Fear and Greed Index Lowest Since the COVID-19 Crisis
Added 05-15-21 06:04:07am EST - “The Fear and Greed Index for Bitcoin showed the lowest value in more than a year, pointing to fear level at 26 yesterday. The last time such pessimistic sentiment was recorded in March-April 2020 during the market crash caused by…” - News.yahoo.com
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The Fear and Greed Index for Bitcoin showed the lowest value in more than a year, pointing to a fear level of 26 yesterday. The last time such pessimistic sentiment was recorded was in March and April 2020, during the market crash caused by the first wave of the COVID-19 pandemic.
Contrary to the bearish sentiment, the cryptocurrency macro analyst PlanB released an updated chart of its stock-to-flow model yesterday. According to him, the bull market has reached half of its run, and after a period of consolidation, it will face another 5x move up.
Yesterday, the popular Bitcoin sentiment indicator, the Fear and Greed Index, gave its lowest reading in over a year. The value of the indicator reached 26, which is interpreted as a strong indicator of fear in the market.
The last time the index recorded such low values in the period of March-April 2020 (orange rectangle), at the very beginning of the COVID-19 pandemic. Its direct result was the crisis in most financial markets, including the crypto space. Bitcoin then found a low at $3,782.
To be precise, the last time the value of 26 on the Fear and Greed Index was recorded on April 29, and the orange coin was then trading at $7,600.
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