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18 days ago, on March 28, the Cryptocurrency Fear and Greed Index hit the “greed” mark, scoring 60 for the first time in four months. Since that day, bitcoin has lost more than $7,500 in dollar terms and reached a low of $39,200 per unit on April 11. As a result of this decline, the Cryptocurrency Fear and Greed Index returned to its “extreme fear” position with a score of 22.
The cryptocurrency sentiment index dropped to the “extreme fear” position, with the dollar value of bitcoin dropping 35.7% since the beginning of the year
As of Friday, April 15, 2022, the price of bitcoin (BTC) is still consolidating, having hit a low four days ago. BTC‘s 24-hour range on Friday was between $39,823.77 and $40,709.11 per unit, with global trading volume of about $22 billion.
Over the past week, bitcoin has fallen 7.2%, and bi-weekly statistics show that the leading crypto-asset has lost about 11.3%. Since the beginning of the year, bitcoin’s price against the U.S. dollar is 35.7% lower than it was a year ago.
Although bitcoin’s market capitalization on Friday is about $767 billion, it represents 38.91% of the current $1.97 trillion crypto economy. Today, the top trading pair with BTC is tether (USDT) with 60.88% of all trading worldwide. Tether is followed by USD (12.27%), BUSD (7.88%), JPY (4.09%) and KRW (3.28%). The
April 15 Cryptocurrency Fear and Greed Index has reached an “extreme fear” position and is currently at 22. Yesterday it was 28, which means “fear,” and a week earlier the index was 37, which also means “fear.”
The Cryptocurrency Fear and Greed Index uses market sentiment and reduces it to a simple number and description. Sentiment indices are also used in traditional financial markets. Financial companies, universities, and media outlets such as , CNN, the University of Michigan, Nasdaq’s ISEE Index, and others, use these sentiment indices to determine how the market feels.
Bitcoin is now the ninth largest global asset in terms of market capitalization, above Berkshire Hathaway’s market valuation ($760.36B) and below Tesla’s capitalization ($1,018T).
The last time the Cryptocurrency Fear and Greed Index reached the 22nd mark was March 22, or 24 days ago. The Cryptocurrency Fear and Greed Index, posted on alternative.me, explains that extreme fear and greed can have two values.
“Extreme fear” can be a sign that investors are too worried. It can be a buying opportunity,” the site explains. “When investors get too ‘greedy,’ it means the market is expecting a correction.”
Image Credits: Shutterstock, Pixabay, Wiki Commons
