 ▲ Bitcoin (BTC) ©Coin Leaders |
The price of cryptocurrency leader Bitcoin (BTC) is trading in the $60,000 range on the 29th (Korean time).
According to CoinMarketCap, as of 11:22 am on this day, the price of one Bitcoin is trading at $60,755, down 1.88% from 24 hours ago.
At one point on this day, the price fell below $60,000, and fell below the $60,000 level again three days after the 25th.
Investment sentiment also appears to be worsening.
Cryptocurrency data provider Alternative's self-estimated 'Fear and Greed Index' recorded 30, down 17 points from the previous day.
The pitching got worse and went from neutral to fearful.
The closer the index is to 0, the more extreme market fear it is, and the closer it is to 100, the more extreme optimism it is.
According to WooBlockchain, QCP Capital, a Singapore-based cryptocurrency trading company, said, “The cryptocurrency market must handle not only government agencies but also selling volumes from Mt. Gox. For this reason, BTC can test the $50,000 range. “In our opinion, we think the potential selling volume is exaggerated and the market will move sideways in the range.”
Cointelegraph also predicted, “Bitcoin is expected to continue its sideways trend within the range as traders begin buying at low prices below $60,000.”
Meanwhile, CryptoQuant CEO Joo Ki-young said through “We switched to another proof-of-work (POW) coin to hedge the uncertainty,” he said.
Julio Moreno, senior analyst at CryptoQuant, said through “It fell 7.6%, and it was at the bottom of the cycle after the FTX bankruptcy,” he analyzed.
