Crypto Fear And Greed Index Continues To Point At “Extreme Fear”
As per the latest weekly report from , the current streak of extreme fear, which happens to be the longest ever, couldn’t be broken this week.The “fear and greed index” is an indicator that measures the general investor sentiment in the crypto market.
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Values of more than 75 and less than 25 towards each end of the range indicate sentiments of “extreme greed” and “extreme fear,” respectively.
The value of the indicator seems to have slumped back down after a rise | Source:As you can see in the above graph, the crypto fear and greed had a value of 16 two days ago, when the report came out. According to , the value is 18 today, slightly more than that.
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However, this improvement in the sentiment didn’t last too long and the index once again dropped back down, before the longest extreme fear run in the history of the crypto market could be broken. Though, the report notes that the index may be overstating the fearfulness due to the special conditions right now. The fear and greed index’s value depends on two major factors, the volatility and the trading volume. Binance removing trading fees from its platform has certainly influenced these two metric’s values and hence the index as well. For the crypto market to escape from this stretch of extreme fear, positive news and price action will be needed to make investors more optimistic.BTC Price
At the time of writing, Bitcoin’s price floats around $19.7k, down 3% in the past week.
Looks like the value of the crypto has declined over the last few days | Source:
Featured image from Pierre Borthiry on Unsplash.com, charts from TradingView.com, Arcane Research