Analysts explained that there are huge opportunities in this crash situation because this dump is an opportunity.
Due to Federal Reserve interest triple hike calendar release and low Bitcoin network hash rate crashed the market in more than three phases. However, at present, the market is showing a better situation over the last few days.
At the time of writing this article, the price of Bitcoin is $41,901. And this price of Bitcoin is 66% low over the last 90 days and 16% over the last 7 days.
Michael van de Poppe is a leading crypto trading expert. He stated that the price of Bitcoin that was below $40,000 in a dip on 10 January will remain stable for the long term. That means, Bitcoin now will fluctuate around $40,000 for a long time, with better support.
“We’ve dipped into higher time frame support while the actual fear in the markets has reached new peak highs which we’ve not seen since May 2021. What we are seeing right now is a case of the ultimate fear which is granting you the maximum financial opportunities,” he said.
So in this way, he tried to say that Bitcoin with this better support has better financial opportunities.
Bitcoin market sentiment
Right now technical analysis and support for Bitcoin are much better. Today on 11 January, the Greed and fear index is 21, which is far much better than the 15 that was on 6 January, which was much lower after 21 July.
Bitcoin Greed and Fear index is a number that indicates how much people are bearish or bullish in the current crypto market situation. Lower the index number bearish the indication and higher means high people are confident to buy more and more Bitcoins at even high prices.