According to analytics data provider Santiment, recent crowd sentiment shows that the prices of the top six cryptocurrencies, including Bitcoin, Ethereum, BNB, as well as trendy SOL and ADA, are facing up a large amount of FUD (fear, uncertainty, doubt) and a downtrend at the moment.
😟 Have we gotten low enough where there is “blood in the streets”? According to crowd psychology, there are quite a few #FUD & #bearishness because the $BTC, $ ETH, $BNB, $ SOL& $ ADA. As illustrated by this chart, negativity most commonly correlates with bounces. https://t.co/mndr94gDJg pic.twitter.com/BNasCuulTV
– Santiment (@santimentfeed) January 8, 2022
All of these top cryptocurrencies have experienced significant losses, after Bitcoin recently dropped more than 8% from $46,500 to the $42,000 region. Ethereum follows BTC, dropping below $3,200.
According to this article, the top cryptocurrency is changing hands at $41,983, Ethereum is at $3,230. After hitting a peak of $569 for BNB on December 27, the coin is now trading at $457. SOL hit $203 on Dec. 27 but has since dropped more than 50% to the $146 mark.
As for Cardano’s ADA, it’s starting in 2022 rising to $1,380 from a low of $1,287 on Dec. 31. ADA’s January high to date is $1,384 on Jan. 2. To date, the coin has dropped to 1.248, losing almost eight percent from $1,349. reached on January 5.
Meanwhile, the Bitcoin Fear and Greed Index shows 10, indicating “extreme fear” in the crypto market. According to prominent Chinese crypto journalist Colin Wu, this is the lowest level since July 21 of last year.
However, many consider this to be a good opportunity to buy at a discount.
U.Today reminds the crypto community that they should do their own research into the crypto space. Cryptocurrency prices can show extreme volatility, so one must not spend more on them than one can afford to lose.
The Crypto Fear and Greed Index fell to 10, its lowest level since July 21, 2021. pic.twitter.com/ZNbTnuH3cb
– Wu Blockchain (@WuBlockchain) January 8, 2022
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