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When Greed? Bitcoin Market Crushed Under One Full Month Of Fear

When Greed? Bitcoin Market Crushed Under One Full Month Of Fear

Knowledge exhibits the Bitcoin market has been caught in a state of utmost concern for the reason that fifth of Could, which means this run of backside sentiment has gone on for greater than a full month now.

Bitcoin Concern And Greed Index Continues To Level At An Extraordinarily Fearful Market

In line with the most recent weekly report from Arcane Research, the crypto market is presently going via its longest run of utmost concern for the reason that COVID crash again in 2020.

The “concern and greed index” is an indicator that tells us in regards to the basic investor sentiment within the Bitcoin and wider crypto market.

The metric makes use of a numeric scale that goes from one to hundred for displaying this sentiment. When the worth of the index is lower than fifty, it means traders are fearful in the intervening time.

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Alternatively, values of the indicator above the edge suggest that traders presently share a sentiment of greed.

Values in the direction of the tip of the vary of under 25 and above 75 point out sentiments of utmost concern and excessive greed, respectively.

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

Bitcoin Fear And Greed Index

The worth of the metric appears to have been very low lately | Supply: Arcane Research's The Weekly Update - Week 22, 2022

As you may see within the above graph, the Bitcoin concern and greed index is displaying a worth of 15 proper now, suggesting that the final sentiment is that of utmost concern.

These low values of the metric have now been there for greater than a month now. Such an extended streak final occurred following the COVID crash two years in the past. Then, the run lasted for 48 consecutive days earlier than the sentiment noticed any enchancment.

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Traditionally, bottoms have tended to kind during times of utmost concern, whereas tops have occurred throughout excessive greed.

Due to this, some traders consider the previous intervals present best shopping for alternatives for Bitcoin, whereas the latter could possibly be becoming promoting factors.

The buying and selling method that follows this concept is known as contrarian investing. Warren Buffet’s well-known quote encapsulates it finest:

Be fearful when others are grasping, and grasping when others are fearful.

If this philosophy is something to go by, then the present sentiment could imply now could possibly be the time to purchase Bitcoin.

For the time being, it’s unclear how lengthy this streak of utmost concern will final. It could possibly be as lengthy or longer than the final one, or the sentiment could quickly see an uplift.

BTC Value

On the time of writing, Bitcoin’s worth floats round $30.4k, down 3% previously week.

Bitcoin Price Chart

Seems like the worth of BTC has jumped again above $30k | Supply: BTCUSD on TradingView
Featured picture from Unsplash.com, charts from TradngView.com, Arcane Analysis

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