The last 24 hours were very busy for bitcoin. The coin showed the dynamics in the style of its best times. By Wednesday morning, the growth was about $1750, hoping for $18,300, but then there was a correction. It should be noted that the decline in value occurs with the growth of trading volume. Although even after the fall to $17 500, the coin is still more expensive than yesterday, it is quite possible that not all the reduction potential has been realized yet.
The Greed and Fear Index for Bitcoin and the largest Crypt Currency has jumped 5 points in a day to 91 and remains in the "extreme greed" mode, which indicates a high correction potential.
After such rapid growth, it would be a really good scenario for Bitcoin to roll back to past resistance levels, turning them into confident levels of support, calming overbought technical indicators, the consolidation process and already grow with new strength. Against the backdrop of such high price turbulence, the Bitcoin Domination Index grew by 1.5% overnight. The total capitalization of the crypt market exceeded $500 billion, driven mainly by the growth of bitcoin quotes. The reversal to growth during the day opens the way to $20,000, but it is important to remember that the potential for profit taking at these levels is noticeably higher.
Yes, bu BTC is PoW, all that is speculation, I prefer invest in ALGO