• Bitcoin’s price dropped on Saturday, causing the majority of the crypto market to follow suit.
• Investors expect more downtrend for BTC with a 5.67% decline predicted by the end of March.
• The Crypto Fear & Greed Index is currently neutral but could easily turn negative due to low prices.
Bitcoin Price Plunges On Saturday
The crypto market was met with bearish trends when the largest cryptocurrency by market cap, Bitcoin, experienced a price drop on Saturday. The digital asset dragged most of the market down with it as investors expect more downtrend in its value even as March just started.
Negative Expectations for Bitcoin
Coinmarketcap’s Price Estimates feature collects votes from community members regarding the expected price of a digital asset going forward. For bitcoin, 11,000 votes were collected and the median price expectation was $21,084 – representing a 5.67% decline from current prices. This would mean that bitcoin will have to lose another $1,200 from its value in order to meet expectations by the end of March and plunge the crypto market further into bear territory.
Investor Sentiment Neutral But Can Turn Negative Easily
The Crypto Fear & Greed Index shows investors are still feeling very neutral when it comes to cryptocurrency markets right now but it can quickly turn negative if prices continue to remain low and cause fear among investors who want to get out before they incur losses.
Meme Coins Are Holding Strong
Amidst this bearish sentiment there are some meme coins that have seen green in contrast to all other cryptocurrencies which were affected by Bitcoin’s fall-off. BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner? Wild.io offers 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day!
The crypto market is still reeling from Bitcoin’s crash on Saturday and investors remain pessimistic about its future as they expect further declines throughout March and beyond if nothing changes soon in terms of sentiment or regulations surrounding cryptocurrencies worldwide. Some meme coins have managed to hold their own amidst this bearish trend while others struggle against it – only time will tell what direction we can expect this market to take in coming months!