As the $11,000 Mark was reached for bitcoin, crypto Twitter stays silent

• The talk of the town today in the crypto space is the fact that bitcoin rose above $11,000 for the first time since the start of the month. 

• Even though it is currently sung back into $10,000 territory at the time of writing, many investors are excited about the future.

The talk of the town today in the crypto space is the fact that bitcoin rose above $11,000 for the first time since the start of the month. Even though it is currently sung back into $10,000 territory at the time of writing, many investors are excited about the future. Or are they?

When bitcoin rose above $11,000 last night, it didn’t quite hit $11,100 but the fact that it was able to breach this key resistance level was a milestone in itself. 

You would’ve thought when bitcoin breached $11,000, crypto Twitter would’ve had a field day with many companies and investors posting about the news to their followers. 

However, the on-chain data analysis company Santiment has mentioned that most of crypto Twitter didn’t respond in any real way to the price movement.

Many analysts over the past few weeks have predicted that it would take awhile for bitcoin to break $11,000. They go on to mention that $12,000 is even further away. The low reaction from crypto Twitter compared the overall mentions of bitcoin to the ratio positive or negative comments on its Sanbase platform. 

They further say:

“Generally, the negative sentiment at extremely low levels correlates with price rises, whereas extreme highs correlate with price retracement.”

The lack of reaction from the community is interesting. Have people not realised that bitcoin achieved it a decent milestone or to people just simply not care...

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!