Intense fear returns to the souls of Bitcoin investors after falling below $ 50,000
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Answer Intense fear returns to the souls of Bitcoin investors after falling below $ 50,000
The rapid movement and decline of Bitcoin in the past few days made investors, who were optimistic in anticipation of a new peak, review their accounts after Bitcoin fell below the $50 thousand level.
Where feelings shifted from feelings of intense greed recorded last month, to feelings of intense fear at the beginning of the current month of December.
The Crypto Fear and Greed Index has fallen back into the “extreme fear” area.
Figures for the index, which is a manual tool for measuring market sentiment, fell to just 16 points, the lowest recorded since July 2021, according to the latest daily update.Read:What is the reason for the collapse of the price of the coin (MATIC) by more than 70 percent within minutes?
As we mentioned in previous articles on Arab Bitcoin, Bitcoin fell sharply on December 4, returning to the $42,000 level for the first time since early October.
The largest cryptocurrency so far failed to recover the $50,000 level, as it is currently trading at $48,730 on cryptocurrency exchange Binance.
On November 9, the index (Greed Index) peaked at 84 points, which happened just a day before Bitcoin reached an all-time high above $69,000.
Some see this fear as a golden opportunity to buy and apply the famous “Buffett” saying:
Be afraid when others are greedy, and be greedy when others are afraid.
But the biggest fear for some is related to the bear market and whether the recent decline is one of its indicators and signs.Read:The founder of Twitter stated: I will leave “Square” and “Twitter” for Bitcoin if the latter needs me more!
The next hours or days will reveal more about the movement and direction of Bitcoin.
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