{"id":576127,"date":"2024-02-21T16:00:43","date_gmt":"2024-02-21T16:00:43","guid":{"rendered":"https:\/\/uniquehot.com\/?p=576127"},"modified":"2024-06-11T08:11:39","modified_gmt":"2024-06-11T08:11:39","slug":"bitcoin-fomo-spiked-green-signal-rally","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin-fomo-spiked-green-signal-rally\/","title":{"rendered":"Bitcoin FOMO Hasn’t Spiked Yet: Green Signal For Rally To Continue?"},"content":{"rendered":"

Data shows social media users aren’t yet showing FOMO around Bitcoin, a sign that the current rally could still have the potential to continue.<\/p>\n

Bitcoin Social Volume Hasn’t Been Too High Recently<\/h2>\n

According to data from the analytics firm Santiment<\/a>, the crowd FOMO that may be associated with a rally like BTC has seen recently hasn’t yet cropped up on social media.<\/p>\n

The indicator of interest here is the “Social Volume<\/a>,” which keeps track of the total amount of discussion any given topic or term is receiving on the major social media platforms right now.<\/p>\n

The metric measures this by counting up the posts\/threads\/messages that are making at least one mention of the given term. The reason it tracks the number of posts themselves rather than the mentions is so that a few threads with a significant number of mentions can’t skew the indicator by themselves.<\/p>\n

Related Reading: Solana, Chainlink Among Coins With Overheating Open Interest: Data<\/a><\/div>\n

When a topic truly receives widespread attention on social media, a large number of posts crop up as users across the platforms participate in talks. Mentions, on the other hand, can sometimes spike just because some niche circles decide to discuss the term.<\/p>\n

As such, measuring Social Volume through posts is what provides a better representation of the general trend being followed. Now, here is a chart that shows the trend in the indicator for terms related to Bitcoin and cryptocurrency:<\/p>\n

\"Bitcoin<\/p>\n

The value of the metric seems to have been subdued in recent days | Source: Santiment on X<\/a><\/pre>\n

As displayed in the above graph, the Bitcoin Social Volume hasn’t been too out of the ordinary recently, despite the sharp rally that the asset’s price has witnessed.<\/p>\n

Generally, the indicator tends to rise as rapid moves in the cryptocurrency take place since users get spurred to talk more about the coin. When discussions rise too high, though, it’s often a sign that FOMO<\/a> is increasing in the sector.<\/p>\n

Historically, Bitcoin has tended to move against the expectations of the majority, so such a rise in FOMO has often resulted in top formations for the asset. When discussions rise alongside a drawdown instead (that is, a signal that FUD is going up), a bottom rather takes place for the coin.<\/p>\n

From the chart, it’s visible that last month, the indicator registered a spike around the time of the spot ETF approvals, which coincided with the top, but such FOMO hasn’t reappeared for the coin yet.<\/p>\n

“Despite Bitcoin’s +74% price rise in 4 months, the crowd FOMO that would normally be associated with this kind of surge has not been present,” notes the analytics firm.<\/p>\n

Related Reading: Ethereum Breaks $2,900, But Watch Out For Futures Overheating<\/a><\/div>\n

“There was certainly an interest in BTC in the weeks directly before and after the SEC’s approval of 11 ETF’s, but the lack of new greed in the space can actually be considered a promising sign that this rally can continue,” explains Santiment.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has seen some pullback in the past day as its price has slipped under the $51,000 level.<\/p>\n

