Bitcoin falls into the “extreme fear” zone, the BitcoinFear index shows 21
invented by the team of alternative.me portal shows that today, on September 3, the cryptocurrency market feels “extreme fear”. The index shows 21.Bitcoin pushed into “extreme fear” zone
On Friday, August 2, the leading digital currency dropped from the $20,000 level it had managed to hold for a while and slumped a little, hitting the $19,800 area. It had made several attempts to regain $20,000 but Bitcoin failed to get fixed on that price line. Prior to that, the regular jobs report came out with US unemployment data. Figures in it proved to be higher than expected – 3.7 percent versus 3.5 percent, which hit the stock market and cryptocurrency one along with it.However, the non-farm payrolls showed 317,000 of added payrolls versus the 350,000 expected. This indicates that the Fed Reserve will hardly make a pivot from its current hawkish strategy.
The Fed chairman Jerome Powell spread the word about the continuation of the hawkish policy of the US central bank on August 26 in his speech to bankers. On that day, Bitcoin began its current slide and fell below the $21,000+ level. Even though, the aforementioned index shows a low value, the team of the website warns that the time of “extreme fear” on the market can present a good buying opportunity for the asset.
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