{"id":404707,"date":"2019-11-18T17:00:10","date_gmt":"2019-11-18T17:00:10","guid":{"rendered":"https:\/\/ktsl888.com\/?p=404707"},"modified":"2024-06-11T13:34:14","modified_gmt":"2024-06-11T13:34:14","slug":"crypto-market-fear-index-suggests-bitcoin-price-has-further-to-fall","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-market-fear-index-suggests-bitcoin-price-has-further-to-fall\/","title":{"rendered":"Crypto Market Fear Index Suggests Bitcoin Price Has Further To Fall"},"content":{"rendered":"

Bitcoin price<\/a> is once again in free-fall mode after the crypto asset set a record for its third-largest gain in a 24-hour period on the heels of news that China would support blockchain technologies like what Bitcoin is built on.<\/p>\n

The bullish move erased any remaining fear left in the market, and revived bullish sentiment. But with sentiment still so positive, the first-ever cryptocurrency may need to experience more downside to bring sentiment to levels of extreme fear before a rebound is possible.<\/p>\n

Crypto Market Fear and Greed Index Tips Slightly In Favor of Fear<\/h2>\n
Markets are cyclical, and speculative markets like Bitcoin<\/a> and other cryptocurrencies are driven in large part by greed and fear. It\u2019s led to the development of a market sentiment index that assigns a number score rating where the market currently is in terms of emotional and mental state.<\/p>\n
Related Reading | Bitcoin Market Cycle: Is This Complacency, Or A New Hope?<\/a><\/strong><\/em><\/p>\n
During powerful rallies, investors become irrationally exuberant, greedy, and hopeful, further driving up the value of assets like Bitcoin as speculation and hype run wild. These signs usually signal a top is in or close. But on the way down, that greed turns into anger, depression, and fear, and typically signals that a local bottom is close and a rebound is near.<\/p>\n
According to that fear and greed index, the market is currently at a 38 out of a possible 100 and has just tipped the scales to favor fear after first being bullish and then spending a period of time at neutral.<\/p>\n
\n
#Bitcoin<\/a> has been slowly shedding valuation but no major volatility as of yet<\/p>\n
Similarly, the Index has been slowly tilting more & more towards Fear<\/p>\n
Extreme fear precedes financial opportunity but the Index suggests that the market still has some fear to experience #Crypto<\/a> pic.twitter.com\/PBQB3bzTwm<\/a><\/p>\n
— Rekt Capital (@rektcapital) November 18, 2019<\/a><\/p><\/blockquote>\n