The Fear Index is at 32, down from 69 a month ago. Over the same period, BTC fell from around 83.7K to 75K, a drop of about 10%.
The price hasn’t collapsed, but sentiment has. In my view, the hardest part of this phase isn’t the drop—it’s the rebounds: every time it rises by two or three thousand, people start calling the bottom, only for it to get pushed back down again.
I could be wrong, but until the index gets back above 50, I won’t treat any rebound as a trend reversal.
Do you think the index will get back to 50 first, or drop below 25 first?
Just my personal opinion. DYOR $BTC #Bitcoin
The price hasn’t collapsed, but sentiment has. In my view, the hardest part of this phase isn’t the drop—it’s the rebounds: every time it rises by two or three thousand, people start calling the bottom, only for it to get pushed back down again.
I could be wrong, but until the index gets back above 50, I won’t treat any rebound as a trend reversal.
Do you think the index will get back to 50 first, or drop below 25 first?
Just my personal opinion. DYOR $BTC #Bitcoin
