Bitcoin Market Sees ‘Buy the Dip’ Surge Amidst Price Slump

Sentiment analysis platform Santiment is detecting an increase in social media mentions of the popular phrase ‘buy the dip’ as Bitcoin prices decline, according to a recent report. While this trend may suggest that the cryptocurrency market hasn’t reached its bottom point yet, experts caution against viewing it as a clear indicator. A true market bottom typically involves widespread fear and decreased buying interest, often resulting from investors losing faith and becoming hesitant about further purchases. Historical data suggests that when more people believe the market has bottomed out, it may signal even steeper declines.