{"id":464423,"date":"2021-05-25T12:00:54","date_gmt":"2021-05-25T12:00:54","guid":{"rendered":"https:\/\/ktsl888.com\/?p=464423"},"modified":"2024-06-11T13:55:57","modified_gmt":"2024-06-11T13:55:57","slug":"congratulations-for-surviving-the-biggest-crash-in-bitcoin-history-but-is-worse-to-come","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/congratulations-for-surviving-the-biggest-crash-in-bitcoin-history-but-is-worse-to-come\/","title":{"rendered":"Congratulations For Surviving The Biggest Crash In Bitcoin History, But Is Worse To Come?"},"content":{"rendered":"
Data from Glassnode<\/a> shows that the recent Bitcoin crash was the largest in history in dollar terms, coming in at $2.56 billion. The “corona crash<\/a>” of March 2020 was the previous biggest, at $1.38 billion.<\/p>\n Although 13% gains yesterday brought welcome relief, uncertainty still rules. The question on everyone’s mind is, are we still in a bull market?<\/p>\n <\/p>\n The events of the past fortnight have shown that Bitcoin is not immune to FUD or, as some suspect, market manipulation. Holding throughout this period has been a painful experience for most. But the biggest fear is that last Wednesday’s crash signaled the end of the bull run.<\/p>\n Debate still rages as to whether that’s the case or not. From a sentiment point of view, a reading of 22<\/a> on the Fear and Greed Index shows frazzled nerves are still raw with extreme fear.<\/p>\n This is a marked improvement over yesterday’s reading of 10. But to say the market remains cautious would be an understatement.<\/p>\n The Fear and Greed Index measures emotions and sentiment to represent them on a scale of 0 to 100. 0 represents extreme fear, while 100 shows extreme greed.<\/p>\n A look at the Bitcoin daily chart shows BTC is currently below the 200-day moving average, which indicates that bears still have the upper hand despite yesterday’s relief rally. A close above the 200-day moving average is needed to allay fears that the bull market is over.<\/p>\n BTC is trying to build on yesterday’s gains and work its way above the 200-day moving average. But until that happens, from a technical perspective, it’s too soon to say with conviction whether the bull cycle remains intact.<\/p>\n <\/p>\n That hasn’t stopped a flood of analysts from giving their opinion on the matter. The Founder of Fundstrat Global Advisors, Tom Lee, <\/a>said volatility is the nature of Bitcoin. He maintains his pre-crash price prediction of $100k by the end of the year.<\/p>\n \u201cI think bitcoin is hyper-volatile. That\u2019s the nature of it, but that\u2019s what creates the reward for people.<\/p>\n Again, even though bitcoin is in the penalty box now, I still think it could exit the year over $100,000.”<\/p><\/blockquote>\nSource: @WClementeIII<\/span> on Twitter.com<\/a><\/pre>\n
Sentiment Remains Raw<\/h2>\n
Source: BTCUSD on TradingView.com<\/a><\/pre>\n
What’s Next For Bitcoin?<\/h2>\n