Bitcoin and altcoins experienced a challenging start to November. Bitcoin dipped below $100,000, while Ethereum (ETH) faced its largest single-day loss. Expectations were mounting that Ethereum’s price might fall below $3,000. However, a recent price recovery has shifted sentiment around ETH considerably.

According to analytics platform Santiment, Ethereum investors are displaying a notably optimistic attitude following this rebound. In just a few days, investor sentiment flipped sharply from extremely bearish to extremely bullish. Santiment noted that FOMO (fear of missing out) has returned to Ethereum, which could potentially hinder further acceleration of the price rise.

Santiment also highlighted that prices often move contrary to the crowd’s expectations. Despite the sudden bullishness among investors, this historical trend suggests that ETH’s downward trajectory may continue for some time.

“Ethereum investors quickly shifted from extreme pessimism to optimism. However, prices historically move in the opposite direction of popular expectations. This means market optimism could lead to a short-term correction in ETH,” Santiment explained.

The platform cautioned that this sudden change in sentiment should not be mistaken for a genuine bullish buying signal. According to Santiment, a true buying opportunity will emerge only when investors abandon their hopes for a rapid recovery and temper their expectations of ETH re-entering the $4,000 range.

“Follow the ETH chart and wait for investors to temper their expectations of a quick return to $4,000. Once the bullish sentiment calms down again, that will be a real buy signal,” the platform advised.

*This is not investment advice.*
https://bitcoinethereumnews.com/ethereum/ethereums-investors-are-suddenly-bullish-what-does-it-mean-for-eth-price/