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Fear and Greed Index
The bullish rebound of Bitcoin returned this asset to its original position. This statement is confirmed by the values of the index of fear and greed, which remained in the zone of extreme fear and lost only one point. In fact, if the indicator were updated in real time, and not every day, then yesterday, we could observe indicators below the 10 point mark. It is even possible that the values were close to 5. However, the drop was localized by the intervention of the whale, which took advantage of the weakness of the first cryptocurrency and averaged its position.
Why are big players buying even despite the cryptocurrency winter? The fact is that even if the price of BTC drops to levels close to $10,000 or lower, this will in any case end with the beginning of a new growth. As soon as the market decides that bitcoin has reached its bottom, active purchases will begin, which, in the long run, will bring tangible profits to the whales replenishing their portfolios. Moreover, I am sure that as soon as BTC drops to lower levels and retail players begin to show interest in it, positive newsbreaks will appear in the media, the purpose of which will be to support the new trend.
Many expected that before the beginning of the cryptocurrency winter, the market of alternative cryptocurrencies would have its say. However, with the latest collapse of the first cryptocurrency, the alt-season index also dropped significantly, which in itself is a strong signal that there will be no season of increased activity of alternative digital assets.
TOP 10 altcoins
Top alternative cryptocurrencies continue to lose value. Based on the bitcoin analytics, I can assume that the alt dump will continue, so replenishing the portfolio now may be a premature decision.
If you do add to your investment portfolio, then consider it as a long-term investment and be prepared for averaging.
Cosmos (ATOM) becomes the daily gainer with a yield of 6.7%.
The loser of the day with a loss of 7.5% is Dash (DASH).
#Altcoins #Cosmos #ATOM #Dash #DASH