Bitcoin declined below $ 83,000, while 25 %loss from the January summit, while the fear and greed index decreased to 10. This level is even lower than the index level during the collapse of the crypto currency exchange FTX. According to those mentioned on the official website of the index, the extreme horror environment can often cause much concern in the market, which can mean an opportunity for long -term investors.
Panic and fear prevail in the crypto money market
Yesterday, Bitcoin entered the stock market worth $ 1.3 billion and showed that sales pressure increased. At the same time, Bitcoin’s daily transaction volume decreased by 17 %to $ 68 billion, while the futures open positions decreased by 6.3 %to $ 53.6 billion. Historically, although February is known as a positive period for Bitcoin, this cycle is progressing differently. Analysts point out that the current decline offers an opportunity, while the markets are uneasy.
Despite the increase in panic sales, market experts recommend investors to remain calm. Stating that 30 %or more retreats in Bitcoin bull cycles are common, experts emphasizes that the BTC is currently testing the 200 -day moving average and the RSI indicator entered the over -selling zone. This is seen as a sign of a possible recovery.
Cryptoquant CEO, Ki Young Ju, recalled that Bitcoin has reached the highest level of all times after Bitcoin fell by 53 %in 2021, the worst investment strategy is to buy and sell while prices rise and sell. Crypto analyst MagkattackXRP, who shared a similar view, said that fear of fear and greed offers the opportunity to sell.
Robert Kiyosaki: ‘Bitcoin, honest currency’
Recognized investor Robert Kiyosaki said he saw this decline in Bitcoin as a purchase opportunity. Kiyosaki believes that Bitcoin is a long -term valuable protection tool due to the increasing US debts, social security obligations and unsustainable expenditures. Kiyosaki said, “When Bitcoin fell, I will smile and get more, Kiy Kiyosaki reiterated his long -term confidence in BTC.
The decline in Bitcoin came after Donald Trump announced his plans to bring 25 %customs duties to the European Union. With this news, a loss of $ 500 billion in the S&P 500 index led to a further decline of Bitcoin. The concern in the market has caused a huge wave of fear than the FTX crisis. However, historical data show that deep corrections often come before strong recovery. Therefore, it can be a critical period for patients who are patient.
