The fact that Bitcoin is trading at the $40,000 limit again has also changed the sentiment of investors about the cryptocurrency market. The greedy market when the price approached $50,000 has once again entered the extreme fear zone with the price pullback.
The "fear and greed index" calculated by the popular analysis company, which tries to measure the emotional reflexes of crypto money investors, based on the trends of market volatility, market volume acceleration, social media interest, Bitcoin dominance graph and the types of research on cryptocurrencies on the internet, was given as 22 points out of 100. calculated.
As in other markets, it is often said that the principle of "be greedy when everyone is afraid, be afraid when everyone is greedy" gives good results in the crypto money markets. Historically, the level of extreme fear has rarely fallen below 10 points. This shows that 10 points can be accepted as the bottom level. Therefore, as the extreme fear zone approaches 10 points, it can be thought that the market offers new entry opportunities to investors.
When the fear greed graph is examined so far, we see that the extreme fear situation at the bottom can continue for 30 days to 45 days and the price has difficulty in recovering during this time.
If the selling pressure continues in Bitcoin, which is technically traded below the weekly Ma20 and Ma50, the fear for the new entry can be expected to increase a little more. It is the consensus of most crypto analysts that it is correct to keep a distance from the market before the price goes above the weekly ma20 and 50 or before the rise is triggered by big news.
Bitcoin is changing hands at $40.482 at the time of writing. The last 24-hour trading volume of BTC is $22,000,737,754. Bitcoin (BTC) price is up 1.2% in the last 24 hours.