Crypto analytics firm Santiment reported on Nov. 10 that bearish comments outnumbered bullish ones for bitcoin, ethereum and XRP across the social platforms it tracks. It counted 0.82 bullish comments per bearish comment for bitcoin, 0.88 for ethereum and 0.49 for XRP, the weakest reading of the three.
Santiment interpreted the pessimism as a possible sign of a future price rebound, not a rebound already under way. Bitcoin was trading at $74,032 as of the article’s writing, after falling below $74,000 on Nov. 10. Bitfinex analysts said a sustained recovery would depend in part on stronger demand from buyers purchasing bitcoin directly.
