It was also reported that the value of other cryptocurrencies such as Ether, EOS, XRP, and Bitcoin SV decreased in the previous day.
Ether (ETH) is down almost 6% in the past 24 hours, while EOS, XRP and Bitcoin SV (BSV) saw heavier losses with -9.13%, 7.83% and 11.93%, respectively. Tezos (XTZ) is down 5.8% and Tone (TRX) tumbled by almost 10%.
However, it was noted that Chainlink is one currency that is performing better than others so far in 2020 as its price also fell but recovered and now stands at 6 percent.
Cointelegraph Markets contributor filbfilb noted that the $9,850 level of Bitcoin needs to be reclaimed so that it will not decline more to the $9,400-$9,500 and $8,800 support areas.
On Feb. 15, the Crypto Fear & Greed Index posted a reading of 64, which meant that the crypto market became greedy and unrealistic with its expectations.
As of writing, the fear and greed index fell to a neutral level of 49.