Bitcoin Retains $7K as 'Extreme Fear' Clashes With Parabolic Forecast

Bitcoin held on to $7,000 support on Dec. 20 as a major sentiment indicator revealed investors were still highly panicked by current price action.

Bitcoin surpasses 2018's "Extreme fear".

At press time, Bitcoin had stayed out of the $6,000 range consistently since it broke away from lower levels late on Wednesday.

In a comparatively rare tweet on Friday, the social media stalwart suggested Bitcoin was ready to repeat its bull run from earlier in 2019.

Bitcoin's Fear & Greed Index, a tool measuring investor "Emotions and sentiment" as a score out of 100, remained at 23 - classified as "Extreme fear."

For comparison, at around Bitcoin's 2018 lows of $3,100, the Index reading was actually higher than at present - 24 in December.

Traditionally, Fear & Greed has predicted price upticks, which have followed many of the dips to "Extreme fear" on its indicator.

Altcoins once again copied Bitcoin as markets steadied, stemming significant losses seen over previous days.

Others performed better, with Bitcoin SV and VeChain both gaining around 6%. Ether, the largest altcoin, stayed static at around $128 over the past 24 hours.

The overall cryptocurrency market cap was $191.1 billion, with Bitcoin's share a touch lower at 68.2%.Keep track of top crypto markets in real time here.