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Wednesday, October 5, 2022
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    HomeBitcoinBitcoin Sentiment Again Slips Into Fear After Briefly Turning Neutral This Week

    Bitcoin Sentiment Again Slips Into Fear After Briefly Turning Neutral This Week

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    Knowledge reveals the Bitcoin market sentiment has as soon as once more slipped into concern territory after standing impartial for the previous couple of days.

    Bitcoin Worry And Greed Index As soon as Once more Factors At “Worry”

    The “fear and greed index” is an indicator that measures the final investor sentiment of the cryptocurrency market.

    The metric makes use of a numeric scale starting from zero to hundred for representing the sentiment. All values above fifty signify that the market is grasping in the intervening time.

    Alternatively, index values under the cutoff suggest that the typical investor is fearful proper now. Values near fifty, each under and above, are thought of to be contained in the “impartial” territory.

    The intense values of above 75 and under 25 point out an excessive greed and extreme fear sentiment, respectively.

    Some traders notably discover curiosity in these excessive territories as bottoms and tops have traditionally fashioned throughout such sentiments.

    Tops are likely to occur throughout excessive greed whereas bottoms throughout excessive concern. “Contrarian investing” is a buying and selling perception that’s primarily based on this concept.

    Associated Studying | War Driven Bitcoin Price Action Leads To Largest Volume Since 2021

    This well-known quote from Warren Buffet sums up this philosophy the very best: “Be fearful when others are grasping, and grasping when others are fearful.”

    Now, here’s a chart from the most recent Arcane Research report that reveals the development within the Bitcoin concern and greed index over the previous 12 months:

    Bitcoin Fear And Greed Index

    The indicator appears to have noticed a worth of 51 this Tuesday | Supply: Arcane Research's The Weekly Update - Week 8, 2022

    As you’ll be able to see within the above graph, the Bitcoin concern and greed index has stayed within the concern territory for many of 2022 to this point.

    On the time when the report got here out, the metric had simply entered the impartial area with a worth of 51. Nevertheless, that was two days in the past.

    Associated Studying | Bitcoin For A Tank – Hacker Group Offers $52,000 For Russian Troops To Surrender Their Tanks

    Right this moment, the indicator is already pointing again at “concern,” because the under meter reveals.

    Bitcoin Fear

    Seems just like the Bitcoin concern and greed index has a worth of 39 in the intervening time | Supply: alternative.me

    Ultimately, the market sentiment might solely stay impartial for simply two days earlier than falling again into the concern territory.

    The explanation behind this development appears to be the decline within the value of Bitcoin that began after the crypto briefly surged above the $45k stage yesterday.

    BTC Worth

    On the time of writing, Bitcoin’s price floats round $43.9k, up 23% up to now week. Under is a chart that reveals the development within the value of the coin during the last 5 days.

    Bitcoin Price Chart

    BTC's value appears to have surged up over the previous few days | Supply: BTCUSD on TradingView
    Featured picture from Unsplash.com, charts from TradingView.com, Arcane Analysis



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