{"id":415964,"date":"2020-02-25T16:00:24","date_gmt":"2020-02-25T16:00:24","guid":{"rendered":"https:\/\/wncen.com\/?p=415964"},"modified":"2020-02-25T15:54:48","modified_gmt":"2020-02-25T15:54:48","slug":"retail-crypto-sentiment-flips-bearish-for-first-time-in-2020","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/retail-crypto-sentiment-flips-bearish-for-first-time-in-2020\/","title":{"rendered":"Retail Crypto Sentiment Flips Bearish For First Time in 2020"},"content":{"rendered":"

The crypto<\/a> market has recently reached levels of greed after spending much of the second half of 2019 in fear of further downside in the asset class.<\/span><\/p>\n

However, sentiment has just flipped back to bearish after spending the first two months of 2020 bullish. Could this signal that the crypto market is about to crash<\/a>? Or could this be a contrarian signal that more upside will surprise retail traders?<\/span><\/p>\n

Crypto Investors Turn Bearish, Expect Further Downside in Bitcoin<\/h2>\n

Since the start of 2020, the crypto market has added over 70% in new value to the total aggregate market cap.<\/span><\/p>\n

The increase in valuations comes as Bitcoin<\/a> and altcoins broke free from downtrend resistance and went on a wild rally for over two full months now.<\/span><\/p>\n

Related Reading | Ancient Math May Be the Key to Making Crypto Bull Market Riches\u00a0<\/a><\/strong><\/em><\/p>\n

While the current local bottom was set in mid-December at $6,400, the low for 2020 so far at $6,800 marked the last time collective retail crypto traders were bearish on Bitcoin and other cryptocurrencies.<\/span><\/p>\n

Since that date, Bitcoin rose from $6,800 to as high as $10,500 before falling back to current prices.<\/span><\/p>\n

It\u2019s only now that the rally is over that the greater crypto market has turned bearish once again.<\/span><\/p>\n

According to a sentiment poll, crypto traders are expecting downside in Bitcoin<\/a> before new highs are reached. This is the first time voting resulted in a bearish outcome since the start of the year.<\/span><\/p>\n

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#BTC<\/a> <\/p>\n

This is the first time retail sentiment has been bearish since January 2, 2020.#Bitcoin<\/a> #ETH<\/a> $XRP<\/a> pic.twitter.com\/AVWIgkBzCP<\/a><\/p>\n

— Yeesus (@virtuecapital1) February 24, 2020<\/a><\/p><\/blockquote>\n