- The crypto Fear and Greed Index is currently in the “extreme fear” range, despite a mini resurgence of Bitcoin and other crypto tokens over the past two days
- Despite recent gains, the CFGI reading is currently at 16 out of 100, indicating extreme fear among investors
The crypto Fear and Greed Index is still in the “extreme fear” range, despite a mini resurgence of Bitcoin and other crypto tokens over the past two days.
In mid April, the Crypto Fear and Greed Index (CFGI) hit a score of 22, indicating “extreme fear”.
At that point, Bitcoin’s price was around US$40,000.
Since then the markets have slid even lower and on May 12 Bitcoin hit a year low of US$25,401.
Despite recent gains, the CFGI is still in the “extreme fear” zone and the CFGI ranking is currently 16 out of 100.
According to some analysts, this isn’t necessarily a bad thing as extreme fear can mean that now could be a buying opportunity.
It’s when Investors are getting too greedy, that means the market is due for a correction.
Bitcoin continued its solid growth from yesterday adding an extra 1.12 per cent to sit at US$31,900.
Meanwhile, Ethereum dropped 2.3 per cent from yesterday to reach US$1,943.
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Data Source: CoinMarketCap.com, based on top 100 cryptos.
Note: Growth from the 24 hours prior to 12:30pm AEDT
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