Schiff claims that Bitcoin remains in a long-lasting bear market
Schiff has noted that the leading cryptocurrency is down 34% against gold after hitting its current high in November 2021.
On Saturday, the Bitcoin price plunged to an intraday low of $59,839, reaching its lowest price point since July 14. Meanwhile, Bitcoin's"Fear and Greed" indicator, which is helpful for gauging market sentiment, shows that traders have become fearful yet again. The indicator currently shows 34 points out of 100 after the most recent update. , the leading cryptocurrency witnessed an extremely impressive sentiment jump last month.
However, this time around, Bitcoin went from the highest bullish sentiment in 16 months to fear in a similarly The cryptocurrency has been taking a beating over the past few days due to speculation that the U.S. might be on the verge of another recession following the release of the most recent economic data. Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets.
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