Cryptocurrency analytics firm Santiment has issued a warning in its latest analysis, despite the crypto community expecting a new all-time high price record (ATH) for Bitcoin.
According to the analytics firm, the crypto community may have to lower its expectations for a while longer before this record is broken.
According to Santiment, there are currently 1.8 bullish comments for every one bearish comment on Bitcoin on social media platforms. Historically, markets have often moved in the opposite direction of what communities expect, analysts explained.
However, another comment about the market was made by il Capo of Crypto, one of the well-known names in the industry.
A closer look at the BTC chart shows that the price is at a strong resistance level. The analyst said that a drop in the Bitcoin price to the $64,000 to $65,000 region would be a healthy move for the continuation of the bull market.
At the time of writing, the BTC price is trading at $65,827.
*This is not investment advice.