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Although BTC fell from $ 13,837.70 to $ 12,932.25 over the last day, sentiment among cryptocurrency investors remains positive. Bitcoin is still perceived as one of the best hedges against inflation - moreover, this advantage is increasingly appreciated by institutional investors.
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Bitcoin's price remains high
Although the BTC rate has fallen by 3.3% in the last 24 hours, it is still in the black in the 7-day range. Currently, this cryptocurrency trades around $ 13,268 per coin.
Yesterday's Bitcoin session opened at $ 13,654.21, and the closing was at $ 13,271.29. So it was a 2.8% change - a loss of $ 382.93.
Despite the sudden downward movement of the chart, optimism among users of the oldest cryptocurrency continues. According to the anxiety and greed index, they are still greedy for BTC. However, some believe that rising FOMO - in this case the fear of missing an opportunity to buy Bitcoin when its price is rising - could negatively affect the market, leading to 'overheated growth'.
source: alternative.me
This cryptocurrency is still perceived as one of the best assets to protect funds against inflation. It is also positively perceived by more and more institutional investors.
What about altcoins?
After Bitcoin's price weakened significantly, many other cryptocurrencies also suffered. However, losses on the charts of top altcoins in most cases do not exceed 5%.
The TOP 20 CMC projects that did the worst in the last 24 hours include Crypto.com Coin (-7.46%), Monero (-5.02%) and Stellar (-4.24%). The remaining cryptocurrencies suffered a depreciation of less than 4%.
