Data shows the Bitcoin market sentiment has seen a sharp turnaround recently as the Fear & Greed Index has swung to extreme fear.
Bitcoin Fear & Greed Index Is Back In Extreme Fear Zone
The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the average sentiment present among traders in the Bitcoin and wider cryptocurrency markets.
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The index uses the data of the following five factors to determine the investor mentality: market cap dominance, trading volume, volatility, Google Trends, and social media sentiment. To represent the sentiment, it uses a numerical scale running from zero to hundred.
When the value of the Fear & Greed Index is greater than 53, it means a sentiment of greed is shared
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