Yahya 
Based on on-chain analytics company Santiment, Bitcoin might not reach a new all-time high soon as crypto market mood reaches its highest for months. On Sept. 30, Santiment advised market players to lower their expectations regarding a Bitcoin price increase. The platform found that there is only one pessimistic post for every 1.8 optimistic post on Bitcoin.
Traditionally, markets go opposing the direction of public opinion. The current mood may indicate a possible downturn given Bitcoin’s price rising consistently from below $58,000 on Sept. 17 to above $66,000 on Sept. 28.
Rising around 12% thus far, Bitcoin is on course to show its best-ever September increases. Some analysts remain cautions even with this encouraging momentum. Chief security officer Jameson Lopp of Casa observed that even mainstream media now presents a more favorable view of Bitcoin.
With a score of 61 as of Sept. 30, the Bitcoin Fear and Greed Index also has returned to “greed” levels. This is a dramatic change from previous in the month when the index fell into “extreme fear” zone at 22.
Around 12.6% down its March all-time high of $73,734, Bitcoin is trading at $64,406 at the time of publishing. Early trading on Sept. 30, however, shows a clear 2% drop in asset value, implying the market might be temporarily unstable.
You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don’t forget to follow us on our Telegram, YouTube, and Twitter channels for the latest news and updates.