Fear flies in the air: Bitcoin smiles on the horizon

Bitcoin price reflects fear and Greed Index
On July 1, bitcoin hashreyt, which has historically positively impacted the price, fell.
Ethereum address activity surpassed bitcoin activity for the first time in history.
Current price action still limits corporate and retail interest in bitcoin and other cryptocurrencies.

The media and traditional verbal informants like your taxi driver no longer advise you on buying and trading bitcoins. Enthusiasm for cryptocurrencies is falling as Bitcoin dips below the psychological resistance level of $ 30,000 before bouncing back. Volatility, however, is a cryptocurrency label that is nothing new to investors. The exodus of Chinese, coupled with environmental concerns, has stalled bitcoin and created fear among investors.

Investor sentiment weakened

Despite the bullish attempt to boost the value of bitcoin, the fear and Greed Index is below 25. Plan B, a cryptanalyst, presented the results of a survey comparing differences of opinion to a 3-month difference. The new result shows that 41% of people who think of bitcoin will be under $ 100k this year, compared with 16% who shared their views in March, when bitcoin was $ 55,000.

CNBC analyst Jim Kramer said he was selling “most of his bitcoin,” even cutting off his crypto business before the negative events ended. Bitcoin may not perform currency functions as it advances as digital gold, but the prospect of higher financial returns is attracting investors.

The exodus of Chinese has heightened investor concerns, glassnode data shows, with miners resorting to selling bitcoin to fund their moves. Similarly, Glassnode stresses that the week’s bitcoin losses were $ 3.45 billion, prompting investors to cut their positions, fearing a sharper downward trend. The decline of heshreyt and restrictions imposed on Chinese miners forced the owners to sell BTC to support their business.

Time and place

Etheric chell

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