- Crypto market plunges to extreme fear sentiment.
- Seasoned analysts see this as a highly bullish sign and a chance to make high profits.
- Altcoins like JASMY continue to form bullish indicators on their price charts.
The $110 billion wiped out of the crypto market has led to a major dip in the Bitcoin Fear & greed Index marking an entry to the Extreme Fear sentiment with a score of 25. Similarly, the CoinMarketCap Crypto Fear & Greed Index marks a score of 29 and a ‘Fear’ sentiment. Despite this, many altcoins still show bullish signs.
Crypto Market Plunges to Extreme Fear Sentiment
As we can see from the post above, analysts seem to be pleased to see the market sentiment dip to the ‘Extreme Fear’ phase. As noted in previous bull markets and every bull cycle, seasoned analysts have always said that gains are made in fear markets and greed markets are when profits should be taken.
In the midst of a bull market now, a dip is often seen as an opportunity to accumulate for those who can and a time for holders to continue to hold unshakingly. This often leads to glorious gains when the market moves to greed and extreme greed market phases. Currently, despite the massive dip, seasoned analysts believe there are still many opportunities to reap profits from Bitcoin and altcoins that are set to rally in the coming days.
JASMY Shows Bullish Indicators
One such asset shows strong bullish indicators hinting at a major price pump ahead. This is the altcoin JasmyCoin (JASMY) known as the Bitcoin of Japan. As we can see from the post above, the JASMY price chart sees a huge regular bullish divergence formation. This means a bullish response for bulls to regain control and lead to a JASMY price pump is very much a possibility.