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

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

Cryptocurrency market daily overview. Source: Coin360

Bitcoin surpasses 2018’s “extreme fear”

Data from Coin360 and Cointelegraph Markets showed BTC/USD repeatedly test the $7,000 barrier on Friday, each time bouncing off to linger around $7,100. 

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

Bitcoin 1-day price chart. Source: Coin360

Now, traders were noticeably split over the cryptocurrency’s short-term prospects — some predicted a return to lower levels seen earlier in the week, while others forecast bullish behavior.

Leading the bulls was the well-known but abstemious Twitter account Parabolic Trav. In a comparatively rare tweet on Friday, the social media stalwart suggested Bitcoin was ready to repeat its bull run from earlier in…