Bitcoin seem to struggle to chose it route
April 22, 2020 @ 12:18 +03:00
Bitcoin little changed in 24 hours, remaining at $6,900. Daily trading volumes sank by 13%. Alternative coins show similar price dynamics, being barely in the green zone. The Crypto Fear & Greed Index rose 6 points from last week, remaining in the “extreme fear” area.
The crypto market does not seem to have decided yet whether it should follow the oil downwards or grow as a safe-haven amid increasing deleveraging in traditional markets. Maximum uncertainty around oil, stocks, ominous signs of an impending global economic catastrophe – all this cannot but affect the prospects for Bitcoin, which worked its way from a “pirate” project to a stage close enough to the financial mainstream.
Even halving is rarely remembered at the moment, although it is only a few weeks away. The event itself will likely influence only technical factors in the first months. In contrast, fundamental changes, as well as the impact on the price of the first cryptocurrency, will be felt in the following months.
The FxPro Analyst Team