A sharp fall throughout the August has been witnessed by the Crypto Fear and Greed Index. And we have seen the element of fear and extreme fear among the investors of cryptocurrency.
According to the recent update, the Crypto Fear and Greed index has shown the element of extreme fear among cryptocurrency investors.
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As the Fear and Greed Index of August 22, 2019 shows
The more the index is lower, the level of fear will be high as much among the cryptocurrency investors. As the above index is giving number 5 then it means that the level of fear is extremely high in the investors of cryptocurrency.
We have found a good recovery from Bitcoin and other digital cryptocurrencies. But we still can see the nervousness in the traders and investors of cryptocurrency while observing the crypto market. The drop in the index at its low level shows that the sentiments of markets have taken the U-turn for a bearish and bullish market.
There are some global issues like the US-China trade war, slowing global demand, and Brexit uncertainty which we can find in the current markets.
Because of economic slowdown and global geopolitical uncertainty, there is a chance that Bitcoin being the largest cryptocurrency may serve as a vehicle for the money of crypto investors and traders since the price of Bitcoin is circulating around the figure of $10000.
Sentiment History of Crypto Market over Time
Currently, the fear index is showing the number 5, yesterday it was 11 and the fear index of last week and last month was 31 and 24 respectively. This fluctuation in the index created some panic among the crypto investors and traders.
Below is given the plot of the Crypto Fear and Greed Index of the last 365 days. In the plot the value of 0 shows the level of Extreme Fear while the value 100 shows the level of Extreme Greed.
Source: crypto fear and greed index
When Facebook declared the announcement of the development of its digital currency Libra, the Fear Index was at its peak in trading in June. But i’d suddenly started to fall since the Libra is confronting several political and regulatory obstacles in the US.
Cryptocurrency Market lost $30 Billion
As we have seen that there has been a massive fall in the Crypto Fear and Greed Index so because of this fall, the market of cryptocurrency had to lose $30 Billion during the process.
Conclusively, the index has been showing the level of fear among the traders and investors of cryptocurrency and the fluctuation in the level of fear will remain to continue till there is nervousness in the crypto traders and investors.