Bitcoin (BTC) investors are “extremely anxious” as the price continues to fall

The Crypto Fear & Greed Index is historically low. This means that market sentiment according to this index is “extremely anxious”. The situation remains uncertain, however, such a value of the index can also be a positive sign!

On May 20, the index showed a value of 11 and yesterday 12. Such values ​​were last seen more than a year ago amid the correction that resulted from the coronavirus outbreak at the time.

In the post-corona crash, the market scrambled to display “extreme greed” in late 2020, which could signal a possible impending correction. The madness eventually continued until January when we saw the first major correction of 2021 and the Crypto Fear & Greed Index dropped back to 55, a more “normal” value.

Over the past few months, the index crept back into greed due to the bitcoin (BTC) price that kept rising. This came to an end in recent weeks. Since April, the index has fallen back to the previously mentioned value of 11.

The Index is compiled by Alternative and consists of several factors. This is how volatility is looked at, high volatility is a sign that traders are anxious. The volume and social media messages are also looked at. According to Alternative, an extremely anxious situation is a sign that “investors are too worried. That could be a buying opportunity. ”

Not only bitcoin is now falling hard, also most altcoins are well in the minus. The entire market has even seen almost $ 1 trillion in value flow away in the past 7 days in what seems to be the result of fear by news from China.

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