BitRss.com latest World Crypto News

Search and discover the latest Cryptocurrency updated Stories in Categories

24-7 World Cryptocurrency News about Blockchain, Technology and much more, only from Top Leading Sources

Bitcoin Fear and Greed Index Back to Greed for the First Time in 12 Weeks

Bitcoin Fear and Greed Index Back to Greed for the First Time in 12 Weeks
The Bitcoin fear and greed index, which tracks the community’s general sentiment on the primary cryptocurrency, has gone into a state of greed for the first time in nearly three months. This comes as BTC’s price has gone on a tear in the past few weeks, adding more than $10,000.
Greed Among Bitcoin Investors
The fear and greed index is a popular metric that follows several aspects within the cryptocurrency community to determine the general feelings towards BTC and other digital assets. More precisely, those factors include surveys, social media comments, volatility, and volume.
The end results vary from 0 – meaning extreme fear to 100 – extreme greed. As the team behind the index explained it – the cryptocurrency market is very emotional as people “tend to get greedy when it is rising which results in FOMO” or they “often sell their coins in irrational reaction when seeing red numbers.”
With bitcoin, the metric was deep in a state of fear and even extreme fear for months. In fact, it was down there since May 12th when the cryptocurrency’s price began its freefall from nearly $60,000.
Now, though, the latest developments in the field have turned the crowd’s sentiment. As a result, the index has gone to 60 (greed) for the first time in nearly three months after plummeting to 10 (extreme fear) several times.
Bitcoin Fear and Greed Index. Source: Alternative.me
Is Greed Good or Bad?
Apart from the factors mentioned above, the fear and greed index is perhaps most linked to the price of bitcoin. Consequently, getting out of the fear zone into greed now could be connected to the recent price surge.
After all, BTC dumped to a multi-month low of $29,000 less than two weeks ago – somewhat expectedly, the index went to 10 (extreme fear). While the community was expecting more of the same, the asset’s price went in the opposite direction, as it usually tends to do.
In a matter of days, it reclaimed $30,000, initiated another leg up, and even surpassed $40,000. As reported earlier, bitcoin went to a 10-week high of over $42,500.
As such, it’s worth having in mind that too much greed could be followed by corrections, just like price increases came in times of extreme fear.

BitRss.com shares this Contents always with License.

Thank you for Share!

   
Tumblr
LinkedIn
Reddit
VK

WhatsApp
Telegram

Cool to know huh? Read the full Article

Read the full Article:  ⭲ Bitcoin Fear and Greed Index Back to Greed for the First Time in 12 Weeks


Search about Crypto News


BITRSS | CRYPTOCURRENCY WORLD NEWS

The latest Top News, only from Leading exponents of BlockChain, Bitcoin and different Accredited Crypto Currency Sources.

Since 2015, our Mission was to Share, up-to-date, those News and Information we believe to represent in an Ethical and sincere manner the current Crypto Currencies World: everything you are looking for, in one place!

We have always tried to give priority to the News; for this reason we have designed BitRss.com simple and intuitive, usable by all Devices, fast and effective.


| LEARN MORE ABOUT |

Today Most Popular News