The cryptocurrency market’s recent bullish trend may not be disrupted by FOMO, according to a recent analysis by market intelligence platform Santiment. Despite massive rallies across the market, the report highlights a surprising level of neutrality in market sentiment, which could allow continued growth as the uptrend matures.

Altcoin Gains and Market Sentiment

Major altcoins like Stellar, XRP, and Cardano have experienced record-breaking gains over the past 30 days. Stellar surged by 512%, XRP rose 444%, and Cardano increased by 280% over the last month, respectively. However, market participants have observed these dramatic price movements, yet euphoria has noticeably cooled after a wave of profit-taking in late November.

This profit-taking wave dominated the scene after Bitcoin attempted to breach the $100,000 mark. The bearish trend led to a retracement for BTC and the rest of the market, but a recovery has since ensued.

No Widespread FOMO

Despite the recovery, Santiment’s findings show that the hype surrounding these assets has not transitioned into widespread FOMO. Retail traders appear to have stepped back after capitalizing on earlier gains, leading to a quieter atmosphere.

Historically, market trends often move contrary to prevailing trader sentiment. Santiment suggests that the current lack of retail enthusiasm is a positive indicator for further market climbs.

Expert Insights

CryptoQuant CEO Ki Young Ju confirmed this trend last month, stating that reduced noise surrounding top-performing assets implies that the market could experience sustained upward momentum without the volatility often driven by FOMO-induced buying.

Cardano founder Charles Hoskinson believes that BTC could still witness further growth to $500,000, possibly benefiting the rest of the market. Market veteran Michaël van de Poppe holds this sentiment, stressing in a recent analysis that the ongoing bull run is not yet over.

A great chart. This bull market is far from over. It did start recently and XRP sparked the fire. I expect similar returns to be happening on the altcoins, but I also expected this entire market to 10x in the upcoming year. We’ve just started.

Van de Poppe noted that, as XRP has triggered the bullish uptrend in the altcoin market, the scene could witness a further 10x growth next year. However, he expects sideways movements for another three to four months.

Tips for Investors

For those looking to invest in the current market, it’s essential to keep the following points in mind:

  • Market trends often move contrary to prevailing trader sentiment.
  • Reduced noise surrounding top-performing assets can imply sustained upward momentum.
  • Historical patterns show that quieter periods have preceded bullish moves.

Stay up-to-date with the latest news and analysis on Global Crypto News to navigate the ever-changing world of cryptocurrencies and investing.

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