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"Extreme" Bitcoin warning scares the crypto market




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Bitcoin and cryptocurrency traders and investors are nervously watching prices as market sentiment worsens and has fallen to its lowest level since December 2018.

] The Bitcoin price has been hovering around $ 10,000 per bitcoin for several weeks, and many are hoping Bitcoin will be a safe haven for turbulent markets.

Bitcoin and crypto investors are worried, however, because the Crypto Fear and Greed Index The following indicates "extreme fear" and dropped this week to a 244-day low last seen when Bitcoin collapsed to around $ 3,000.

x reached an all-time high at the end of June The rival has reached fever pitch, but has since plunged as regulators signaled their dissatisfaction with the social media giants.

"The current regulatory hurdle to Facebook's digital token plans has dampened investor sentiment over cryptocurrencies," said Christel Quek, chief commercial officer at Bolt Global, a cryptocurrency purses and entertainment company.

The fear index is currently showing a value of 20 but has dropped to a low of 11 since the beginning of this week after a sharp fall in August.

Since the index reached its lows since the beginning of the year, the Bitcoin price has dropped another 2% while the total cryptocurrency has dropped More than $ 30 billion has been wiped off the market last week.

Meanwhile, this week's Bitcoin price fell below the $ 10,000 per bitcoin psychological mark, further disturbing traders and investors.

Some companies in the bitcoin and cryptocurrency industry have indicated that the broader cryptocurrency market has declined along with the Bitcoin price concerns about a slowing economy, "Quek added.

The fear index created by the site and software firm Alternative.me calculates the index value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance and trends, zero means "extreme fear" while 100 means "extreme greed".

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Traders and investors in Bitcoin and cryptocurrencies are watching the markets nervously as market sentiment seems to be worsening, falling to their lowest level since December 20 18.

The Bitcoin price has been hovering around $ 10,000 per Bitcoin for several weeks, and many hoped Bitcoin would become a safe haven from turbulent markets.

Bitcoin and crypto investors, however, are worried about the crypto The Fear and Greed Index is "extremely scared" and dropped to a 244-day low earlier this week when Bitcoin crashed to around $ 3,000.

The fear index reached an all-time high at the end of June oks Plans for its Bitcoin rival reached fever, but have since failed when supervisors signaled their dissatisfaction with the social media giants.

"The current regulatory drag on Facebook's plans for its digital token has dampened investor sentiment for crypto currencies," said Christel Quek, chief commercial officer at Bolt Global, a cryptocurrency wallet provider and entertainment company.

The Scare Index is currently showing a value of 20 but has dropped to a low of 11 since the beginning of this week after a sharp fall in August.

Since the index reached its lows since the beginning of the year, the Bitcoin price has dropped another 2% while the total cryptocurrency has dropped More than $ 30 billion has been wiped off the market last week.

Meanwhile, this week's Bitcoin price fell below the $ 10,000 per bitcoin psychological mark, further disturbing traders and investors.

Some in the bitcoin and cryptocurrency industry indicated that the broader cryptocurrency market has declined along with the bitcoin price.

Bitcoin and key cryptocurrencies such as Litecoin, Ethereum and Ripples XRP have declined [this week] burdened by concerns about a slowing economy, "added Quek.

The fear index created by the site and software firm Alternative.me calculates the index value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance and trends, zero means "extreme fear" while 100 means "extreme greed".


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