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Sentiment in online chatter correlates with price movement. It becomes a feedback loop. Maybe the criticism is finally overwhelming people's risk functions.
by nefitty 5y ago
Sentiment in online chatter correlates with price movement. It becomes a feedback loop. Maybe the criticism is finally overwhelming people's risk functions.
- netcan 5y agoOr the reverse... price drops make people more open to "crypto is bullshit" arguments.
- fzzzy 5y agoWhy not both?
- matheusmoreira 5y agoThis is probably right. Bitcoin is down over 50% from ATH and continues to fall. People are probably confused and in panic.
- nefitty 5y agoMy mistake for the lack of clarity. That's what I mean to imply.
- fullshark 5y agoMy point is there's not even evidence to support online chatter turning negative. Any topic that is polarizing and growing in terms of chatter will produce more positive/negative blogposts and youtube videos. I could write this blogpost substituting in anti-vax sentiment for example pretty easily.
- nefitty 5y agoI didn't assert whether sentiment was changing or not, just sharing the pattern in case someone reading hadn't thought of it. Sentiment is easy enough to check. I'm not doing crypto homework though.
- crent 5y agoIt's also correlated with fed talks of rising interest rates which tends to coincide with capital moving from risk-on assets to risk-off assets. Growth tech stocks are taking quite a hit too.