Home  »  Cryptocurrency   »   Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

By Orbit Brain

Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

Bitcoin Fear And Greed Index Has Dipped To Lows Not Seen Since July

Following the Bitcoin crash to $42ok, the worry and greed index has declined to excessive worry values not seen since July of final 12 months.

Bitcoin Worry And Greed Index Factors At “Excessive Worry”

As identified by an analyst in a CryptoQuant publish, the BTC worry and greed index has dropped to very low values.

The “worry and greed index” is a crypto indicator that measures the final sentiment amongst buyers available in the market.

The index makes use of numbers to signify the sentiment on a numeric scale that goes from zero to hundred. Values of the indicator above fifty imply that the present holder sentiment is that of greed.

And values under 50 suggest that the market is fearful in the meanwhile. Index values under 25 and people above 75 fall into the “excessive” class, signifying excessive worry and excessive greed, respectively.

The indicator often stays within the greed zone throughout bull runs. Excessive greed values have traditionally signaled {that a} correction within the worth of Bitcoin could also be close to, and a high might type.

However, values of worry could also be there throughout bearish traits, and excessive worry would possibly suggest {that a} backside might quickly type.

Associated Studying | Bitcoin Whales Contribute 90% Of Cash Influx of Exchanges, How Can We Observe and Make Earnings?

Now, here’s a chart that exhibits the development within the Bitcoin worry and greed index over the previous 12 months:

The crypto worry and greed index appears to have sunk to excessive worry values | Supply: CryptoQuant

As you’ll be able to see within the above graph, the indicator has now dipped to a worth of 15. That is the bottom the metric has gone since July of the earlier 12 months.

Associated Studying | Begin Of Bear Interval? Present Bitcoin Pattern Appears to be like Comparable To June

By the way, the day in July when such low values occurred was additionally round when the Bitcoin worth bottomed out. Nonetheless, the quant within the publish notes that this doesn’t essentially imply that the present worth has hit a backside as nicely.

Following the Might crash, the months of Might and June additionally noticed related excessive worry sentiments a number of instances.

So, it’s moderately potential that the present low values of the indicator could persist for some time, identical to again then, earlier than the worth finds its means again up.

BTC Value

On the time of writing, Bitcoin’s worth floats round $42.4k, down 12% within the final seven days. Over the previous month, the crypto has misplaced 16% in worth.

The under chart exhibits the development within the worth of BTC over the past 5 days.

After the crash all the way down to $42ok just a few days again, BTC's worth additional plunged all the way down to $41ok yesterday | Supply: BTCUSD on TradingView
Featured picture from Unsplash.com, charts from TradingView.com, CryptoQuant.com

Orbit Brain is the senior science writer and technology expert. Our aim provides the best information about technology and web development designing SEO graphics designing video animation tutorials and how to use software easy ways.
and much more. Like Best Service Latest Technology, Information Technology, Personal Tech Blogs, Technology Blog Topics, Technology Blogs For Students, Futurism Blog.

Latest Posts