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Crypto sentiment falls even as Bloomberg tips Bitcoin will hit $400K

Despite apparent sentiment shifts following this week’s price dip, experts are predicting Bitcoin will potentially reach $400,000 eventually.
Analytics company Santiment reports that cryptocurrency sentiment has fallen to near-record low levels for 2021 — even as some experts are doubling down on $400,000 Bitcoin’s price target.Sentiment nosedived following Bitcoin’s drop below $60,000 to its current price of $56,300 and Ethereum’s dip under $2,000 this week, according to Santiment. Ether is currently trading at $1,986 The crowd mood toward #Bitcoin and #Ethereum appears to have dropped to extreme negative territory after $BTC fell back under $60k & $ETH dipped back under $2k this week. Historically, buying during this level of #FUD & fear is a #bullish opportunity. https://t.co/u7LKbvoqSt pic.twitter.com/ZTxQFroEfM— Santiment (@santimentfeed) April 7, 2021
But other analytics platforms show a less convincing shift with crypto predictive data platform Augmento seeing sentiment slide from ‘bullish’ to ‘slightly bearish’. The Alternative Crypto Fear and Greed index meanwhile shows almost no change, with the counter still clearly sitting at “greed”Alternative Fear & Greed Index. Source AlternativeYesterday’s sell-off, which saw the entire cryptocurrency market cap drop briefly below $1.8 trillion before stabilizing around $1.9 trillion, doesn’t appear to bother seasoned analysts. Quantum Economics founder Mati Greenspan stated in his April 8 newsletter that the dip “took place on relatively low volumes.”Bitcoin price, real volume, and difficulty. Source: MessariHe noted that Bitcoin miners seem to have not even noticed the dip with the network’s hash rate reaching a new all-time high of 179 million exahashes, adding “ …
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