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As the moments change from winter to spring, will all elements that follow the atmosphere create a positive influence and feeling on investor sentiments? There is data to give some direction.
Can Spring Be Too Distant When Winter Is Here?
In the early hours of the 13th of March, there was a report from Santiment that showed the mood of investors towards price expectations in the crypto market. The examined market sentiments for BNB, Bitcoin, and XRP all turned out positive, but it was still under 0.1. Even at that, Santiment’s theory was that the data gives a sign that there are bullish intentions from traders towards the digital assets. But at the time of compiling this piece, Bitcoin’s measured sentiment fell back to negative zones, and it eventually got to clock in at -0.614.
The market sentiment over Bitcoin had initially taken a sharp slope to sub-zero zones when the coin’s price fell from $44,000, indicating that uncertainties in the market were not coming to an end anytime soon. In the meantime, it looks like Bitcoin has a lot of levels of resistance to break before satiated investors begin to have a response to any euphoria going on.
Boundless and Fast
As BNB has continued to follow the price performance of Bitcoin in the crypto market, the general sentiment for the token was over 1.0. But then, a peep at the recent past reveals that BNB has a natural phenomenon of brief euphoric increases, which will be swiftly followed by a long period of relatively negative market sentiments.
As for XRP, the token witnessed a rally of more than 15%, likely aided by the Judge in the SEC vs. Ripple Labs case who denied the SEC’s appeal to strike out Ripple’s Fair Notice. As a matter of fact, the market sentiment for XRP has been domiciled in the positive zone since roughly the 7th of March, and it was at 1.337 at the time of putting this report together.
This happened in spite of the price gain around XRP hiking to levels witnessed since late February. Nevertheless, as investors’ excitement over XRP has been accompanied by drastic price falls, those investors will have to watch out for both court updates in the legal process as well as on-chain activities going on.
Whereas, Santiment reported that Polkadot witnessed a fall from positive zones to the negative despite the fact that its price rose, and it had an onboarding for new para-chains on its platform. Market sentiments for Polkadot, however, have been mainly on the negative side since December 2021.