Crypto Fear And Greed Index Continues To Point At “Extreme Fear”
As per the latest weekly report from , investors in the cryptocurrency sector have remained extremely fearful since late August.The “fear and greed index” is an indicator that tells us about the current sentiment among participants in the crypto market.
At values towards either end of the range, that is those above 75 and below 25, occur mentalities of “extreme greed” and “extreme fear.”
Now, here is a chart that shows the trend in the crypto fear and greed index over the last year.The value of the metric seems to have not changed much in recent days | Source:As you can see in the above graph, the crypto fear and greed index has a value of 20 at the moment, implying the market is extremely fearful. This is a continuation of an extreme fear streak that started more than one month ago, back during late August.
Looks like the Bitcoin volatility has plunged down in the past week | Source:The report notes that the crypto market investors having such a rock-bottom sentiment while the BTC volatility has also been low suggests there is an innate fear among the participants that the worst of the bear market hasn’t passed over yet.
BTC Price
At the time of writing, Bitcoin’s price floats around $20k, up 5% in the past week. Over the last month, the crypto has gained 1% in value.
The below chart shows the trend in the price of the coin over the past five days.The value of the crypto seems to have shot up over the last couple of days | Source:
Featured image from Rudi De Meyer on Unsplash.com, charts from TradingView.com, Arcane Research