VIX-Style Index for the Crypto Market to Hit All-Time Low as Bitcoin Sees New

The crypto request is still in the midst of a bear cycle that has seen numerous coins lose further than 50 percent of their value since the morning of 2019. Bitcoin( BTC) has been hit especially hard, dropping from$ 20,000 at the morning of January to$ 6,000 moment.

The VIX- style indicator for the crypto request hit all- time lows on Monday as BTC fell below$ 5,500 and ETH dropped below$ 500. The VIX is used as a deputy for stock request volatility because it tracks movements in S&P 500 volatility indicator.

In response to this downturn, dealers are dealing means that have risen mainly over the once six months, including altcoins like EOS( EOS), TRON( TRX), and NEO( NEO). This selling pressure could mean that cryptocurrencies are entering a short- term bear request or indeed an factual crash analogous to what happed with Ethereum in 2018.