The crypto Fear & Greed Index is in a terrible state

in hive-183397 •  2 months ago 

Assalamu Alaikum


How are you? By Allah's grace, I'm doing very well. Currently, the only question on everyone's mind is when the bullrun will start in the market or how much lower the price of Bitcoin will go. We will do fundamental analysis to understand where the price of Bitcoin can go at this moment. After that, we will take a look at the technical side to see where the price of Bitcoin can go.

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You may have noticed that there are some very strong fundamental news in the market, the most hyped news is that Donald Trump is going to hold a crypto summit at the White House for the first time and this crypto summit will be hosted on March 7th and you can see here that prominent Crypto founders, crypto CEOs and big crypto investors will also attend this summit. You can understand that this is a very positive news for the crypto market but it is important to see whether Donald Trump gives any positive statement about Bitcoin on that day because you may have noticed that when the election was held in America, but due to some speeches of Donald Trump, the price of Bitcoin instantly pumped and crossed 100 thousand dollars while pumping continuously. So you can understand that a positive statement by Donald Trump can have a good effect on the market.

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Then if you look at the crypto Fear & Greed Index, you can see that it is currently showing 26 but a day ago it dropped to 10 and at that time it was showing extremely fear here. And whenever this Index shows fear or extremely fear here, then there is a good spike in the market. At the same time, when it shows extremely greed, then we see a big selling pressure in the market. As we have been seeing for the last few months.

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In addition, if you scroll down this page a little and select 6 months, you will see that the fear & greed index has never dropped to 10 in the last six months. You can see here that it dropped to 10 a few days ago and the 26 that is showing today has not dropped to 26 in the last six months. So it can be seen that people are very afraid, that is, people have been liquidated so much or so many people have had their stop loss hit that now people are afraid to open a trade. And every time this has happened, we have seen a very good movement in the market. For example, in the beginning, you can see that the crypto Fear & Greed Index was in a very bad state for two consecutive months, then you can see that the market condition was very good for the next few months. In the same way, here too, we can see that the crypto Fear & Greed Index has not been in a good state for the last few months and has finally dropped to 10, so there is a lot of chance of a very good movement in the market after this.

Today's discussion concludes here. I hope you've found it interesting. Please share your thoughts on today's topic. Prayers for everyone. May everyone be well. Amen.

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Upvoted! Thank you for supporting witness @jswit.

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The crypto Fear & Greed Index is in a terrible state is a great article.

Thanks.