Santiment, a crypto analytics company, is determining what catalysts will trigger the next digital asset bull.
Santiment points out in a new analysis that as markets rise, social media conversations about crypto assets tend to be more focused than they are currently on Bitcoin (BTC).
According to the analytics firm, 1/6th to 1/8th of crypto asset discussions were centered around Bitcoin in 2022’s second half. However, this number is usually 1/5th under ideal market conditions.
Let’s see if trader interest in Bitcoin rises above the break-even point, as shown in the chart. This signal, together with a degree of distrust in exchanges diminishing as time goes on and (hopefully), justice being served against the former FTX founders, should lead to a rebound as we enter a new year.”
At the time of writing, Bitcoin was trading at $16,726. The crypto asset that is currently the top-ranked is trading at $16,726 as of writing. This is more than 75% lower than its record high of over $69,000 in November 2021.
Santiment noted that 2022 was the “Accumulation Year” of Bitcoin’s four-year cycle.
“2014-2018, 2022 and 2022 were all historical difficult years in the 14-year history of Bitcoin’s existence.
It’s not a coincidence that all of them came after super-bullish years (2013, 2017, and 2021). Although it is not possible to predict whether prices will move up or down, it has become quite predictable.”
About the Author
Chris Munch is a professional crypto writer, researcher, and journalist with extensive experience in the cryptocurrency and blockchain space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. He has written numerous articles and research papers on a variety of topics, including market analysis, investment strategies, and the latest developments in the industry. With a background in finance and economics, Chris has a deep understanding of the economic and financial forces that drive the crypto market. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers. In addition to his writing, Chris is also a sought-after speaker and commentator on crypto and blockchain-related topics. He has appeared on numerous podcasts, webinars, and other events, sharing his knowledge and expertise with audiences around the world.
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