Bitcoin Price Fear & Greed Index Back to ‘Extreme Fear’ Dec 2018 Lows
Marie Huillet's original article for cointelegraph.com reduced by 70%
Bitcoin investors are no longer as buoyant as they were three months ago, judging by the latest readings from the Crypto Fear and Greed Index. On Aug. 14, the Bitcoin-only index - which plots investor sentiment on a scale of 1 to 100 - hit its lowest levels since December 2018.Today: "Fear," yesterday: "Extreme fear".
Just under three months ago, in late June, Bitcoin investors had seemingly hit a level of unbridled optimism, with the CFGI reporting readings of as high as 95. As of press time, the index is reporting a level of 31, having plunged as low as 11 on Aug. 14.
These are levels not seen since December 2018, in the depths of crypto winter - when Bitcoin was trading not much higher than $3,000 a coin. Over the course of the past 30 days, the highest value reported by the index has been 64 - representing a fleeting recovery in sentiment during several days in early August. The index reportedly draws on five data points: volatility, market momentum and volume, social media, surveys and Bitcoin dominance.
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CN [too long; didn’t read]
Summarised crypto news.