There is extreme fear in the Bitcoin market, according to the Fear & Greed Index
1 min read
The Bitcoin Fear & Greed Index (BFGI), which expresses the sentiment on the Bitcoin market, is currently at almost the lowest levels in its history. This means that there is huge nervousness and fear in the BTC market.
The BFGI on a scale of 1 to 100 analyzes market sentiment. The lower the value, the more fear there is in the market and the higher the higher the optimism, or “extreme greed”.
At the time of writing, we must state that it is 9 points, which is extremely close to the historically lowest values of this index. He was below only 22nd August 2019, when he found himself on 5 points.
In this index, it is important to note that in many cases its low values proved to be the ideal time to invest and conversely, when the market was extremely optimistic, it was a good signal to sell. An example is the period before 26 June 2019, when the index had a record value of 95 points and then came a significant fall in the price of Bitcoin.
