Bitcoin ‘Extreme Greed’ Is Almost Here: Price Bottom Now Close?
Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. Here’s what this could mean for the cryptocurrency’s price. Bitcoin Fear & Greed Index Has Continued To Decline Recently The “Fear & Greed Index” is an indicator developed by Alternative that tells us about the average sentiment that traders in the Bitcoin and wider cryptocurrency market currently share. The index uses five factors to determine this sentiment: volatility, trading volume, social media, market cap dominance, and Google Trends. The metric uses a numeric scale that runs....
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People are wondering when and at what price bitcoin will bottom and there are many opinions on this matter. This article will not explore a certain price or date when bitcoin will bottom but some of the characteristics that need to be shown to know that a real bottom in place. Instead, this article will explore the concepts of panic selling and capitulation as well as what a bottom will look like if these things occur. To date, you have not seen either of these things play out in the bitcoin price, as the selling has been very orderly for quite a while. Essentially, capitulation comes from....
On-chain and crypto exchange data show pro traders feel less confident about Bitcoin’s bullish momentum under the $15.5K level. Typically, traders become skeptical after Bitcoin (BTC) ‘completes’ a strong performance like the stellar move from $12,000 to $15,950 seen over the past few weeks. The 35% gain over the past 30 days led some traders to conclude that BTC is over-extended and in need of a pullback. On the other hand, there are plenty of traders who are confident that the current bull run can continue.Generally, the market is displaying mixed signals as Bitcoin price fluctuates....
On-chain indicators focusing on Bitcoin's fair valuation and long-term holders' sentiment also raise its prospects of bottoming out. Bitcoin (BTC) has fallen by over 67% in 2022 and is now wobbling between a tight trading range defined by $28,000 as interim support and $30,500 as interim resistance.The selloff appears in the wake of the Federal Reserve's hawkish policy and the uncertainties in the crypto market led by Terra, an algorithmic stablecoin project whose native token LUNA fell by 99% earlier in the month. Nonetheless, Bitcoin's decline has somewhat cooled down as May draws to a....
It’s a new year and a new crop of obituaries for bitcoin, following a dramatic price decrease over a 48-hour period starting in the wee hours of January 13, almost immediately following a dire warning by ex-Wall Streeter George Samman in this very publication a few days earlier predicting such a collapse was necessary to find the bottom of the current bear market and that the recent price declines were far too orderly. Samman is the co-founder and ex-COO of BTC.sx, a service that lets users short bitcoin (among other financial leveraging instruments). How convenient. It was a well-written....
On-chain data shows that the Bitcoin Market Value to Realized Value (MVRV) ratio is doing a retest that has historically been significant for BTC. Bitcoin MVRV Ratio Is Retesting Its 365-Day SMA Right Now As explained by an analyst in a CryptoQuant Quicktake post, the Bitcoin MVRV ratio is retesting a level that has acted as an important psychological level in the past. The “MVRV ratio” here refers to a popular on-chain indicator that, in short, compares the value that the investors are holding (that is, the market cap) against what they used to purchase the cryptocurrency (the....