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Santiment: Investors Should Beware the "Bottom Consensus" Trap; the true bottom is usually formed when the majority expects the price to continue to fall.
BlockBeats News, November 15th, the crypto sentiment analysis platform Santiment pointed out that when many analysts and traders all agree that the market has bottomed out, the actual bottom is often not formed at this moment.
In its Saturday report, Santiment stated: "When you see a wide consensus in the market on a specific bottom price level, caution is needed." It also emphasized that "the real bottom is often formed when most people expect the price to continue to decline." The platform pointed out that after Bitcoin briefly dropped below $95,000 on Friday along with a general dip in tech stocks, discussions on "market bottom" on social media have become a trending topic. "This indicates that many traders believe the worst phase has ended," Santiment's analysis said, but based on historical data, such sentiment is often followed by further declines.
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