Bitcoin Is Now Trading Around $30,000, The Fear & Greed Index Hits Its Lowest Since March 2020
Bitcoin Is Now Trading Around $30,000
Bitcoin price climbed after the daily close, according to CoinCu statistics, to the $30,000 level. The leading coin had failed to decide on a significant upward or downward trend in a multi-day range, and volatility had ebbed into the new week.
Concerns that a significant correction might push it below last week’s ten-month lows prompted popular analyst Credible Crypto to give a more upbeat alternative. Bitcoin has no drive to retest $20,000 or below, he said on Twitter, based on historical patterns.
MicroStrategy, the firm with the largest corporate BTC treasury, seems to have already made contingency preparations for such a situation, with the company even preparing to purchase up supply to prevent the collapse.
Credible Crypto was equally cautious when asked if BTC/USD may repeat the decline from its 2019 highs above $14,000 to the $3,600 floor during the March 2020 COVID-19 meltdown.
“Not expecting that. Is it possible? Yes, but as I’ve said previously a retest of prior cycle highs has never happened before- so I find it highly unlikely,” he responded.
On May 17, the Crypto Fear & Greed Index, a cross-market sentiment indicator, has reached its lowest level since March 28, 2020, two weeks after the Coronavirus lockdown.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
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Hazel
CoinCu News
bitcoin bitcoin bitcoin
Author
Bitcoin Is Now Trading Around $30,000
Bitcoin price climbed after the daily close, according to CoinCu statistics, to the $30,000 level. The leading coin had failed to decide on a significant upward or downward trend in a multi-day range, and volatility had ebbed into the new week.
Concerns that a significant correction might push it below last week’s ten-month lows prompted popular analyst Credible Crypto to give a more upbeat alternative. Bitcoin has no drive to retest $20,000 or below, he said on Twitter, based on historical patterns.
MicroStrategy, the firm with the largest corporate BTC treasury, seems to have already made contingency preparations for such a situation, with the company even preparing to purchase up supply to prevent the collapse.
Credible Crypto was equally cautious when asked if BTC/USD may repeat the decline from its 2019 highs above $14,000 to the $3,600 floor during the March 2020 COVID-19 meltdown.
“Not expecting that. Is it possible? Yes, but as I’ve said previously a retest of prior cycle highs has never happened before- so I find it highly unlikely,” he responded.
On May 17, the Crypto Fear & Greed Index, a cross-market sentiment indicator, has reached its lowest level since March 28, 2020, two weeks after the Coronavirus lockdown.
DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Hazel
CoinCu News
bitcoin bitcoin bitcoin
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