Bitcoin: Although it is thought to have broken the 12-day price decline for Bitcoin (BTC), the leader of the crypto market, the fear index shows the opposite Although some analysts are optimistic about the future of Bitcoin (BTC), the world’s largest cryptocurrency, values show that this year has been very bad for Bitcoin. Although Bitcoin (BTC) has been recovering and rising from time to time since 2022 started, it cannot break the downtrend in general. On an annual basis, BTC shows a decrease of up to 36% in a 1-year total.
BTC Price Trend
Moreover bitcoin It is also seen that . Therefore, with Bitcoin’s decline today after yesterday’s recovery, the crypto market continues in a downward trend. At the time of this writing, BTC is trading at around $40,137, down 2.49%. The $40,000 support level is important for BTC. Looking at the first three months of 2022, 40,000 dollars, BTC represents the lowest level of support for In addition, BTC shows a weekly decrease of 7.5%, while maintaining a monthly increase of 4.5%.
Although BTC’s downtrend is a disaster scenario for the crypto market, some analysts argue that it is a buying opportunity for investors. Alex Kuptsikevich, senior analyst at FxPro, argues that BTC will fall to the levels of $ 38,000, but after this bottom, it will now rise to the expected level.
Extreme Fear Zone
on the other hand crypto- The fear and greed index, which feels the pulse of the market and expresses the situation of investors, is around 22 as of today. A low index indicates fear, and a high index indicates greed. Therefore, this index extreme fear it shows in the area. Last week, this index was advancing around 37 and even reached as high as 60 the previous week.
In addition, analysts add that we will now see more volatile prices for BTC in the coming weeks. DailyFX analyst Paul Robinson states that BTC will start to increase again towards the middle of the year, but we will see decreases and increases together in this process.