en.bitcoinsistemi.com
The ongoing declines in Bitcoin and altcoins, along with some bearish market signals identified by analysts, continue to worry investors.
However, Santiment analyst Brian Quinlivan stated in a YouTube video that there was no crash and shared his expectations for Bitcoin ($BTC), Ethereum (ETH), and $XRP.
Instead, he noted, it was overlooked as money flowed into precious metals due to global uncertainty.
The analyst said that most comments regarding Bitcoin were negative, with some even describing $BTC as a dead asset.
However, the analyst stated that this was completely untrue, noting that Bitcoin had only fallen by 10-12% in the past year, which he said was normal for the cryptocurrency market.
The analyst, noting that Bitcoin could recover quickly, added that the negative rhetoric is primarily due to disappointment, not panic.
The analyst also pointed to the rise in silver and gold, saying that these two assets are the focus of the market.
Interest in these two assets has diverted capital away from Bitcoin. However, according to the analyst, the widening gap between Bitcoin and gold may be paving the way for a strong future uptrend for $BTC.
“While individual investors are moving away from cryptocurrencies, long-term investors and large players are quietly accumulating cryptocurrencies.”
If fear intensifies and Bitcoin rapidly falls towards $80,000, this could create a strong foundation for a sharp recovery, as a rapid decline is more significant than a slow one, as it can trigger stronger buy signals.
Sentiment Neutral on Ethereum!
The analyst noted that Ethereum is following a very similar path to Bitcoin, experiencing further declines in recent weeks, but market sentiment remains neutral.
The analyst said that Ethereum is currently below its “neutral” valuation level, which is a positive sign for the price.
The Situation for $XRP is Mixed!
According to the analyst, although $XRP may experience a short-term decline, it is showing signs of a long-term uptrend.
“In the short term, $XRP has more FOMO (fear of missing out) potential compared to Bitcoin and Ethereum, which is generally not a positive thing.”
However, in the long term, based on valuation data, $XRP’s outlook remains solid.”
*This is not investment advice.