{"id":433991,"date":"2020-08-10T17:00:09","date_gmt":"2020-08-10T17:00:09","guid":{"rendered":"https:\/\/wncen.com\/?p=433991"},"modified":"2020-08-10T15:25:11","modified_gmt":"2020-08-10T15:25:11","slug":"be-fearful-crypto-market-greed-reaches-second-highest-point-in-history","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/be-fearful-crypto-market-greed-reaches-second-highest-point-in-history\/","title":{"rendered":"Be Fearful: Crypto Market Greed Reaches Second Highest Point In History"},"content":{"rendered":"

With Bitcoin<\/a> pumping, major altcoins flying, and new all-time highs being set, the crypto market fear and greed index is tapping highs not seen in over a year. In fact, the metric has achieved the second-highest reading in the index’s history.<\/p>\n

What does soaring crypto market greed potentially reveal about where the current uptrend stands? Do Bitcoin, Ethereum, XRP, and others have more to run? Or is the early signs of a reversal ahead?<\/p>\n

Contrarian Trading Advocated By Warren Buffet, Other Billionaire Traders<\/h2>\n

Be fearful when others are greedy, and greedy when others are fearful. It is a trading and investing quote passed down from Warren Buffett<\/a> suggesting a contrarian position can be wildly profitable.<\/p>\n

Oftentimes, when a market is overly emotional, investors can be blinded by strong returns and not see what’s right before their eyes: a reversal<\/a>.<\/p>\n

Related Reading | Here\u2019s What Surging Crypto Market \u201cGreed\u201d Could Say About Today\u2019s Drop<\/a><\/strong><\/em><\/p>\n

During the peak of the crypto hype bubble, several Reddit threads talked about which projects were “undervalued.” The same assets listed as not yet reaching a valuation representative of its promise, dropped in price by over 99% in the months following.<\/p>\n

Especially when it comes to speculative assets like Bitcoin<\/a>, value \u2013 like beauty \u2013 is in the eye of the beholder. Now that assets have once again risen by as much as 200% or more since the start of the year, is the market now acting too irrational and exuberant to realize a reversal is looming<\/a>?<\/p>\n

