So-Called ‘Extreme Fear’ Currently Underway On The Bitcoin Network
cryptolove last edited by
Throughout the world, we are currently going through a tough time. And that’s only putting it lightly…
When it comes to the crypto space, there are many coins and tokens that I’m going through what you could call a dry spell. The price movement for the lead in cryptocurrency bitcoin seems to be stuck as it limits itself to the $7000 range after many pullbacks and short-lived surges.
When the markets crashed on the 12th of March last month, the world went into a frenzy as it wasn’t just the crypto space that fell on hard times. Since then, not much has changed. All the signs put together don’t necessarily show a positive future for the leading coin but they also don’t show a negative one either.
Essentially, everything is up in the air right now.
Ever since the 12th of March, bitcoin has been in an extreme fear zone and it has been indicating that the currency is undervalued. As this so-called fear zone took hold of the leading coin, another bearish indicator suggested that bitcoins underlying network health by calculating the number of new addresses.
One report showed, “Over the past week, Bitcoin averaged a total of 382.95 thousand new addresses per day vs 448.27 thousand addresses that went to zero per day.”