Cryptocurrencies

Bitcoin Sentiment Shifts to ‘Fear’ – BTC, Ethereum, XRP, Litecoin Forecasts

By August 13, 2019 No Comments

This article was originally published here.


 

As Bitcoin bears drag the leading cryptocurrency below $11,000, the overall sentiment on BTC is now in the fear zone, according to a popular index from Alternative.me.

The Fear & Greed index analyzes market volatility, social media and surveys to measure the sentiment among crypto traders.

On Saturday the index registered 59, indicating greed, as Bitcoin traded sideways between $11,381 and  $11,440. It currently registers at 45, a sign that investors are worried the price may drop further.

Latest Crypto Fear & Greed Index

Run by the developers and creators of Strawpoll.com and Thundercheck.org, the index shows that when traders are fearful, a market correction is typically underway. The needle is designed to shift into “extreme fear” when a significant correction has taken place, indicating that investors are overly worried and that a buying opportunity could be at hand.

Right now, Bitcoin is down 4.08% at $10,976 according to COIN360. Ethereum is down 1.73% at $208.69, XRP is down 0.90% at $0.2992 and Litecoin is down 2.09% at $84.22.

Source: COIN360

Crypto Daily analyst Jefe Caan says he believes BTC is likely to dip below $10,000 in the coming weeks.

“Bitcoin has already begun its downtrend to the bottom of the descending triangle and the price has just broken below the fib circle on the weekly chart.

It would not be surprising to see the price decline straight to the bottom of the descending triangle in a matter of one or two weeks.”

Here’s a look at the latest forecasts from across the cryptosphere.

Bitcoin

Crypto DailyBitcoin likely to plunge Below $10,000 in the weeks ahead

CoinDeskBearish reversal confirmed only if BTC ends current month below $9,049

Ethereum

FXStreetETH/USD closing in on $200 support as cryptos dump

XRP

NewsBTCXRP struggling to recover amid negative sentiment

Litecoin

FX EmpireLitecoin’s first major resistance level at $88.70

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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