Crypto Fear and Greed Index Shows ‘Extreme Fear’ and Unstable Sentiment Persists – Market Update Bitcoin News

Bitcoin sentiment, derived from the Crypto Fear and Greed Index (CFGI), has been in the “extremely fearful” range for several weeks. While Bitcoin made some gains on Monday, the CFGI remained in the “extremely fearful” position, with a ranking score of 16 out of 100.

Crypto Fear and Greed Index Still in ‘Extreme Fear’

About 45 days ago, Crypto Fear and Greed Index (CFGI) Hit the “extreme fear” range 22 points. On April 15, the 24-hour Bitcoin price range was between $39,823.77 and $40,709.11 per unit. The market has fallen further since then, and on May 12, bitcoin It hit a low of $25,401, down from last summer’s July low.if someone buys bitcoin Today, May 12, they will gain more than 24% against the dollar.

Crypto Fear and Greed Index Shows 'Extreme Fear' and Unsettled Emotions Persist

Despite the gains over the past two weeks, CFGI is still in “extreme fear” territory, ranking even lower than April 15. At the time of writing, the CFGI rank score is 16 out of 100, but that doesn’t necessarily mean the market will remain depressed. CFGI, hosted on, measures market sentiment, and the site states that there are two simple assumptions:

  • extreme fear May indicate that investors are overly concerned. This could be a buying opportunity.
  • when investors get too greedywhich means the market needs to correct.

However, extreme fear could also lead to more capitulation, and so-called buying opportunities could be much lower.Or it can also be assumed that the current time frame is a tiered buying opportunity and people are satisfied with the purchase bitcoin On the way down the mountain. The simple assumptions of CFGI are just that, because they may be accepted as truth, but they may not ultimately be realized.

Likewise, if “investors become too greedy,” as CFGI puts it, that doesn’t necessarily mean the crypto market will correct.This means that if someone takes such advice, they may sell bitcoin below what they can achieve by waiting. Then again, there’s always the old investing advice that there’s nothing wrong with profiting along the way.

Crypto market sentiment has been in “extreme fear” territory for over a month, at least according to CFGI. Yesterday, May 30, the index received a ranking score of 10, which means the latest CFGI score of 16 is an improvement.Google Trends Metrics Querying ‘Bitcoin’ Shows Interest Since Recent Rise land fiasco.

Interestingly, Global Google Trends (GT) data Shows that interest in Bitcoin had been lingering for a while before Terra LUNA and UST had an impact. But that week (May 8-14), GT data showed that the search term “bitcoin” surged to its highest GT score (100) since the second week of June 2021. However, in the week following the Terra LUNA and UST market carnage, the GT data score for the term “Bitcoin” dropped by 45%.

tags in this story

analyze, April 15, bitcoin, Bitcoin (BTC), bitcoin, CFGI, cryptocurrency, Crypto Fear and Greed Index, crypto market, data, extreme fear, fear, Google Trends, greedy, greedy, GT data, market interest, market sentiment, May 12, Earth (Moon)

What do you think of the Crypto Fear and Greed Index scoring 16 and staying in the “extremely fearful” zone? Let us know what you think about this topic in the comments section below.

Jamie Redman

Jamie Redman is Head of News at News and a fintech reporter based in Florida. Redman has been an active member of the cryptocurrency community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles for News on the disruptive protocols emerging today.

Image Source: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for reference only. It is not a direct offer or an invitation to buy or sell, nor is it a recommendation or endorsement of any product, service or company. Bitcoin Network Does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned herein.

Source link