Market experts believe that the loss of bitcoin to the levels of $ 20 thousand may drop in the cryptocurrency market to new lows, as it may head towards levels around 13 thousand dollars and then drop below the levels of 10 thousand dollars, amid waves of selling. Accompanied by the panic of the market crash.

On the other hand, the consolidation of Bitcoin and Ethereum above the psychological support levels of 20 thousand and one thousand dollars gives the market more hope for a recovery, and gives signals of not capitulating the final bear market.

Although the cryptocurrency market continued to plunge into a state of extreme panic, the past hours witnessed another bounce on the same front, as the fear and greed index succeeded in recording relative increases.

The Crypto Fear&Greed Index data increased over the past hours on the back of Bitcoin and Ethereum as the index increased 3 notches from 6 to 9 levels.

According to the Fear and Greed Index, coinciding with Bitcoin dropping to its lowest level since December 2020 on Sunday, traders' sentiments plunged to their worst point since August 2019 in nearly 3 years.