I was just looking at Bitcoin prices and the crypto market capitalization, and it's been a while since everything seems kind of "stable." It's quite strange because the crypto market is very volatile, so you'd expect big rises and falls one after the other, as is usual...
However, the feeling the market is giving off is one of total uncertainty. While it seems like things are good, there's also a feeling that things are bad... And it seems like it's not an isolated thing but something more general. What do you think?
I'll be much appreaciated if you Votes, Reblogs or give any Tips. Thanks and have good reading! 🍀
What's the Current Sentiment in the Crypto Market?
Analyzing the 3-month chart, it's clear that we are indeed in a much better moment for Bitcoin. Three months ago, we were in a terrible situation with large drops in BTC and several projects shutting down, among them some web3 games like Rumble Arcade and Fishing Frenzy, both from the Ronin Network and both with reasonable activity.
However, no project can survive if the market it's in continues to have a negative outlook, low liquidity, and no new users joining, and so one by one they sent the sad closure posts...
The thing is, on August 19th and 20th, this entire market without prospects received a large influx of liquidity, causing BTC to rise from 65K to almost 80k. Since then, the market has traded above 75k and since September 21st it has only been above 80k.
Almost 20k more in Bitcoin value, and that also means more liquidity overall, but you don't find any large, robust NFT game projects launching anymore. Even in a positive moment, there's a feeling that things are still "bad," and this uncertainty, to my surprise, is also reflected in the Fear & Greed Index.
This index, which shows market sentiment, also can't quite decide if it's in a bear or bull market, marking 42, which is very close to neutrality. Altcoins themselves are quite uncertain, with many already reversing their prices or maintaining values below what users expected.
It's worth remembering that there's the issue of inflation, and that this [inflation] falls and returns to the same level in dollar value; it should even be a little higher to compensate for the loss due to inflation. And this is a point that doesn't get much attention.
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