Bit-comment: The crypto market holds positions after gain
March 25, 2020 @ 12:30 +03:00
Bitcoin has climbed 3% in the last 24 hours and traded around $6,700, but the main increase occurred yesterday morning, after which prices stabilized near last week’s highs. Altcoins are showing similar dynamics. However, the first cryptocurrency failed to break out from $6K area, and was unable to replicate the rally of global markets.
Over the last week, the Bitcoin Dominance Index rose by almost 2% to 65.7%. The Crypto Fear & Greed Index has increased by one point in the previous 24 hours, remaining in the “extreme fear” area. According to its creators, this indicates a right moment for purchase. The RSI index is in the neutral zone, after oversold, also giving a signal to buy. As unpleasant as it may be for crypto enthusiasts to realize this fact, but the situation around the epidemic, stock market, and central bank incentives will have a powerful impact on prospects for Bitcoin and the entire crypto market.
The FxPro Analyst Team