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CNBC’s CryptoTrader Ran Neuner is taking a bullish approach to the state of the cryptocurrency winter at present. NeuNer recently tweeted that now might be a great time to invest in cryptocurrencies owing to the fact that although there is little positive sentiment in the industry, there is more and more development, and that this signals “a good time to invest“:
Activity vs Sentiment : We are at a point where we are seeing increased development activity/progress and sentiment is at a low. Traditionally when activity and sentimental are at opposite extremes – that is a good time to invest..
— Ran NeuNer (@cryptomanran) January 8, 2019
As it stands, Bitcoin has been hovering around the $4,000 USD mark. Although this is a jump from September of last year, where it was holding $6,500 USD, it is on a positive gradient from 2018’s bottom of around $3,200 USD. Sentiment since the crash last year remains grim, with users claiming that now is a good time to sell instead:
this aint tradional however, so read this as a sell signal.
— Reincoinator (@CryptoManiac10) January 9, 2019
NeuNer’s comments have been met with similar mixed responses; some are offering negative opinions on the market’s state and NeuNer’s advice while others are following the “buy now” mantra.
Whether or not one believes the CryptoTrader’s advice, one should remember that the industry is volatile, and a spike could occur in either direction. The best advice we can offer is to go into a transaction with caution and that emotional buying and selling might not yield the best results. Trade safe and trade smart.
At the time of writing, Bitcoin is trading at a 0.81% decrease in day-on-day trading at a value of $4,039.15 USD.