Bitcoin's graph seemed consistent and strong to reach 28,000 USD.
The reality was different. The selling pressure was much greater and the value of the fundamentals had more weight, thus evidencing that the market is not yet ready to reach higher prices in the price, since the fear of the possible sale of the Bitcoins that will be returned to the creditors of Mt. Gox and the continuous declarations of representatives of the big financial entities, were shown as an active force on the part of the buyers to act with suspicion during what was shown as a clear upward trend in July and part of August.
After five continuous weeks with the price of Bitcoin rising, leading it to reach a ceiling of 25,200 USD at the beginning of the month, the last two weeks of August have not been the most positive for the cryptoactive, since it fell again below 20,000 USD and just yesterday it recovered that level without much strength to support it as selling pressure seems to be dominating the market.
Investors still don't have the confidence to believe that the BTC downtrend is over, considering that the price may touch the $17,000 zone or even lower again, they believe they can buy better buy prices.
It is worth noting a certain variation in the market sentiment of Bitcoin shown by the Bitcoin Fear and Greed Index, which during the first two weeks of the month was shown at the Neutral level and today is 27% in the fear zone.
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