Price drop bitcoins caused a feeling extreme fear in the market, according toFear and Greed Index” (Fear and Greed Index).
The highest price reached by bitcoin in last 30 daysit was last September 13th. when it listed for $22,539. Since that date, its price has decreased, as it happened this Monday, September 19, it was located $18,474.
At the time of writing this note, bitcoin managed to gain 2.96% in 1 hour, trading at $19,241 at 18:00 in Venezuela.
Over the past two days, the price of bitcoin has caused “extreme fear” market, with values of 23 and 22 from yesterday to today Thursday Alternative.me.
This fear has persisted since September 19, following a price drop in the cryptocurrency market. Last week the feeling in the market was just “scared”.
This index indicates the degree fear to lose when the price of bitcoin falls and greed when its value increases.
Boss measured from 0 to 100. The closer to zero, the greater the fear in the market, and the closer to 100, the greater the greed or avarice.
Fear and greed for bitcoin in recent days
From August 24 market sentiment remained between “Fear” and “Extreme Fear”.
This is the pattern persisted over the past 30 days, and the point is closest to a trend break September 14that is, the day after the maximum price was reached during this period, when it was $22,539.37.
What is the fear and greed index based on?
The indicators that define the index of fear and greed are based on:
- Market volatility: its percentage in the index is 25%. An examination of purchases and withdrawals to determine market volatility by comparing it to historical numbers over the past few weeks.
- market volume: its weight is also 25% and mainly depends on the number of purchases and withdrawals to get the amount.
- Interaction in social networks: Keywords are researched to analyze how much the currency is being talked about based on the rate of public interaction. Its weight is 15%.
- surveys: Based on mostly public opinion, it needs at least 2000 opinions. Although you have 15% index, this option is currently inactive.
- currency dominance: This ratio is similar to its market capitalization, but based on the decrease or increase in holders. Its value is 10% of the total index.
- The trend: This is very similar to the social engagement rate, but in this case it uses Google Trends. It has a 10% index.
Read our section about Prices and forecasts Here.
To read knowledge recently. Here.
This article is for informational purposes only and is not a purchase or investment recommendation. We encourage readers to do their due diligence before investing in NFT games or cryptocurrencies, as most are highly volatile.
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