\"Bitcoin<\/p>\n

Looks like the price of the asset has gone down over the past day | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Bastian Riccardi on Unsplash.com, Santiment.net, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows social media users aren’t yet showing FOMO around Bitcoin, a sign that the current rally could still have the potential to continue. Bitcoin Social Volume Hasn’t Been Too High Recently According to data from the analytics firm Santiment, the crowd FOMO that may be associated with a rally like BTC has seen recently hasn’t yet cropped up on social media. The indicator of interest here is the “Social Volume,” which keeps track of the total amount of discussion any given topic or term is receiving on the major social media platforms right now. The metric measures this by counting up the posts\/threads\/messages that are making at least one mention of the given term. The reason it tracks the number of posts themselves rather than the mentions is so that a few threads with a significant number of mentions can’t skew the indicator by themselves. Related Reading: Solana, Chainlink Among Coins With Overheating Open Interest: Data When a topic truly receives widespread attention on social media, a large number of posts crop up as users across the platforms participate in talks. Mentions, on the other hand, can sometimes spike just because some niche circles decide to discuss the term. As such, measuring Social Volume through posts is what provides a better representation of the general trend being followed. Now, here is a chart that shows the trend in the indicator for terms related to Bitcoin and cryptocurrency: The value of the metric seems to have been subdued in recent days | Source: Santiment on X As displayed in the above graph, the Bitcoin Social Volume hasn’t been too out of the ordinary recently, despite the sharp rally that the asset’s price has witnessed. Generally, the indicator tends to rise as rapid moves in the cryptocurrency take place since users get spurred to talk more about the coin. When discussions rise too high, though, it’s often a sign that FOMO is increasing in the sector. Historically, Bitcoin has tended to move against the expectations of the majority, so such a rise in FOMO has often resulted in top formations for the asset. When discussions rise alongside a drawdown instead (that is, a signal that FUD is going up), a bottom rather takes place for the coin. From the chart, it’s visible that last month, the indicator registered a spike around the time of the spot ETF approvals, which coincided with the top, but such FOMO hasn’t reappeared for the coin yet. “Despite Bitcoin’s +74% price rise in 4 months, the crowd FOMO that would normally be associated with this kind of surge has not been present,” notes the analytics firm. Related Reading: Ethereum Breaks $2,900, But Watch Out For Futures Overheating “There was certainly an interest in BTC in the weeks directly before and after the SEC’s approval of 11 ETF’s, but the lack of new greed in the space can actually be considered a promising sign that this rally can continue,” explains Santiment. BTC Price Bitcoin has seen some pullback in the past day as its price has slipped under the $51,000 level. Looks like the price of the asset has gone down over the past day | Source: BTCUSD on TradingView Featured image from Bastian Riccardi on Unsplash.com, Santiment.net, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":576147,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,11680,90741,91702,6481,735,88101,1119,1144],"class_list":["post-576127","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-bullish","tag-bitcoin-fomo","tag-bitcoin-green-signal","tag-bitcoin-rally","tag-bitcoin-signal","tag-bitcoin-social-volume","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin FOMO Hasn't Spiked Yet: Green Signal For Rally To Continue?<\/title>\n<meta name=\"description\" content=\"Data shows social media users 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Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/uniquehot.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin FOMO Hasn’t Spiked Yet: Green Signal For Rally To Continue?","url":"http:\/\/uniquehot.com\/news\/bitcoin-fomo-spiked-green-signal-rally\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin-fomo-spiked-green-signal-rally\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?fit=5184%2C3456"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin bullish","bitcoin fomo","bitcoin green signal","bitcoin rally","bitcoin signal","bitcoin social volume","btc","btcusd"],"dateCreated":"2024-02-21T16:00:43Z","datePublished":"2024-02-21T16:00:43Z","dateModified":"2024-06-11T08:11:39Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin FOMO Hasn’t Spiked Yet: Green Signal For Rally To Continue?\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-fomo-spiked-green-signal-rally\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin-fomo-spiked-green-signal-rally\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?fit=5184%2C3456\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin bullish\",\"bitcoin fomo\",\"bitcoin green signal\",\"bitcoin rally\",\"bitcoin signal\",\"bitcoin social volume\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-02-21T16:00:43Z\",\"datePublished\":\"2024-02-21T16:00:43Z\",\"dateModified\":\"2024-06-11T08:11:39Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/02\/bastian-riccardi-rEoBwI7hNCU-unsplash.jpg?fit=5184%2C3456","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/576127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=576127"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/576127\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/576147"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=576127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=576127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=576127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}