Increase in “Bitcoin (BTC) Dies, Never Recovered” Expressions

Crypto trader and analyst cryptobirb He talked about the feelings and expectations of the Bitcoin (BTC) community caused by painful recession.

According to CryptoBirb, it is necessary to separate market trends from the emotions of the participants. CryptoBirb stated that people use the expressions “Bitcoin is Dead”, “It Will Never Survive” based on excessive market fear. To prove their testimony, the trader showed the CNN’s Fear and Greed Index, which is an integrated indicator of market sentiment. Over the past few days, this index has dropped below 5 points out of 100, namely ‘Extreme Fear’. A month ago, it was 49 points out of 100, ie ‘Neutral’.

$ BTC is dead, will never recover narrative is easily told by extreme fear sentiment. Nothing bullish about breaking trendline, while investors monitor trends (directional movements) over trendlines. Trends may include deviations. Next weeks will define the future for all of us? pic.twitter.com/bnwhhxuqk to

– Crypto₿irb (@crypto_birb) March 17, 2020

No fear

However, CryptoBirb admitted that the Bitcoin (BTC) price chart showed a lot of drop when it went below the trend line. This can scare investors who are very careful about the long-term trends in price behavior. However, the bulls are not ready to throw their towels. CryptoBirb believes we should wait a little longer. This recommendation may be the most prudent advice for the vast majority of market participants. High volatility periods may not be the best times to enter spot markets such as derivative markets or margin trading.