‘Dip,’ ‘Buy’ and ‘Fed’ top trending topics on social media, per survey

Over
the
past
seven
days,
the
top
trending
words
on
cryptocurrency
social
media
are
“dip,”
“buy”
and
“Fed.”
Plus,
the
word
“sell”
fell
out
of
the
top
10
trending
topics
on
Thursday
despite
spiking
sharply
on
Tuesday. 


According

to
crypto
market
data
aggregator
Santiment,
social
media
users
from
Meta
to
Telegram
to
Twitter
have
formed
a
choir,
and
they’re
all
singing
from
the
same
hymn
sheet.
“Dip”
and
“buy”
are
the
No.
1
and
No.
3
trending
words,
respectively,
while
“Fed,”
or
Federal
Reserve,
sits
at
number
six.

The
behavior
analysis
from
the
monitoring
platform
sheds
light
on
social
volumes
for
words
on
crypto
social
media,
which
can
be
indicative
of
overall
sentiment.
It
works
in
a
similar
way
to
the
Crypto
Fear
&
Greed
Index,
which
currently shows a
score
of
18,
“extreme
fear.”

In
contrast
to
the
Index
and

some
trader
fears
of
a
$30,000
price
per
Bitcoin

(BTC),
social
media
buy
sentiment
remains
strong.
It
is
still
just
one-third
of
the
score
of
1,875
points
that

spiked

on
Dec.
4,
2021,
when
BTC’s
price

flash-crashed
to
$42,000
.

The
United
States
Federal
Reserve
features
high
up
on
the
list
due
to
discussion
surrounding
a

potential
rate
increase
in
2022
.
Bitcoin
bull
Vijay
Boyapati
is
nonplussed.
In
a
tweet
on
Wednesday,
he suggested that
BTC
will
fly
when
the
Fed
“loses
control
of
the
bursting
bubble
they’ve
inflated
for
the
last
decade.”



Related: 
Cardano
became
the
most
developed
crypto
project
on
GitHub
in
2021

Santiment

Curiously,
there
was
a
spike
in
“sell”
sentiment

activity

on
Tuesday.
The
clamoring
to
sell
three
days
ago
was
just
as
intense
as
those
chiding
investors
to
buy
on
Nov.
29,
2021,
at
4,828
Santiment
points.
However,
back
then
the
bull
run

appeared
to
be
in
full
swing
.

Overall,
crypto
sentiment
seems
optimistic
that
the
current
market
action
is
just
a
dip.
However,
the
topic
“bear”
has
crept
up
from
the
No.
10
position
Thursday
evening
to
number
eight
on
Friday.

With
BTC
prices

dipping
as
low
as
$41,000
,
there
could
be
more
volatility
to
come.

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