What spurred the latest market-wide dip? (Santiment Weekly Pro report)
After a month of nearly uninterrupted price growth and what’s virtually been a coin-agnostic rally, the crypto market once again finds itself in the middle of an industry-wide correction.
The price of Bitcoin has declined by -11.8% over the last 48 hours (dropping from a 3-year high of $19.3k), prompting a sea of red candles throughout the altcoin market and putting dreams of a new price ATH on the back burner.
The question, as always, is - why? Why did we dump here, and just as importantly, were there enough indicators that we’re approaching another price top ahead of time?
Our (bearish) track record
As it so happens, we at Santiment published not one but two bearish insights preceding the latest market retraction.
On November 24th (just a few hours before
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Years of market experience, compressed in each report
Since 2017, Santiment has been an industry leader in on-chain data, social intelligence and behavior-based analysis of the crypto market.
Our tools have a proven track record of timing price tops for cryptocurrencies, helping traders find profitable exit points and mitigate HODLing risk.
Our previous TOP calls:WAVES crowd sentiment patternMATIC charts a new ATH: is the top in?ICX insanity. How far could it go?
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