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Hello Ox'ers. Bitcoin continues to struggle, but, shows some resistance to psychological levels at 40K USD/BTC. The Bitcoin Fear and Greed Index rose, perhaps concordantly with the first green daily candle at the close over severeal recent days. At 8:00 PM New York City time on Saturday, January 8th, the infamous Twitter account Bitcoin Fear and Greed Index @BitcoinFear posted that the index score was 23. Perhaps surprisingly, that is an increase of 13 points from the same time 24 hours ago and an increase of 5 points from about 48 hours ago. The index remains at the level of "extreme fear" since the same time yesterday. Since 24 hours ago, the price has changed from $41,789 USD/BTC (at the time index = 10 was posted yesterday) to today's price when the index = 23 was published of $41,473 USD/BTC. As the price has not changed much, or actually gone down, apparently other metrics (like sentiment) have had a greater impact on the index increase.
Have we hit bottom? For everyone's sake hope so! Thanks for stopping by and I hope this post finds you in good spirits!
