Bit-comment: what does not grow – falls

Over the past 24 hours, Bitcoin has shown a decline of almost 3% and is trading for $ 34,000. Thus, the benchmark cryptocurrency continues to be in a sideways price trend. Since the phrase “what does not grow – falls” is relevant for the crypto market, the longer the coin experiences difficulties in determining the direction of movement, the higher the likelihood of continuing the fall.

The Greed and Fear Index for Bitcoin and the largest cryptocurrencies is at around 28, which corresponds to the “fear “Until recently, this indicator was in” extreme fear “mode, and has now been able to switch” to the next gear “thanks to the recent bounce in the price. As the end of the week approaches, the sideways trend will be increasingly perceived by the reluctance of large investors to accept any solutions, waiting for the situation in the traditional market to unfold. The retail sector is also likely to switch to standby mode, which will be seen in a sideways trend over the weekend. Market participants understand that it is impossible to print and borrow money forever, so sooner or later the reboot phase will begin. and this time it can be quite painful. this process can be a blow for cryptocurrencies, however, given the fact that there are not many technological assets with limited emission left in the global economy, Bitcoin will receive its support. In addition, an active global trade war will lead to the fact that the states themselves will need an asset that does not obey borders and regulation.