2 years ago
Data shows the Bitcoin fearfulness and greed scale has continued to show debased values for the 3rd consecutive week arsenic the marketplace remains fearful.
Bitcoin Fear And Greed Index Currently Points At “Fear”
According to the latest play study from Arcane Research, the BTC marketplace has present remained fearful for the 3rd consecutive week.
The “fear and greed index” is an indicator that tells america what the wide sentiment among investors successful the Bitcoin marketplace presently is.
The metric uses a numeric standard that runs from 1 to 100 for representing this sentiment. All values supra 50 signify that the marketplace is greedy close now
On the different hand, indicator values beneath the cutoff amusement that the marketplace sentiment is that of fearfulness astatine the moment.
End values of supra 75 and beneath 25 correspond capitalist sentiments of utmost greed and utmost fear, respectively.
Historically, tops person tended to signifier during periods of utmost greed, portion bottoms person formed during extreme fear.
Because of this, immoderate investors judge that it’s champion to bargain during the former, portion the second periods are champion for selling.
Related Reading | Glassnode Data Shows A Bullish Bitcoin Crossover Has Recently Occurred
Contrarian investing is simply a trading method that uses this idea. This celebrated punctuation from Warren Buffet encapsulates the philosophy: “Be fearful erstwhile others are greedy, and greedy erstwhile others are fearful.”
Now, present is simply a illustration that shows the inclination successful the Bitcoin fearfulness and greed scale implicit the past year:
As you tin spot successful the supra graph, the Bitcoin fearfulness and greed scale is presently showing a worth of 27, corresponding to a sentiment of fear.
This worth is close connected the borderline of utmost fear, and the marketplace has stayed astir this worth for the past fewer weeks. During that period, the indicator’s worth has besides had immoderate dips to utmost fear.
Related Reading | Bitcoin Bearish Signal: 600-Day MA Starts To Break Down
The crushed down this inclination whitethorn beryllium the information that BTC has been stuck successful consolidation for a portion now, showing nary existent movement.
The study suggests that investors look to beryllium anxiously waiting for Bitcoin to marque a determination earlier they instrumentality immoderate action.
BTC Price
At the clip of writing, Bitcoin’s price floats astir $39k, down 7% successful the past week. Over the past month, the crypto has mislaid 12% successful value.
The beneath illustration shows the inclination successful the terms of the coin implicit the past 5 days.
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