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

Summary (IA Generated)

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 Bitcoin’s price target.

Sentiment nosedived following Bitcoin’s drop below $60,000 to its current price of $56,300 and Ethereum’s dip under $2,000 this week, according to Santiment.

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.

The Alternative Crypto Fear and Greed index meanwhile shows almost no change, with the counter still clearly sitting at “greed”.

Alternative Fear & Greed Index.

Source Alternative.

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Bitcoin price, real volume, and difficulty.

From that month‘s average price, Bitcoin increased a little over 50x to the peak in 2017”.

Although it doesn’t give a specific time-frame for when this peak might be achieved, the report does specify that over the next quarter the price is likely to “breach $60,000 resistance and head toward $80,000.

Bitcoin analytics account “Ecoinometrics” tweeted that historically, the BTC price broke out between 300 to 350 days from previous halvings.

If it plays out anything like previous halvings next May could see a Bitcoin price past $700,000.

Bitcoin price prediction.

Source: Twitter.