The negative sentiment surrounding the crypto market seems to be continuing, especially with China still spreading FUD around the market. However, it seems that at the moment, there are some signs that could be the reason that a potential recovery may occur in the near future.
Although currently the majority of investors still have negative perceptions, there is some data that can prove that Bitcoin is beginning to recover. It should be noted that no one knows the end of this correction, but some of this data can aid to see the end of the correction.
1. Fear & Greed IndexThe Fear & Greed Index data shows data that hasn’t been seen since April 2020, when the crypto market underwent a deep correction.
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2. Stock to Flow Model-snip-
3. The Number of Stablecoins on the Exchange Increases-snip-
Source:
https://medium.com/snapbots-news/snapbots-news-review-good-sign-for-the-crypto-market-bitcoin-starting-to-recover-a5a143c944821. Yeah, the fear and greed index is a perfect indication of what might happen to the market soon. As the the price starts to increase, greed increases. More people may want to take profit. People starts to fear more and thus ends up dumping their coins. When price drop, fear drops and more people wants to invest to take full advantage of making profit.
2. First time I am hearing about this. How does this work? How did they predict the lowest is going to be $30,000?
3. How does this exactly indicates that the price is going to recover? Through exchange pairs?