Despite Decline In Bitcoin Price, Market Remains Greedy

Data shows that the crypto market has continued to remain greedy, despite the recent downtrend in Bitcoin’s price. The Fear And Greed Index Says The Bitcoin Market Is Still Greedy As per the latest weekly report from Arcane Research, the fear and greed index has been pointing towards greed since almost a month now. The “fear and greed index” is an indicator that shows what the general sentiment is among investors in the Bitcoin market. The metric uses a numeric scale that goes from zero to hundred, with values below fifty signaling a fear sentiment, while values above 50 implying a greedy sentiment in the market. Values close to the extremities, that is, below 25 and above 75, indicate extreme fear and extreme greed, respectively. Usually, fear values are seen when the Bitcoin price is showing a declining trend, while greed values are seen during upwards movement. The extreme values imply investors are either overly bearish (in case of extreme fear) or overly bullish (for extreme greed) about the crypto’s future. Such points can therefore lead to a reversal in the price. For this reason, some traders tend to consider periods of extreme fear as good buying points, and that of extreme greed as selling points. Related Reading | Bitcoin SOPR Suggests Current Market Activity Resembles Early Bull Run Behavior Here is where the current fear and greed needle points at: The Bitcoin market seems to be greedy...