Thursday, July 29

Bitcoin (BTC) Is Preparing For A Big Rise According To Analyst Nicholas Merten

[ad_1]

analist nicholas mertene gore bitcoin btc buyuk bir yukselise hazirlaniyor

Popular cryptocurrency analyst Nicholas Merten looks at an important indicator that Bitcoin has bottomed and is poised for a big breakout.

Contact us to be instantly informed about the last minute developments. Twitter and Telegram You can follow our channel.

In a new strategy session, Merten takes a look at the fear and greed index, which measures the general sentiment of cryptocurrency traders and investors using a variety of data sources such as social media, Google trends, and surveys.

Merten points out that when the fear and greed index shows maximum optimism and enthusiasm, it’s usually a good time to sell. On the contrary, when the index shows maximum pain and concern as it does now, it is often a significant buying opportunity.

“When people are afraid, we are usually greedy. And when the overall market is greedy, we get scared. This is the enthusiasm we want to sell when the market is angry as it is now and everyone is taking high risks, investing in cryptocurrencies and not really caring about the price.”

The analyst says the fear and greed index usually doesn’t show maximum pain for long, and when it subsides, the price usually climbs with it:

“The simple point is this. So whether you think this is a bear market or a full mid-cycle retracement, the really interesting point is that the fear and greed index doesn’t stay at these levels for long. If we go up like we did in May and August, or do it in the fall, all three points will come at a time when the Bitcoin and cryptocurrency markets are on the rise.”

[ad_2]

1 Comment

Comments are closed.