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Topic: Bitcoin starting to recover - page 5. (Read 949 times)

hero member
Activity: 2282
Merit: 659
Looking for gigs
May 25, 2021, 06:20:39 AM
#4
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 Index
The Fear & Greed Index data shows data that hasn’t been seen since April 2020, when the crypto market underwent a deep correction.https://twitter.com/MatiGreenspan/status/1396403303114813441

At that time, there was a deep correction of Bitcoin (more than 50%) due to the announcement of the Covid-19 pandemic. At that time, the majority of market participants referred to the correction by Bitcoin and the crypto market as “Black Thursday” or “Dark Thursday.” However, it was an excellent time to make a purchase.
The same phenomena is happening, wherein the market corrected more than 50% — a sign of high recovery if the same thing is actually happening.

2. Stock to Flow Model
Apart from the Fear & Greed Index data, the Stock to Flow (S2F) Model, which generally predicts the movement of Bitcoin, also shows the same thing. The Stock to Flow predicts that the lower limit of the correction is $30,000
https://twitter.com/100trillionUSD/status/1396021832130744320

3. The Number of Stablecoins on the Exchange Increases
The number of stablecoins that are on the majority of the world’s exchanges is currently at its highest which is a sign that there are large parties waiting to buy. However, there is another possibility that this figure is a flow of funds from new investors who have recently entered the crypto ecosystem.

All these signs move together to prove that there is a potential for Bitcoin to recover in near future. It seems that now is the right time for Bitcoin to start recovering.

Source: https://medium.com/snapbots-news/snapbots-news-review-good-sign-for-the-crypto-market-bitcoin-starting-to-recover-a5a143c94482


Yes it even tried to reach $40k, but I am calling it as the resistance level. The whales have allocated 125k+ BTC when it dipped to $32k, and I can say it is gonna be the strong support level. It may take a while for us to see BTC going forward as we are still in the consolidation phase where it is currently trading sideways between $33k to $40k. I think maybe next month would be a great start for us to see another potential healthy bull run for Bitcoin and other cryptocurrencies.
full member
Activity: 574
Merit: 102
https://adonx.one
May 25, 2021, 06:12:25 AM
#3
Back to 2017, when that time for bullish season, any negative statement of FUD only temporary impacted on the market. And the current FUD, I believe will be the samething. The market will back for bullish season, we should more patient waiting for that. Many new investors will see the current price as a cheap price and they think a good time to buy it. I was make analysis based on history price and technical  I predict the price back to the top again in 3-4 month.
sr. member
Activity: 1624
Merit: 315
Leading Crypto Sports Betting & Casino Platform
May 25, 2021, 05:34:43 AM
#2
I hope that you are right OP, although I do like that it is recovering really early, I am a bit frustrated that it won't go down much deeper because I want to increase the bitcoin that I have so I can get more profit.
jr. member
Activity: 36
Merit: 1
May 25, 2021, 05:28:27 AM
#1
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 Index
The Fear & Greed Index data shows data that hasn’t been seen since April 2020, when the crypto market underwent a deep correction.https://twitter.com/MatiGreenspan/status/1396403303114813441

At that time, there was a deep correction of Bitcoin (more than 50%) due to the announcement of the Covid-19 pandemic. At that time, the majority of market participants referred to the correction by Bitcoin and the crypto market as “Black Thursday” or “Dark Thursday.” However, it was an excellent time to make a purchase.
The same phenomena is happening, wherein the market corrected more than 50% — a sign of high recovery if the same thing is actually happening.

2. Stock to Flow Model
Apart from the Fear & Greed Index data, the Stock to Flow (S2F) Model, which generally predicts the movement of Bitcoin, also shows the same thing. The Stock to Flow predicts that the lower limit of the correction is $30,000
https://twitter.com/100trillionUSD/status/1396021832130744320

3. The Number of Stablecoins on the Exchange Increases
The number of stablecoins that are on the majority of the world’s exchanges is currently at its highest which is a sign that there are large parties waiting to buy. However, there is another possibility that this figure is a flow of funds from new investors who have recently entered the crypto ecosystem.

All these signs move together to prove that there is a potential for Bitcoin to recover in near future. It seems that now is the right time for Bitcoin to start recovering.

Source: https://medium.com/snapbots-news/snapbots-news-review-good-sign-for-the-crypto-market-bitcoin-starting-to-recover-a5a143c94482
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