• Bitcoin’s price dropped on Saturday, causing the majority of the crypto market to fall with it.
• Investors are expecting a further decline in the digital asset’s value, with a median prediction of 5.67% losses by the end of March and 17% losses by end of May.
• According to the Crypto Fear & Greed Index, investors are still feeling very neutral when it comes to the market.
Crypto Market Reeling from Bitcoin Price Drop
The crypto market is still reeling from Bitcoin’s price drop on Saturday, as the largest cryptocurrency by market cap took a majority of the market down with it after succumbing to bearish trends.
More Losses Expected
Investors expect more downtrend for bitcoin, with over 11,000 votes collected for March giving out a median expected price of $21,084 – representing a 5.67% decline from current prices. If this prediction were to come true, it would mean that bitcoin would have to lose another $1,200 from its value and plunge the crypto market further into bear territory.
Investor Sentiment Remains Neutral
According to the Crypto Fear & Greed Index, investors remain relatively neutral when it comes to their sentiment towards the market despite this downturn in prices. This neutrality can easily be influenced either side depending on how low prices go – making chances for further decline higher as we go forward.
A further decline in investor sentiment could spell disaster for bitcoin and other cryptocurrencies as well – resulting in an even bigger crash than we have already seen so far this month.
It is clear that the crypto markets will continue to face volatility due to bearish trends surrounding bitcoin’s price movements and investor sentiment towards them. Whether or not these bearish predictions come true remains to be seen but one thing is sure; investors should proceed with caution when investing in digital assets during times like these and always make sure they know what risks they are taking before jumping into any position.