Bitcoin and altcoins started August with a decline. At this point, analysts state that, based on historical data, August and September were generally periods of decline.
However, cryptocurrency platform Santiment said crypto investors are bullish on several key assets as we head into August.
At this point, according to Santiment data, investors expect a strong rise in Bitcoin, Ethereum, XRP and Solana.
According to the data, Bitcoin has the highest positive investor outlook in the last 17 months and XRP in the last 14 months.
In the face of this rising expectation, Santiment said that FOMO should decrease before BTC, ETH, SOL and XRP start to rise.
At this point, Santiment advises investors to wait for FOMO to subside before turning to BTC, ETH, XRP, and SOL.
Binance Coin (BNB) Lagged Behind Bitcoin and Other Altcoins!
Investors are bullish on Bitcoin, Ethereum, Solana and XRP, while BNB is experiencing less enthusiastic sentiment.
Santiment's data shows that BNB has weaker bullish sentiment and is mostly overlooked as an investment option.
This lack of strong investor interest could negatively impact BNB's price movements in the short term.
🐂🤞 Traders mainly have a bullish outlook toward top caps as the calendar has turned to August. Expect the FOMO to die down a bit before BTC, ETH, XRP, and SOL go on major runs. BNB is one of the few large caps seeing less bullish narratives than average at the moment. pic.twitter.com/jJ8gyWxx7J
— Santiment (@santimentfeed) August 1, 2024
*This is not investment advice.
