- The crypto market is still reeling from Bitcoin’s price drop.
- Investors on Coinmarketcap’s Price Estimates feature expect more downtrend for bitcoin.
- According to the Crypto Fear & Greed Index, investors are still feeling neutral when it comes to the market.
Crypto Market Struggles After Bitcoin Price Drop
The crypto market is still in shock after a major price drop from the largest cryptocurrency by market cap, Bitcoin. This has caused the majority of digital assets to follow suit and succumb to bearish trends. Investors are expecting even further losses in the coming weeks with an estimated 5% loss by the end of March.
Coinmarketcap Price Estimates Feature
Coinmarketcap’s Price Estimates feature collects votes from community members regarding their expected prices for digital assets going forward. For bitcoin, current expectations are incredibly bearish as more than 11,000 votes predict a median price expectation of $21,084 by the end of March which represents a 5.67% decline from current prices. If this prediction were to come true, it would mean that bitcoin would have to lose another $1,200 causing further strain on the crypto market. Unfortunately, investors have maintained their bearish outlook for future months with approximately 17% losses predicted by May’s end.
Crypto Fear & Greed Index Readings
At present time according to the Crypto Fear & Greed Index readings investor sentiment remains neutral but could easily turn negative and fearful if prices continue on their downward trajectory as seen with bitcoin’s recent crash where it lost $1,200 in just one hour. Neutral sentiment such as this can be easily influenced either side given that prices remain low at this point in time so any negative news or events could quickly push sentiment down even further and affect prices accordingly.
Conclusion Given current estimates and readings from various sources it appears that investors remain guarded against any potential recovery in the near future and believe that continued downtrend is likely given current conditions. As always investors should do their own research before making any investment decisions as past performance does not guarantee similar results moving forward .
< h2 >Wild Offer – 150 % Welcome Bonus Plus 100 Free Spins! h2 >Don’t wait! Jump on this Crypto Deal and get a 150% Welcome Bonus plus 100 Free Spins on your deposit today!