The Bitcoin price is drawn to these days is difficult from the current events around the spread of the Corona Virus and the resulting fear of the economic consequences. The financial markets around the globe are in a tailspin, and also Bitcoin takes this direction. Actually, was just released in the last months of unrest with a positive history for the Bitcoin exchange rate in connection. These include, for example, the conflicts of the USA with Iran from the beginning of the year, but also the early propagation phase of the Corona-Virus was regarded at the time as a reason why the price shot back above the 10,000 USD mark.But now, the Situation looks quite different. The fear of a recession in the economy and the Corona Virus as a “Black Swan Event” is driven like a Sow on the financial markets. The Bitcoin exchange rate behaves now rather than risk investment and not as a “Safe haven”, as its reputation as a digital Gold it actually said.2 indicators, which foreshadows the mood of the market to absorb nothing Good can. The Bitcoin exchange rate is more at the abyss?
Bitcoin Price Decline
A detailed analysis of the Bitcoin price, and of all the reasons elaborated in our Chart Analyst Felix yesterday already for you. This can be found here. For all the others, we summarize the events here.The Bitcoin exchange rate was almost exactly a month over the magic, for the first time, a 5-to-find-digit brand of 10,000 USD. Many of you saw already the way for a new all-time high. But then everything changed.The price of a Bitcoin slumped until the beginning of March on below of 8,500 USD. Until Saturday, the Momentum was reversed and then again slightly, until the Bitcoin exchange rate was located at 9100 USD back above the USD 9,000 mark. But since it goes downhill. The previous Low was reached on Monday at approx. 7.650 USD. Currently the course is doped at about 7.850 USD.The best and safest stock market choose for you to opt for the right provider is not always easy. Therefore, we recommend that you take a look at our Bitcoin brokers & exchanges to throw a comparison. Trading on the safest and best exchanges in the world! For Comparison
2 indicators show nothing Good
As if that were not enough, to show 2 indicators, both the mood (Sentiment) of the market reflect that it could go with the Bitcoin exchange rate continue in the direction of the South.The Bitcoin Fear & Greed Index (German: Bitcoin fear & greed Index) is to be mentioned here. This is currently at a very low value of 17, which is the level of the December is reached.Very well the deterioration of the mood of the Bitcoin exchange rate on the course of the Bitcoin Fear & Greed Index can be reconstructed. This is since last month (value: 65) on the descending Branch.In addition, data of the “Skew” indicate that the relationship between Put and Call options for Bitcoin is changed. This ratio reached a value of 1.42, which is also here again the values that were last accessed, when the Bitcoin price was at 7,200 USD, so nearly 8% lower than currently.Explanation: the Put options the right for a Trader to sell his Bitcoin. With Call options, they can do about it, from the right to buy Bitcoin at a specified price. Since the ratio is now increasing rapidly on the value of 1, this means that more traders want to through the right to a sale against possible further losses.
Thus, this indicator also shows that the mood is still very bad, what can of course have an impact on the future course of the Bitcoin exchange rate. Of course, these indicators capture only the current Sentiment, but in retrospect, a self-fulfilling prophecy.How it goes with the Bitcoin exchange rate further, much of the macro-economic development and the spread of the Corona Virus affects. Since a quick recovery is not to recognize, remains to be seen whether the two indicators are to keep the law, or whether Bitcoin is its reputation as a digital Gold, and “Safe harbour”, however needs. No matter how it comes, every Trader and Investor needs a reliable Partner at his side, he can to the rising, but also falling share prices.
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