Add as a preferred source on GoogleBitcoin Holds Near $80,000 as Sullivan Sees a 2015 Sentiment Echo
Michael Sullivan, a software engineer and author of Bitcoin Sentiment Weekly, says muted investor sentiment resembles conditions he associates with Bitcoin’s 2015 rally.
Bitcoin (BTC) was trading at $80,719 at 2:10 p.m. ET Oct. 28 (18:10 UTC) after retreating from $86,000, while investor excitement, conviction and desire sit at levels Michael Sullivan compares with conditions in 2015.
Sullivan, a software engineer and author of Bitcoin Sentiment Weekly, tracks market sentiment using language-based data. He describes the three measures as subdued even as Bitcoin remains near $80,000, and sees the combination as an early stage of a disbelief rally.
The discussion also compares Bitcoin sentiment in 2015 and 2022. Sullivan’s bullish historical parallel is with 2015.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.