Social media data shows that calls for Bitcoin to hit $90,000 or more have recently spiked, which could be a sign that FOMO (fear of missing out) is building in the market.
Bitcoin Sees a Rise in Greedy Social Media Calls
In a recent post on X, analytics firm Santiment looked at where the social media crowd expects Bitcoin to go next. The key indicator here is “Social Volume,” which tracks the total number of posts, messages, or threads that mention a specific term or topic on major social media platforms.
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As a first step, Santiment filtered social volume for Bitcoin-related terms. Then, they narrowed it down to terms linked to price predictions. For bearish calls, they chose the $50,000 to $59,000 price range, and for bullish ones, the $90,000 to $99,000 range.
The chart below from Santiment shows how social volumes for these two types of calls have changed over the past month.
As the graph shows, social volume for Bitcoin prices below $60,000 jumped at the start of April. This means social media users were expecting a bearish outcome for the cryptocurrency. Instead of that happening, the market pessimism was followed by a recovery rally that pushed Bitcoin above $79,000. This pattern has been seen many times before: digital asset markets often move against what the majority expects.
The chart also shows that social media sentiment around Bitcoin has recently flipped. Calls for prices above $90,000 now outnumber those for prices below $60,000. Interestingly, this optimism has held up even though Bitcoin has pulled back from its recent high. Given past patterns, the high social volume for $90,000+ calls might not be a good sign for the cryptocurrency.
“Price predictions for a coin are a great way to see what the OPPOSITE path for prices is likely to be,” the analytics firm noted.
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The current social media optimism around Bitcoin is also clear from another indicator called Positive/Negative Sentiment. As the chart below shows, this metric has spiked to 1.38, meaning there are 1.38 bullish comments about Bitcoin for every bearish one. Solana is seeing even stronger bullish sentiment, with positive comments outpacing negative ones by nearly 3 to 1.
BTC Price
Bitcoin has returned to around $76,700 after its recent pullback.
Featured image from Dall-E, chart from TradingView.com
Frequently Asked Questions
Here is a list of FAQs about the recent surge in Bitcoin 90000 predictions written in a natural tone with clear answers
BeginnerLevel Questions
1 Why are so many people on social media suddenly predicting Bitcoin will hit 90000
These predictions often stem from technical analysis positive news cycles or simply hype When a specific price target becomes a viral meme it gains momentum
2 Is a 90000 prediction a good sign that I should buy Bitcoin
Not necessarily When a prediction becomes extremely popular on social media it can mean the easy money has already been made The crowd is often late to the party
3 What does contrarian signal mean
It means doing the opposite of what the majority expects If everyone is screaming 90000 a contrarian investor might bet that the price will drop instead because the hype is already priced in
4 Should I trust predictions I see on TikTok or Twitter
You should be very skeptical Social media is full of noise fake screenshots and people trying to pump their own bags Always do your own research
AdvancedLevel Questions
5 Could the flood of 90000 predictions actually cause the price to go down
Yes This is the buy the rumor sell the news phenomenon If everyone expects 90k and has already bought there are fewer buyers left to push the price higher The news itself becomes a sell signal
6 What specific metrics can I look at to see if a prediction is a contrarian signal
Look at funding rates and social volume
7 How is a contrarian signal different from just FOMO
FOMO is an emotional reaction pushing you to buy A contrarian signal is a strategic observation that because everyone is FOMOing the smart move is to wait or sell
8 Whats a realworld example of this happening before
In late 2017 when Bitcoin was surging to 20000 almost every headline and tweet predicted