• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news today, price & technical analysis
Price & Market
Cap Data from
Nomics Logo
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • TradeeToro
  • Buy SilverTry
No Result
View All Result
NewsBTC
No Result
View All Result
Price & Market
Cap Data from
Nomics Logo
Home Cryptocurrency news Bitcoin

Bitcoin is “Right Where It’s Supposed to Be” as Investors Grow Fearful

Cole Petersen by Cole Petersen
1 year ago
in Bitcoin, Cryptocurrency news
Reading Time: 2min read
Bitcoin BTC
Advertisement

Bitcoin (BTC) has found some stability in the time followings its capitulatory selloff seen over the past few days, with bulls stepping up and ardently defending against a drop below $8,800 – which appears to have become a near-term support level for the cryptocurrency.

Analysts are now noting that the ongoing pullback has led BTC’s price right to where it is “supposed to be,” with it still maintaining above a key growth curve that has been guiding its decade long uptrend.

This comes as investors begin growing highly fearful, which is typically a bullish sign that can be used as a counter-indicator.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Bitcoin Stabilizes Around $8,800 as Investors Grow Fearful 

At the time of writing, Bitcoin is trading down just over 1% at its current price of $8,880, marking a notable decline from daily highs of over $9,300.

It is important to note that BTC has been able to find solid support within the mid-$8,000 region, with the cryptocurrency’s bulls posting a strong defense of this level during the intense overnight selloff.

In the near-term, the crypto still remains in precarious territory despite its stability, with its ongoing downtrend doing significant damage to the highly bullish market structure that had been formed throughout the first two months of 2020.

This recent movement has also done damage to the euphoria of many investors, with the crypto’s “fear and greed index” showing that investors are growing increasingly fearful.

Mr. Anderson, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, saying:

“BTC Fear & Greed: I would have expected an ‘Extreme Fear’ reading. Fear is reasonable at this stage. BTC is testing is Daily 200s and its 21-week ema w/ a monthly close this week as well. Expect turbulence up and down!”

#BTC Fear & Greed

I would have expected an "Extreme Fear" reading.

Fear is reasonable at this stage.$BTC is testing is Daily 200s and it's 21-week ema w/ a monthly close this week as well.

Expect turbulence up and down! pic.twitter.com/dI6abCB6p6

— Mr. Anderson (@TrueCrypto28) February 27, 2020

BTC Still Trading Well-Above Decade-Long Growth Curve

It is important to keep in mind that Bitcoin is still trading significantly above a critical growth curve, with its current trading phase marking a bout of consolidation before it is able to begin climbing higher.

Dave the Wave, another popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, explaining that it should “allay anxieties.”

“Zooming out, price is exactly where it is meant to be [was predicted to be on the basis of the log growth curve and the lengthening cycle].  The macro picture should serve to allay anxieties [and restrain excitements] with the shorter term volatility,” he explained while referencing the chart seen below.

Zooming out, price is exactly where it is meant to be [was predicted to be on the basis of the log growth curve and the lengthening cycle]. The macro picture should serve to allay anxieties [and restrain excitements] with the shorter term volatility…. pic.twitter.com/qv80Xqu3WT

— dave the wave (@davthewave) February 27, 2020

If Bitcoin continues inching lower in the near-term, it is probable that investors’ fear will continue to mount, potentially acting as a bullish counter-indicator.

Featured image from Shutterstock.
Tags: bitcoinbtccrypto
TweetShare11
Nexo Logo
BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Win up to $1,000,000 in One Spin at CryptoSlots
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

Related Posts

DAFI

How DAFI Protocol Rewards Long-Term Token Holders and Supports Sustainable Project Growth

8 hours ago
bitcoin and Ethereum macro beating

Economist: Ethereum and Bitcoin Look “Bullish” After Withstanding “Macro Beating”

2 days ago
paradox

How Paradox Group Is Helping DeFi

2 days ago
Bitcoin, cryptocurrency, BTCUSD, BTCUSDT

Bitcoin Bearish Correction Pauses: Focus Remains on Dollar and Yields

2 days ago
Cardano, ADABTC, ADAUSD, ADA, cryptocurrency

Cardano (ADA) Death Cross Spells Worries Despite Bullish “Mary” Fork

2 days ago
oddz

Leading on-Chain Option Trading Protocol Oddz Finance Announces Its Public Distribution IDO on Polkastarter

2 days ago

Premium Partners

Top Brokers

eToro

eToro

Review · Visit
Evolve Markets

Evolve Markets

Review · Visit
ArbiSmart

ArbiSmart

Review · Visit
PrimeXBT

PrimeXBT

Review · Visit
Moneta Markets

Moneta Markets

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bonusfinder DE

Bonusfinder DE

Review · Visit
Bspin

Bspin

Review · Visit
Wolf Bet

Wolf Bet

Review · Visit

Top Sportsbooks

1xBit

1xBit

Review · Visit

Press Releases

EcoCelium is Now Live – Ready to Mark the Next Step in DeFi

March 5, 2021

MXC Exchange Commits to Integrating USDC-SPL on Solana

March 5, 2021

Gambling Exhibition Ukrainian Gaming Week 2021: A Range of Products From Exhibiting Companies, an up-to-Date Program and a Special Offer

March 5, 2021

Newsletter Signup


ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Auto Trading Software ▸

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2020 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Cardano
    • Tezos
    • EOS
    • Chainlink
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Education
    • Accepting Bitcoin payments
    • Using Bitcoin
    • What is Bitcoin Mining
    • How to Trade Bitcoin
    • How to Buy Bitcoin
    • Digital Currency Exchange
    • Proof of Existence
    • Is Bitcoin legal?
    • Bitcoin Books
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Trade
  • Buy Silver

© 2020 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.