipped back under $2k this week. Historically, buying during this level of #FUD & fear is a #bullish opportunity. https://t.co/u7LKbvoqSt pic.twitter.com/ZTxQFroEfM

— Santiment (@santimentfeed) April 7, 2021

But other analytics platforms show a less convincing shift with crypto predictive data platform Augmento seeing sentiment slide from 'bullish' to 'slightly bearish'. The Alternative Crypto Fear and Greed index meanwhile shows almost no change, with the counter still clearly sitting at greed

a676eaf9-5f60-4303-89dc-ef3aec824890.pngAlternative Fear & Greed Index. Source Alternative

Yesterdays sell-off, which saw the entire cryptocurrency market cap drop briefly below $1.8 trillion before stabilizing around $1.9 trillion, doesnt appear to bother seasoned analysts. Quantum Economics founder Mati Greenspan stated in his April 8

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