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Bitcoin’s Fear And Greed Index Suggests BTC Price Might Take A While To Recover

While the global stock market, major economic sectors, and world economies take a hit amid strong rumors of a looming economic recession, the crypto market especially Bitcoin has had struggles of its own. The weeks following the opening of 2020 looked all god for Bitcoin as the crypto mounted a bullish move in preparation for the reward halving in May. Generally, the halving has always been a bullish event.

Bitcoin’s Fear And Greed Index Suggests BTC Price Might Take A While To Recover

However, the continued negative sentiments as a result of the spread of the CoronaVirus has put a block on Bitcoin’s path to the moon, sending the crypto’s price rolling South to the lows of $5,000 from a previous optimistic high of $10, 500. In a tweet, one technical analyst opined that the price will take a while to get back up. He explained what’s happening.


Market Shock


First off, a sudden price crash like what happed with Bitcoin ends up creating a relatively uncertain environment due to fears of the unknown. Read More...