Crypto traders are reliving the fear seen in December 2018, when Bitcoin’s price fell to levels of $ 3100. According to the Crypto Fear and Greed Index developed by the data platform Alternative.me, the crypto money market sentiment has not been able to get out of the “over-fear” situation for weeks. The index level recorded as “14” on March 12, when Bitcoin fell to $ 3700, fell to 8 on March 14. This place was last seen in August 2019, as well as in December 2018.
The index remained at “extreme fear” levels for several weeks in December, similar to today, when Bitcoin price hovered at $ 3000. Alternative.me states that the index is in a state of “extreme fear” may be a sign of buying opportunity. On the contrary, the feeling of “greed” means that a correction may occur soon. When calculating the index, the following factors are taken into account: Volatility (25% weight), Market Momentum / Volume (25% weight), Social Media (15% weight), Research (15% weight), Dominance (10% weight), Trends (10% weight).
