Whenever the market is stuck in sustained bearish periods, participants’ trust gradually starts eroding away and fear starts getting instilled. Such has been the case lately too. The current reading of the F&G index points towards “extreme fear,” confirming the said narrative.
Popular commentator StockMoney Lizards recently took Twitter to claim that Bitcoin is currently in its “game over” phase. Well, this is not the first time such a scenario has unfolded.
As illustrated in the chart above, whenever Bitcoin’s price has traded around the lower part of the circumference of circles, it has seen a “game over” phase. Post that, however, recoveries have been noted. In a few cases sharp bounce backs have been registered, while during other times, the process has been gradual.
