RATE Group | Bitcoin Sentiment Indicator Prints “Extreme Fear” in Potential Sign of Bottom
69790
post-template-default,single,single-post,postid-69790,single-format-standard,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Bitcoin Sentiment Indicator Prints “Extreme Fear” in Potential Sign of Bottom

25 Nov Bitcoin Sentiment Indicator Prints “Extreme Fear” in Potential Sign of Bottom

Posted at 00:50h in Cryptocurrency News by

[ad_1]

Bitcoin’s (BTC) recent plunge under $8,000 to tap $6,800 has done numbers of the sentiment in the cryptocurrency industry. As a popular trader, Crypto Michael, noted in a recent tweet, the Bitcoin Fear & Greed Index recently printed a 23, which is on the “extreme fear” side of the oscillating indicator.

An aside: While this reading may seem entirely arbitrary, especially considering the bullish momentum Bitcoin has experienced in the first half of 2019, the index’s readings are backed by data. The website that hosts the index claims it analyses a fair mix of volatility, market momentum and volume, social media trends, surveys, dominance, and Google Trends to get the gist of how cryptocurrency investors are faring.

The reading of 23, and thus “extreme fear,” are relevant because many believe that emotions drive markets, especially the cryptocurrency market. As…

[ad_2]

Source link

Tags:
, , , , , , , ,