The Most Reliable Way to Predict Bitcoin Price: Santiment Suggests Doing the Opposite!

One of the most effective methods investors use to accurately predict the price of Bitcoin (BTC) may be to follow what is being said in the market and do the exact opposite.

According to new data shared by the crypto analysis platform Santiment, investors' price predictions generally move in the opposite direction of the market. Looking at data from the last three months, predictions for the decline of Bitcoin's price ranged between $30,000 - $70,000, while predictions for its rise were measured between $120,000 - $160,000. During this period, Bitcoin’s price never fell below $70,000 and also did not exceed $120,000. The record level of $112,000 recorded last month also supports this thesis.

According to Santiment's data, investors' comments about the market generally occur in the exact opposite direction of prices. For example, during the period from June 4-6, when Bitcoin’s price dropped to $101,000, the moment investors thought prices would fall further was actually a buying opportunity. Because while small investors were selling in panic, large investors and whales were strengthening their buying positions.

Read Market Psychology in Reverse

According to experts, retail investors' comments on social media serve as an important reverse indicator regarding Bitcoin's price. In other words, the more negative expectations arise in the market, it usually means the price will start to rise. The opposite is also true. Therefore, investors can make more informed decisions by closely following the market's emotional reactions. Santiment's data can provide Bitcoin investors with significant advantages during critical times.