Some of the top cryptocurrencies, including BTC, ETH, and BNB, SOL, and ADA, are facing a lot of FUD (fear, uncertainty, and doubt) and bearishness at the moment.
BTC, ETH, BNB, ADA, SOL Face FUD (Fear, Uncertainty, and Doubt)
Recent public sentiment suggests that prices of some of the top ten cryptocurrencies, including Bitcoin, Ethereum, and BNB, as well as fashionable SOL and ADA, are facing a lot of FUD (fear, uncertainty, and doubt) and bearishness at the moment, according to analytics data provider Santiment.
😟 Have we dipped low enough where there’s “blood in the streets?” According to crowd sentiment, there’s quite a bit of #FUD & #bearishness for $BTC, $ETH, $BNB, $SOL, & $ADA. As illustrated by this chart, negativity correlates most commonly with bounces. https://t.co/mndr94gDJg pic.twitter.com/BNasCuulTV— Santiment (@santimentfeed) January 8, 2022
Following Bitcoin’s recent plunge from $46,500 to $41,925, all of these top cryptocurrencies have seen big losses. BTC was followed by Ethereum, which fell below $3,220.
As of this writing, the most valuable cryptocurrency is trading at $41,925, while Ethereum is trading at $3,220. BNB is currently trading at $457, down from a high of $569 on December 27. SOL peaked at $203 on December 27 but has since dropped by more than half to $146.
Cardano’s ADA began in 2022 by climbing to $1.380 from a low of $1.287 on December 31. The highest price for ADA thus far in January was $1.384 on January 2. The coin has now plunged to 1.248, down nearly 8% from its peak of $1,349 on January 5.
The Crypto Market is Experiencing Severe Fear
Meanwhile, the Bitcoin Fear and Greed Index is at 10, indicating that the crypto market is experiencing “severe fear.”
According to Colin Wu, a well-known Chinese crypto writer, this is the lowest price since July 21 of last year.
Many people, however, believe that this is an excellent time to purchase the dip.
The crypto community is reminded by U.Today that they should conduct their own studies in the crypto world. Cryptocurrency values can be quite volatile, so don’t invest more than you can afford to lose.
The Crypto Fear and Greed Index fell to 10, the lowest since July 21, 2021. pic.twitter.com/ZNbTnuH3cb— Wu Blockchain (@WuBlockchain) January 8, 2022