The Fear And Greed Index Says The Bitcoin Market Is Still Greedy
As per the latest weekly report from , the fear and greed index has been pointing towards greed since almost a month now.The “fear and greed index” is an indicator that shows what the general sentiment is among investors in the Bitcoin market.
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The Bitcoin market seems to be greedy at the moment | Source:As the above meter shows, current value of the indicator is 73, meaning the market shares a greedy sentiment right now.
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Values of last week and last month are also given below the meter, and looks like the sentiment has been greedy during those periods as well. Now, below is a chart that shows the change in the sentiment of the Bitcoin market over the last year.The BTC market has been greedy for almost a month | Source:
The indicator’s value has slightly declined recently after hitting extreme greed values last week and the reason for that is the latest dip in Bitcoin’s price.
But the indicator still points at greed nonetheless. The index is calculated by taking various components into account and volatility is one of them. Since BTC hasn’t shown that much volatility in the past week, the fear and greed values remain high despite the price of the crypto decreasing.Here is a chart that shows this trend in Bitcoin’s price over the last five days:
BTC shows some recovery in the past couple of weeks | Source:
Featured image from Unsplash.com, charts from TradingView.com, Arcane Research