As Bitcoin’s price rose over $40,000. FOMO (fear of missing out) reached its height. Following a spike in price of Bitcoin to above $40,000. on February 26, the crypto started nervously at $39,000.
Bitcoin was fairly calm Saturday after a day with high volatility. With Bitcoin trading at $40,330 on Bitstamp and more good news from Cointelegraph Markets Pro, it appears that the market is stabilizing. TradingView revealing calmer situations going forward into Sunday morning’s session.
Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks| Cryptocurrency Prices Soar On Possibility Of Russia-Ukraine Talks
Also, Friday saw the fakeout phenomenon in the crypto market. This resulted in a decrease in volume over the weekend.
In the midst of issues that could bring about instability, geopolitical turmoil has been created in Russia and Ukraine.
This week, the Crypto Fear & Greed Index reached a new low, remaining within the 26/100 “concern” zone.
The Russia-Ukraine conflict has raised concerns in crypto-verse traders, who are worried about the impact it might have on Bitcoin prices. At least for the time, there is some humor. We can see that even though Long Term Bears were victorious after their latest $34300 low was set versus February’s dip down into psychological territory ($32 800), trading volumes suggest an opportunity just might exist again soon enough.
Analysts’ Reviews on Move
It is possible that the bear market has ended for now. Interview with Rekt Capital analyst, February’s coming down from $45,500 will most likely end up being “a vital” consolidation period where traders try to get back into buying mode before things go south again.
The end of this week saw a significant recovery for both Europe and U.S., as macro markets showed some stability after yesterday’s turmoil in the Asia Pacific caused by China’s economic data announcement that came out late Friday night.
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As hostilities increased again, the U.S. dollar soared in value. Its most beneficial features were rediscovered by the USD Forex Index (DXY), after it reached an all-time high of around 97.7%.
Top Trending Market Update
The entire cryptocurrency market looked good on Saturday. The top-ranked coins, led by Terra (LUNA), have seen an increase of around 50% in the last week.
Late beneficial properties, such as XRP, are still being used. Over the past 24 hours, the coin rose 10.3%.
Ether is in motion! ETH, an essential altcoin, traded at a market capital of $2,750 today, with 5.6% daily growth. This time, ETH is looking for valuable territory over $3,000
Featured Image from Pixabay. Chart by TradingView.com