\"crypto<\/p>\n

Crypto Market Fear and Greed Index | Source: Alternative.Me<\/a><\/pre>\n
Crypto Fear and Greed Index Reaches Second Highest Peak In History<\/h2>\n
Over the last week, the crypto market fear and greed index<\/a> peaked at around 80, reaching the second-highest point since its creation.<\/p>\n
The index is used to measure market sentiment during each peak and trough. It is often a helpful gauge in determining when trends may be reversing.<\/p>\n
The theory that when the crypto market gets overly greedy, a selloff ensues follows the Oracle of Omaha’s above quote and guidelines.<\/p>\n
The last time the reading rose to such levels, it signaled a long-term top in cryptocurrency<\/a>. The highest peak ever was set one year ago – between the June 2019 top and the late September breakdown below $10,000.<\/p>\n
Related Reading | How Crypto Market Fear And Greed Be Used Profitably As A Trade Trigger<\/a><\/strong><\/em><\/p>\n
The cryptocurrency remained trapped there for nearly a full year. Bitcoin<\/a> and the rest of the market have been soaring, with some altcoins growing 9000% in just over three months. Such gains aren’t sustainable, and as soon as profit-taking starts, crypto assets often correct extremely hard.<\/p>\n
Once the peak at greed breaks down again and reverses, will the crypto market fall all the way to fear again? Or will this simply be a short-term pullback on the asset class’s ongoing uptrend and climb into a new bull market?<\/p>\n","protected":false},"excerpt":{"rendered":"
With Bitcoin pumping, major altcoins flying, and new all-time highs being set, the crypto market fear and greed index is tapping highs not seen in over a year. In fact, the metric has achieved the second-highest reading in the index’s history. What does soaring crypto market greed potentially reveal about where the current uptrend stands? Do Bitcoin, Ethereum, XRP, and others have more to run? Or is the early signs of a reversal ahead? Contrarian Trading Advocated By Warren Buffet, Other Billionaire Traders Be fearful when others are greedy, and greedy when others are fearful. It is a trading and investing quote passed down from Warren Buffett suggesting a contrarian position can be wildly profitable. Oftentimes, when a market is overly emotional, investors can be blinded by strong returns and not see what’s right before their eyes: a reversal. Related Reading | Here\u2019s What Surging Crypto Market \u201cGreed\u201d Could Say About Today\u2019s Drop During the peak of the crypto hype bubble, several Reddit threads talked about which projects were “undervalued.” The same assets listed as not yet reaching a valuation representative of its promise, dropped in price by over 99% in the months following. Especially when it comes to speculative assets like Bitcoin, value \u2013 like beauty \u2013 is in the eye of the beholder. Now that assets have once again risen by as much as 200% or more since the start of the year, is the market now acting too irrational and exuberant to realize a reversal is looming? Crypto Market Fear and Greed Index | Source: Alternative.Me Crypto Fear and Greed Index Reaches Second Highest Peak In History Over the last week, the crypto market fear and greed index peaked at around 80, reaching the second-highest point since its creation. The index is used to measure market sentiment during each peak and trough. It is often a helpful gauge in determining when trends may be reversing. The theory that when the crypto market gets overly greedy, a selloff ensues follows the Oracle of Omaha’s above quote and guidelines. The last time the reading rose to such levels, it signaled a long-term top in cryptocurrency. The highest peak ever was set one year ago – between the June 2019 top and the late September breakdown below $10,000. Related Reading | How Crypto Market Fear And Greed Be Used Profitably As A Trade Trigger The cryptocurrency remained trapped there for nearly a full year. Bitcoin and the rest of the market have been soaring, with some altcoins growing 9000% in just over three months. Such gains aren’t sustainable, and as soon as profit-taking starts, crypto assets often correct extremely hard. Once the peak at greed breaks down again and reverses, will the crypto market fall all the way to fear again? Or will this simply be a short-term pullback on the asset class’s ongoing uptrend and climb into a new bull market?<\/p>\n","protected":false},"author":517,"featured_media":434038,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651,3],"tags":[142,428,6664,61534],"class_list":["post-433991","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","category-news","tag-altcoins","tag-bitcoin","tag-crypto","tag-fear-and-greed-index"],"acf":[],"yoast_head":"\nBe Fearful: Crypto Market Greed Reaches Second Highest Point In History<\/title>\n<meta name=\"description\" content=\"With Bitcoin pumping, major altcoins flying, and new all-time highs being set, the crypto market fear and greed index is tapping highs not seen in over a\" \/>\n<meta name=\"robots\" content=\"index, follow, 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As the Head of Research at NewsBTC, Tony leads a team dedicated to providing cutting-edge insights and forecasts, helping both novice and experienced traders navigate the complexities of the crypto market. A seasoned Chartered Market Technician, Tony's prowess in identifying and capitalizing on market patterns is unmatched. His academic and professional journey in market analysis has firmly established him as a leading authority in technical trading strategies. Tony\u2019s approach is heavily influenced by the principles of Elliott Wave Theory, a method known for its rigorous assessment of investor psychology and price movements. Beyond his role at NewsBTC, Tony is the visionary founder of CoinChartist.io, an educational platform aimed at demystifying the nuances of cryptocurrency trading. CoinChartist.io serves as a valuable resource for traders seeking to enhance their technical analysis skills. The platform offers a range of learning tools and resources designed to empower traders with the knowledge to make informed trading decisions. In addition to his educational initiatives, Tony is a prolific author and a dominant voice in the crypto community. He writes the CoinChartist VIP newsletter, a weekly dispatch that has become a staple among crypto enthusiasts, revered for its insightful analysis and actionable trading advice. This newsletter has consistently ranked as a best-seller on SubStack, boasting thousands of subscribers who rely on Tony\u2019s expertise to guide their trading strategies. Tony is also celebrated for his literary contributions to the field. He is the author of the highest-rated Crypto Trading Journal on Amazon.com, a testament to his ability to communicate complex trading concepts in an accessible manner. This journal is widely regarded as an essential tool for traders aiming to track their progress and refine their strategies. Before his ascent in the financial analysis world, Tony honed his skills in journalism. His background in this field has endowed him with a unique ability to present intricate market dynamics in a clear and compelling manner, making his insights highly sought after by a broad audience that ranges from casual readers to professional traders. His professional affiliations underscore his commitment to excellence and continuous learning. As a partner of Elliott Wave International and TradingView, Tony collaborates with other leading experts to enhance his knowledge and skills. His active membership in the CMT Association further aligns him with the highest standards of industry practices and ethics. Tony\u2019s nickname, \"The Bull,\" aptly reflects his aggressive and optimistic outlook on the cryptocurrency markets. His forecasts often anticipate significant upturns, earning him a reputation for bullish predictions that have frequently led to lucrative outcomes for those who follow his advice. In summary, Tony \"The Bull\" Severino, CMT, is more than just a technical analyst; he is a mentor, educator, and innovator whose influence in the cryptocurrency space continues to grow. His dedication to advancing the understanding of market forces and his commitment to providing high-quality, reliable analysis make him a pivotal figure in the world of cryptocurrency trading.","sameAs":["https:\/\/coinchartist.io\/","https:\/\/www.instagram.com\/coinchartist_io\/","https:\/\/x.com\/https:\/\/twitter.com\/tonythebullBTC","https:\/\/www.youtube.com\/@coinchartist_io"],"url":"https:\/\/wncen.com\/author\/tonymspilotro\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Be Fearful: Crypto Market Greed Reaches Second Highest Point In History","url":"http:\/\/wncen.com\/news\/be-fearful-crypto-market-greed-reaches-second-highest-point-in-history\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/be-fearful-crypto-market-greed-reaches-second-highest-point-in-history\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/crypto-fear-and-greed-Depositphotos_141437890_xl-2015-scaled.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/crypto-fear-and-greed-Depositphotos_141437890_xl-2015-scaled.jpg?fit=2560%2C1707"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Tony \"El Toro\" Severino"}],"creator":["Tony \"El Toro\" Severino"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["altcoins","bitcoin","crypto","fear and greed index"],"dateCreated":"2020-08-10T17:00:09Z","datePublished":"2020-08-10T17:00:09Z","dateModified":"2020-08-10T17:00:09Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Be Fearful: Crypto Market Greed Reaches Second Highest Point In History\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/be-fearful-crypto-market-greed-reaches-second-highest-point-in-history\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/be-fearful-crypto-market-greed-reaches-second-highest-point-in-history\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/crypto-fear-and-greed-Depositphotos_141437890_xl-2015-scaled.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/08\\\/crypto-fear-and-greed-Depositphotos_141437890_xl-2015-scaled.jpg?fit=2560%2C1707\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Tony \\\"El Toro\\\" Severino\"}],\"creator\":[\"Tony \\\"El Toro\\\" Severino\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"altcoins\",\"bitcoin\",\"crypto\",\"fear and greed index\"],\"dateCreated\":\"2020-08-10T17:00:09Z\",\"datePublished\":\"2020-08-10T17:00:09Z\",\"dateModified\":\"2020-08-10T17:00:09Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/08\/crypto-fear-and-greed-Depositphotos_141437890_xl-2015-scaled.jpg?fit=2560%2C1707","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/433991"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/517"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=433991"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/433991\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/434038"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=433991"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=433991"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=433991"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}