Bitcoin Is Currently In The Longest Period Of “Extreme Fear” Ever
The price crash of Bitcoin (BTC) since dropping to $17,600 last month has passed, but the sentiment remains negative. Now, a classic crypto market mood gauge is showing how long and hard the average investor has suffered.
While the crypto market sentiment was already bleak before the start of 2022, the subsequent drop in Bitcoin and other cryptocurrencies has created ever more gloom.
This has now been quantified by the Crypto Fear & Greed Index, an index that considers multiple dimensions to create an overall score on market sentiment.
As of July 16, Fear & Greed has spent over 70 days at its lowest level – “Extreme Fear” – marking a new bearish record.
The index includes five states “Extreme Fear”, “Fear”, “Neutral”, “Greedy” and “Extreme Greed”. The last market sentiment was more upbeat than it is now was on May 5 – the day before Terra (LUNA) collapsed.
Commenting on the data, Philip Swift, creator of online chain analytics platform LookIntoBitcoin, noted that this period of “Extreme Fear” extends beyond those surrounding the 2018 Bitcoin bear market and the market crash in March 2020.
The year 2022, despite its bearish periods, is not without its ups and downs. The last time the Index was in the “Greed” or “Extreme Greed” zone – which tends to indicate an overheated market – was in March of this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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Harold
CoinCu News
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Bitcoin
Bitcoin Is Currently In The Longest Period Of “Extreme Fear” Ever
The price crash of Bitcoin (BTC) since dropping to $17,600 last month has passed, but the sentiment remains negative. Now, a classic crypto market mood gauge is showing how long and hard the average investor has suffered.
While the crypto market sentiment was already bleak before the start of 2022, the subsequent drop in Bitcoin and other cryptocurrencies has created ever more gloom.
This has now been quantified by the Crypto Fear & Greed Index, an index that considers multiple dimensions to create an overall score on market sentiment.
As of July 16, Fear & Greed has spent over 70 days at its lowest level – “Extreme Fear” – marking a new bearish record.
The index includes five states “Extreme Fear”, “Fear”, “Neutral”, “Greedy” and “Extreme Greed”. The last market sentiment was more upbeat than it is now was on May 5 – the day before Terra (LUNA) collapsed.
Commenting on the data, Philip Swift, creator of online chain analytics platform LookIntoBitcoin, noted that this period of “Extreme Fear” extends beyond those surrounding the 2018 Bitcoin bear market and the market crash in March 2020.
The year 2022, despite its bearish periods, is not without its ups and downs. The last time the Index was in the “Greed” or “Extreme Greed” zone – which tends to indicate an overheated market – was in March of this year.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Join CoinCu Telegram to keep track of news: https://t.me/coincunews
Follow CoinCu Youtube Channel | Follow CoinCu Facebook page
Harold
CoinCu News
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