Summary
- The Bitcoin Fear and Greed Index being in a state of 'extreme fear' indicates that Bitcoin has reached bottom, according to reports.
- Bitcoin is likely to rebound in the coming weeks, and in similar past situations, it rose by 100%, according to reports.
- Current market volatility is attributed to macroeconomic uncertainty, and improvement in overall investment sentiment will increase the validity of the investment timing, according to reports.
Amid Bitcoin (BTC) Fear and Greed Index maintaining 'extreme fear', an analysis has emerged suggesting that Bitcoin could rebound.
On the 5th (local time), CoinDesk reported, "The Bitcoin Fear and Greed Index has been maintaining 'extreme fear' for several days," adding that "this is a signal that Bitcoin price has reached the bottom." It further stated that "Bitcoin is likely to rebound in the next few weeks," noting that in similar past situations, Bitcoin rose by 100%.
Vincent Liu, Chief Investment Officer (CIO) of Chronos Research, said, "This is the first time the Bitcoin Fear and Greed Index has reached 'extreme fear' since last September," adding that "this could be an important low point. After last September, Bitcoin doubled in three months." He continued, "The current market volatility is due to the trade war and macroeconomic uncertainty," and added, "If overall investment sentiment improves, this will be considered the optimal time to invest."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
