Santiment: FOMO Unlikely to Disrupt Further Cryptocurrency Market Growth

A recent analysis by the market intelligence platform Santiment suggests that the fear of missing out (FOMO) is unlikely to derail the current bullish momentum in the cryptocurrency market. Despite significant rallies across major digital assets, Santiment’s findings reveal an unexpected level of neutrality in market sentiment, which could actually support further growth as the current uptrend matures.

Surprising Market Sentiment Amidst Record-Breaking Gains

In the past 30 days, several major altcoins have posted remarkable gains. Among the top performers:

• Stellar (XLM) surged by an impressive 512%
• XRP jumped by 444%
• Cardano (ADA) saw a rise of 280%

These dramatic price movements have certainly caught the attention of market participants. However, despite the massive rallies, Santiment highlights that the euphoria commonly associated with such gains has cooled, particularly after a wave of profit-taking in late November. This shift in sentiment came after Bitcoin (BTC), the market leader, attempted to breach the $100,000 mark. Following Bitcoin’s failure to sustain that level, a retracement across the market ensued, but a recovery has since taken hold.

Neutral Sentiment as a Positive Indicator for Growth

Interestingly, Santiment’s analysis reveals that despite the recovery, the FOMO that typically follows such gains has not emerged in the market. Retail traders, who often drive FOMO-induced buying, appear to have stepped back after cashing in on earlier profits. This quieter atmosphere could be beneficial for continued market growth, according to the analysis.

Historically, markets tend to defy prevailing trader sentiment. In this case, the absence of intense retail enthusiasm is seen as a positive indicator, signaling that the market could climb further without the volatility that often accompanies FOMO-driven buying frenzies.

The neutrality in sentiment aligns with historical patterns, where quieter periods often precede sustained bullish moves.

Expert Views on Market Potential

The current market conditions are resonating with prominent figures in the cryptocurrency space. Charles Hoskinson, the founder of Cardano, believes that Bitcoin could still experience significant growth, potentially reaching as high as $500,000, a move that could also benefit the broader crypto market.

Meanwhile, market veteran Michaël van de Poppe shares a similar outlook, noting in a recent analysis that the ongoing bull run is far from over. Van de Poppe emphasized that while the market has just started its upward trajectory, XRP has already sparked a new wave of momentum across altcoins.

He predicts that the market could see a 10x growth next year, although he expects the market to experience some sideways movement for the next three to four months.

Conclusion: A Promising Outlook for the Crypto Market

Despite the recent profit-taking and the absence of rampant FOMO, the cryptocurrency market appears poised for sustained growth. With a calm but positive sentiment prevailing among traders, there is strong potential for the market to continue its upward trajectory, especially as more altcoins like XRP and Cardano show impressive gains.

As market veterans and analysts point to the possibility of a 10x growth next year, the absence of FOMO could actually prove to be a blessing, allowing the market to mature without the disruptive volatility that often accompanies periods of irrational exuberance