Bitcoin Cash

FOMO

First Bitcoin

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 <p>The <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market was on the cusp of clinching $1.1 trillion a day ago. However, at press time, the market was yet again characterized by weakness. On the daily timeframe, almost all <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets were trading in the red. The grayscale-induced rally pushed the total market cap and altcoins like XRP to their resistance ceiling [yellow]. However, they failed the retest and could not break past its ceiling. Bitcoin and Ethereum, on the other hand, did not even proceed towards the test zone, despite the rally.</p> 
 <p>At press time, most assets were trading below their 20, 50, and 100 EMAs, another bearish sign. An uptrend will only fructify for the assets in the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market when they manage to convert their downtrend resistance line into support.</p> 
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  <img decoding="async" width="1024" height="458" src="https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp" alt="" class="wp-image-109546" srcset="https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 1024w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 300w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 768w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 380w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 550w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 800w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 1160w, https://cdn.thebittimes.com/images/2023/08/30/540d8be2605ac4733becf192d2549e07.webp 1274w" sizes="(max-width: 1024px) 100vw, 1024px">
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   BTC/USDT, ETH/USDT, XRP/USDT, Crypto Total Market Cap by TradingView
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 <p><strong>Also Read: Bitcoin Derivatives Volume Rises to $1.4 Million</strong></p> 
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 <h3 class="wp-block-heading" id="h-should-crypto-investors-have-fomo">Should Crypto investors have FOMO?</h3> 
 <p>The recent rally was led by derivatives market volumes. The spot market did not play a significant role, making the short-term setup a trap. Thus, many analysts believe that the <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> market is bound to crash with the same intensity with which it rose on the heels of the Grayscale development.</p> 
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   <img decoding="async" src="https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp" alt="" class="wp-image-109523" style="width: 100%;height:308px" width="534" height="308" srcset="https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 1024w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 300w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 768w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 1536w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 380w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 550w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 800w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 1160w, https://cdn.thebittimes.com/images/2023/08/30/48ae9be7c148faf43127e7e192dc27a6.webp 1920w" sizes="(max-width: 534px) 100vw, 534px">
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    Source: Vecteezy
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 <p><strong>Also Read: Grayscale Investors Can Get Exposure to Bitcoin Cash At Merely $0.007</strong></p> 
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 <p>Even on a weekly basis, the state of affairs does not look encouraging. Pseudonymous analyst Rekt Capital pointed out that Bitcoin continues to experience resistance at the ”bull market” averages, specifically the 200-week MA orange and 21-week EMA green. Advising investors, the analyst posted on X [formerly Twitter],</p> 
 <p><strong>“If you FOMO on a green day. You won’t have enough ammo [ammunition] to FOMO on a red day. If you must FOMO, choose a red day.”</strong></p> 
 <p>Thus, the market crash could prove to be a boon for investors who failed to accumulate <a rel="dofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> assets during their previous lows from a long-term perspective.</p> 
 <p><strong>Also Read: Europe’s First Bitcoin ETF Faces ESG ‘Controversy’</strong></p> 
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<div class="cs-entry__tags">
 <ul>
  <li>crypto</li>
  <li>crypto crash</li>
  <li>crypto down</li>
  <li>crypto market crash</li>
 </ul>
</div> 
<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/why-is-crypto-crashing-down-today-tbt60931.html">https://thebittimes.com/why-is-crypto-crashing-down-today-tbt60931.html</a></p>

Why is Crypto Crashing Down Today?

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