Bitcoin sentiment in extreme fear since December 6, 2021. The Fear and Greed index of the BTC has turned upside down in a month as it was at 8 month’s high of 84/100 and now it is hovering around 16.
A lot of different types of indicators are used to analyze the crypto market. Fear and Greed index is such a complex indicator that keeps track of volatility, trading volume, market dominance, and Google Trends. This indicator also shows that whether the audience is pessimistic or optimistic about the market. Bitcoin sentiment in extreme fear since last week as the coin dropped below the $50k price mark.
Bitcoin sentiment in extreme fear:
In the last five months, it was the first time when the Fear and Greed indicator of Bitcoin touched 16/100 mark on December 6. This bounced a little bit but it dropped to its critical level. The experts are saying that this index dropped to this low level because the coin failed to hold the $50k price level. Bitcoin sentiment is in extreme fear but hopefully, it will recover soon because it doesn’t then the result can be bad for the coin.
The last time the Bitcoin “Fear and Greed” index was so weak was when the crypto king traded below $30,000 in late July 2021, after the dramatic dropdown of Q2, 2021. The market cap of the BTC is also about to touch the seven monthly low.
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