Lin Chen: Bitcoin Market May Have Hit Bottom
CryptoNewsTerminal Staff01 Sep, 2024
Lin Chen: Bitcoin Market May Have Hit Bottom
Lin Chen, Deribit's head of business development for Asia, recently stated that "In the past month, the Fear and Greed Index was in the fear zone for 23 days, accounting for 76.67% of the total." He added that "Many short-term investors exited the market when the price of BTC fell below $58,000 on the previous day (local time)." This suggests that the market may be finding a bottom.
