According to BlockBeats, 10x Research has reported that Bitcoin is currently severely oversold. Many opinion leaders are advising their followers to buy on the dip, while altcoins appear to be more stable. The Greed and Fear Index of 10x Research is nearing its historical low, indicating that the market may be close to its phase bottom.
10x Research, a leading cryptocurrency research firm, made these observations on June 25th. The firm's Greed and Fear Index is a tool used to measure the general sentiment in the cryptocurrency market. A low score on this index suggests that investors are fearful, which often coincides with market bottoms.
The firm's advice to buy on the dip is a common strategy among investors during market downturns. This strategy involves purchasing an asset after it has dropped in price, with the expectation that it will eventually rebound. The stability of altcoins, as observed by 10x Research, could be a sign that the market is nearing a bottom and could soon rebound.
However, it's important to note that these are just observations and predictions made by 10x Research. The cryptocurrency market is highly volatile and unpredictable, and investors should always do their own research and consider their risk tolerance before making investment decisions.