Market

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.

Source: CoinCu

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

Victor

Recent Posts

Best Cryptos to Invest in December 2024: Qubetics Surges Past $2.6M as Solana Records Big Whale Pump and Polkadot Aims for $6

Best Cryptos to Invest in December 2024: Qubetics surges past $2.6M, Solana’s whale pump ignites…

25 minutes ago

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

2 hours ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

2 hours ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

4 hours ago

This website uses cookies.