Extreme sentiment overshadows the cryptocurrency market

 Many crypto players are looking to withdraw from the market as the fear index drops to an alarming

An extreme sentiment is looming over the market, crypto holders are panicking, all the same as we saw when the market bottomed before," Yahoo quoted Yves Lamoureux, aka. "Canadian whale", president of macroeconomic research firm Lamoureux.

Since last November after Bitcoin hit a record price of nearly $70,000, Lamoureux, has warned that the market is about to enter a “crypto winter.”

Meanwhile, Bloomberg believes that after the "crypto winter" period, speculators will be removed from the market, making way for those who truly believe in blockchain technology, cryptocurrencies as a value. long-term storage. "But will the crypto ecosystem come out after the winter is over? Many cryptocurrencies will become worthless and many investors will have to accept losses like what we saw during the bubble wave. dotcom ball," the site reads.

According to experts, it will be difficult for the market to have a rally in the near future. However, players who survive at this stage or new investors emerge will demonstrate the long-term viability of cryptocurrencies, as long as it is still based on the principles of a decentralized financial system. concentrate. There will be no more hot rallies, but investors will get used to slow and steady growth in the long run.

The Fear & Greed index measured by Alternative statistics shows that users' fear of Bitcoin and other cryptocurrencies has dropped to a record level, since March 2020. On May 17, this index fell to the 8th scale, and the average level over the past week is 13.
Previous Post Next Post