Recently analysts have explained that there is still a huge potential for this crash situation because this is a great opportunity.
The market fell further in three phases due to the Federal Reserve’s triple calendar release and lower bitcoin network hash rates. However, the market conditions have been good for the last few days.
Currently, Bitcoin is priced at $41,901. Bitcoin prices have fallen 66% in the last 90 days and 16% in the last 7 days.
Leading crypto trading expert Michael van de Poppe said that the price of bitcoin below $40,000 on January 10 will remain stable for a long time. That is, with good support, Bitcoin can now fluctuate around $ 40,000 for a long time.
He said that “We’ve dipped into higher time frame support while the actual fear in the markets has reached new peak highs which we’ve not seen since May 2021. What we are seeing right now is a case of the ultimate fear which is granting you the maximum financial opportunities”.
So, with this great support, he tried to say that Bitcoin has great financial opportunities.
As of now the technical analysis and support for Bitcoin right now are excellent. Today’s January 11th, the Greed and Fear Index is 21, which is better than January 15, which is much lower than July 21.
The Bitcoin Greed and the Fear Index are numbers that indicate how bearish or bullish individuals are at a given crypto market situation. While a decrease in the index number is an indication that more and more people are bearish currently, and the increase in the index number shows that more people are confident to buy more bitcoins at a higher price.
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