BCGAME - Free 5BTC Daily Bonus!Bitcoin recently took another leap, testing the $30.000 mark and rising to $30.240. BTC is currently trading near $29.908,95, up nearly 3% on the day. And with this movement, the mood in the cryptocurrency market became agitated. Altcoins – alternative cryptocurrencies to Bitcoin – started to move and show signs of vitality.
Santiment, a well-known cryptocurrency analysis company, decided to step in and released an interesting and, we would say, somewhat cautionary statement: “With Bitcoin crossing the $30.000 line, the market is buzzing! We are seeing particular optimism in cryptocurrencies like Solana (SOL), TON (TON) and Hedera (HBAR). But keep an eye out, investors! Keep an eye out for FOMO levels, especially if these prices continue to rise throughout the day.”
📈With # Bitcoin's push back above $30k instilling confidence in #crypto markets, many #altcoins are showing signs of life. keep an eye on #FOMO levels if prices continue pushing forward for the day, with $ SOL, $ TON, & $HBAR among the emerging assets creating #bullish stories. pic.twitter.com/n0YpmXvQP4
- Santiment (@santimentfeed) August 8, 2023
In addition to his observations on market sentiment, Santiment also shared a chart that showed which altcoins were really stealing the spotlight. And it's no surprise that SOL, TON and HBAR were there, standing out from the rest of the market.
But, Santiment was keen to stress a crucial point about Bitcoin: “Even with this rise, it is good to remain prudent. We are seeing a bullish take-off event, the most intense in over three weeks. On average, BTC addresses made a profit of +20% in the last year.”
Essentially, FOMO happens when investors see a cryptocurrency rapidly gaining in value and decide to buy it right away, without doing an in-depth analysis, afraid of missing out on the upward movement.
