Crypto Investor Greed Index Reaches Record Low
The index of greed and fear of cryptocurrency investors this Thursday reached 5 points and is in the zone of “extreme level of fear”.
This is the lowest value recorded in the entire history of the instrument, which was created in February 2018. The index takes into account metrics such as volatility, momentum, social media sentiment and trends..
In the explanation for the instrument, its creators indicate that “extreme fear” can indicate that investors are too worried, which in turn can be a good buying opportunity.
Bitcoin continues to trade around the $ 10,000 level today after a failed $ 11,000 breakout and a subsequent decline on Wednesday.
A number of analysts, meanwhile, continue to point to the possibility of falling to support at $ 9,000 or below. Others, on the other hand, wonder if the market will go in the direction that everyone is pointing to..
Although the index of greed and fear remains, rather, a conditionally emotional reflection of what is happening, the cryptocurrency segment knows other, no less controversial indicators that helped traders to successfully predict market movements. For example, it was previously noted that trading against the signals that CNBC shares with its viewers often brings positive results..
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