The head of the Binance exchange, Changpeng Zhao , retweeted the post that, in spite of panic sales, now is the right time to buy digital gold.
The Crypto Fear & Greed Index has not been this low since December 15th 2018.
That was when #Bitcoin bottomed and slowly started to recover and making new higher lows.
Remember what happened next? An increase from $ 3,200 to $ 13,800 in 6 months!
This is a good time to buy $ BTC pic.twitter.com/7TGRkcxnhX
– CryptosBatman ⚡ (@CryptosBatman) August 14, 2019
The author of the post CryptosBatman claims that the cryptocurrency “fear and greed index” is now at its lowest levels since December 15, 2018. It was then that the price of bitcoin reached the bottom at $ 3200 and began a gradual recovery.
“Remember what happened next?” Growth from $ 3,200 to $ 13,800 in 6 months! This is a good time to buy BTC, ” the analyst shares.
Meanwhile, on the half-hour chart, you can see how the price finally rebounded from the $ 9500 level:
TradingView's BTC / USD Bitstamp Half-hour Chart
However, do not forget that after such a rapid decline, the reversal should be confirmed by growing trading volumes. Otherwise, the rebound may turn out to be nothing more than a “dead cat jump” before continuing to fall to the level of $ 9000.
Recall, Goldman Sachs analysts are confident that in the short term, Bitcoin will reach $ 13,971 .
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