FOMO Sets in as Crypto Prices Plunge: Is It Time To Buy the Dip?
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- Traders were optimistic that now was a good time to purchase more crypto at a discount, Santiment revealed.
- The market cap of altcoins may reach $425 billion within the next three months, an analyst noted.
- Michaël van de Poppe mentioned that BTC’s momentum had slowed down and could give rise to ETH’s breakout.
Despite experiencing its fastest correction in the last 120 days, crypto traders are trying to capitalize on the widespread price drop, a Santiment post on X revealed. According to Santiment, the on-chain analysis tool, there has been a surge in “buy the dip” conversations between December 10 and the time of writing.
— Santiment (@santimentfeed) December 11, 2023
#Crypto has experienced its fastest drop in 4 months as markets have corrected and caused mild trader concerns. There is a high level of #buythedip calls, which typically means that there is a bit of overeagerness and #FOMO on these low prices. https://t.co/cC2hJmSibv pic.twitter.com/9XjMbXfill
Altcoins Are Ready To Dominate
One reason market participants are interested in buying the dip could be connected to previous performances. A few weeks ago, when Bitcoin (BTC) slightly d…
The post FOMO Sets in as Crypto Prices Plunge: Is It Time To Buy the Dip? appeared first on Coin Edition.
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