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Presently, Bitcoin (BTC) is trading close to the $41,000 – $42,000 support zone. Though, people are scared right now, we have much to gain from the present conditions.

Crypto trading pro, Michael van de Poppe said that due to the swift dip that took place on January 10 when Bitcoin shortly dropped lower than $40,000, BTC has attained an extended time frame for support, which subsequently built the foundation for additional financial benefits to materialize.

Poppe expressed that:

“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 actually seeing right now is a case of the ultimate fear which is actually granting you the maximum financial opportunities.”

 

BTC Market Sentiment

Owing to the recent dip, the Bitcoin Fear and Greed Index is now at 21 from the last review on Jan. 11, but more improved than a sentiment of 15, which it displayed on Jan. 6. Since July 21, 2021, this has been its lowest point.

The Bitcoin Fear and Greed Index that measures the overall sentiment of the Bitcoin society regarding Bitcoin, still follows the domain of “Extreme Fear.”

Regardless the “Extreme Fear,” Poppe saw this as an opportunity to search for an entry:

“If you are looking for entries and you can see and smell the actual fear in the markets and the sentiment right now that is giving you an additional argument to actually look for those.”

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