According to Jinse Finance, Santiment analyst Brian Quinlivan stated during an interview on Wednesday that the analysis company “sees expectations on social media for Bitcoin’s next ‘all-time high’. Since the market often goes against the expectations of retail investors, this usually means we are not yet ready for the next bull run.”
Quinlivan suggests that, since there aren’t many voices of doubt, historical highs are often not followed closely; however, as Bitcoin has approached historical highs multiple times, market sentiment has entered a lower position, which could potentially drive Bitcoin to break through the current high.
According to data from CoinMarketCap, at the time of this article’s publication, the trading price of Bitcoin is $109,679, which is only 2.1% away from its historical high of $111,970, reached on May 22.
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