The DeFi-induced bullrun has arguably pushed the crypto market upwards the past week, with Bitcoin, Ethereum, og andet større kryptokurver giving gains of over 10-15 percent to investors.
Data feeds from one quantitative on-chain data provider prove the above, with sentiment metrics, in particular, paving the path for even higher prices.
Bitcoin public sentiment increases
Data om Båndet — a provider of alternative data for digital assets that quantifies investor perceptions on hundreds of digital assets — shows Bitcoin is showing bullish action in both short- and mid-term trades.
Diagrammet nedenfor kortlægger den "langsigtede sentiment-score" med Bitcoins pris, hvilket viser, at sidstnævnte lige er begyndt at indhente den offentlige opfattelse af det banebrydende digitale aktiv:
Stemningen forblev stabil, selv da Bitcoin led den berygtede "Black Thursday"-begivenhed i marts, hvor priserne faldt med over 45 procent over to handelssessioner. Men offentlighedens opfattelse voksede stabilt siden, med priser, der fangede på for at afspejle metrikken.
Bare ved at gå efter dataene alene - Bitcoin har stadig ikke konvergeret med den langsigtede offentlige stemning. Et "gab" er stadig tilbage, hvilket viser, at BTC er undervurderet i henhold til denne særlige metrik.
Meanwhile, another chart shows the Twitter-verse is starting to be less concerned about Bitcoin’s price. Tweet dominance is just 42 percent even as prices go up. This can be attributed to the rise of Ethereum, Defi, and DEX-based altcoins in recent weeks — with the trio featuring massive retail interest after some tokens surged 1000x in a few days.
U.S. high-income earners pile into crypto
The sentiment metrics followed yesterday’s report of American high-income earners, and millennials, being among the most prolific buyers of large-cap cryptocurrencies in the U.S.
Som CryptoSlate rapporteret, U.S. citizens purchased a massive $67 billion worth of cryptocurrencies in the first six months of 2020 alone. The numbers mean an average crypto purchase of $4,000 per person. However, the figure is still lesser than last year’s $111 billion, or $7,000 per person.
The U.S. also leads in crypto adoption. The survey said that among the top-ten countries, America had a 15 percent penetration of digital asset investment and awareness as of 2019. The leaders are, rather unsurprisingly, developing markets like Turkey and Brazil as citizens look to cryptocurrencies as a better store-of-value compared to traditional finance.
Firms like Coin Metrics, a crypto markets data and investment provider, say that if these growth rates are maintained, Bitcoin will exceed even the U.S. bond market:
“Bitcoin’s current daily volume would need “fewer than 4 years of growth to exceed the daily volume of all US equities and fewer than 5 years to exceed the daily volume of all US bonds.”
With the high sentiment and adoption rates; the data shows a two-year-long bear market might just be ending soon.
Bitcoin, i øjeblikket rangeret #1 efter markedsdækning, er op 4.73 % i løbet af de sidste 24 timer. BTC har en markedsdækning på $ 215.09B med et 24 timevolumen på $ 26.46B.
Bitcoin Prisoversigt
