Weekly crypto sentiment brain-powered by the most authoritative experts from the trading network.
The previous week’s news background was extremely negative: first, the data on a hundred thousand miners shutting down their operations, then the U.S. Securities and Exchange Commission (SEC) preference to prolong the review timeframe for some of the submitted exchange-traded fund (ETF) proposals. And the overall buzz about recent free fall of bitcoin and predictions of its future was quite negative as well. Let’s recall what has happened with bitcoin during this week:
- The week started with becoming regular discussions and prognosis on how low may bitcoin’s price go. The current popular bet is $2,950 range.
- Later on, greedy for bitcoins terrorists invaded the media. Millions of bomb threats emails were received by people from all around the world (reportedly in U.S., Canada, New Zealand). The sender requested from each recipient $20,000 worth of bitcoin to ensure that the bomb would not pop. Authorities are investigating the case, however, for now, no explosives were detected.
- The end of the week, Coinbase, the largest crypto exchange in the United States, announced that its users are now allowed to perform free cash withdrawals to PayPal.
- Overall sentiment based on all ideas published on TradingView within the course of the last seven days was as follows: 54,2% of traders on the platform were bullish, and 45,8% were bearish. 33,3% bullish, 66,7% bearish is the ratio among the top 10 Bitcoin traders. Huge drop in positivity compared to the previous week when 78,9% of top traders were bullish.
- TradingView user gmgame shared one of the most popular bitcoin trading ideas of the week. His map of Bitcoin bear market is surely a piece of art. One coin to rule them all… And its only option is to head south, getting dangerously close to the dreaded Reklands, home of the infamous Lord Rekt. To have an idea about the journey in the bearland check out the chart below or jump in here for more details.