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Fear has still dominated the market in the past few weeks, the greed and fear index has remained at the Extreme fear level as shared in the previous post, and except for looking at this index, we can see 1 Santiment’s perspective is a company that also has indicators to measure investor sentiment. From here, we can see that the level of fear now is almost the same as around May of last year when the price dropped deeply, losing 50% of its value to about $30k. Although the current price is already higher than that time.
Looking at the Google Trends chart below, over the past 5 years of the world searching for keywords about Bitcoin, it is possible that the excitement of new, retail investors has decreased, compared to time. In 2017, when BTC was around $20,000, we are still far from that time. This is also seen from a document from Will Clemente shared at the end of the previous post on trading volume.
Despite the dismal prices over the past few weeks, we see more BTC and ETH leaving exchanges than being deposited into exchanges.
That is the short term, but looking at the longer term frame, one thing is clear that BTC and ETH continue to leave exchanges very quickly.
Moving to the number of leveraged orders, it is still at its highest level in more than a year.
One more perspective from the NUPL index, we also see the level of fear of investors when the index has touched the brown area (fear).
And at this price, only 71% of BTC moves profitably on the network.
On January 3, 2009, Satoshi created the first block for BTC. And also January 3, 1977, Apple officially registered to become a company.
Coincidentally at this time, it was reported that the first company in the world became the first US company with a market capitalization of $ 3000 billion.
13 years ago, Satoshi put the message in the first genesis block:
“Prime Minister [🇬🇧] There is a second bailout for the banks.”
1- The reason why there is #BTC – against inflation & economic crisis
2- Mark this date, this block could not have been earlier because at the same time on January 3, 2009 The Times article talked about the bailout package that would come from the British prime minister.
A research paper from the famous investment bank Goldman Sachs says that #BTC is a separate asset class and has the potential to have a larger market capitalization than gold… According to Goldman Sachs, they predict the number of users in the future. BTC will increase 8 times now higher than gold.
As we see all the time, not only investors, technology lovers, banks, large companies and countries participate in the Crypto market but also penetrate the US Congress. , mentioned by MPs.
“#Bitcoin is an essential element in realizing the modern American Dream.” – Cynthia Lummis, United States Senator
Thank you all for reading this article. See you in the next post. Thank you
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