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

Swift, UBS, Chainlink Complete Pilot for Global Tokenized Fund Settlement Network

Swift, UBS Asset Management, and Chainlink have completed a proof-of-concept that would settle tokenized fund…

14 mins ago

Jambo and Lif3 Partner to Make Crypto Payments Accessible to Millions of Users in Emerging Markets

Abu Dhabi, United Arab Emirates, 5th November 2024, Chainwire

18 mins ago

Jito and Solana Outpace Ethereum in 24-Hour Fee Revenue

According to data from SolanaFloor, Jito and Solana's 24-hour protocol fee income has surpassed Ethereum's…

51 mins ago

Which 3 Altcoins Will Skyrocket the Most in the Next Big Bitcoin Rally?

As the crypto market is about to witness the next big Bitcoin surge, Rexas Finance,…

1 hour ago

Gate.io Shatters Records in Total Trading Volume in Q3 2024, with Its User Base Surpassing 17 Million

In the third quarter of 2024, despite a challenging market environment, Gate.io maintained strong growth…

2 hours ago

MEXC Champions the Future of Crypto Content Creation at CCCC

MEXC is proud to partner with the inaugural Crypto Content Creator Campus CCCC event, taking…

2 hours ago

This website uses cookies.