{"id":479179,"date":"2021-12-17T16:00:47","date_gmt":"2021-12-17T16:00:47","guid":{"rendered":"https:\/\/wncen.com\/?p=479179"},"modified":"2024-06-11T14:09:55","modified_gmt":"2024-06-11T14:09:55","slug":"crypto-market-drops-back-into-extreme-fear-as-prices-struggle","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/crypto-market-drops-back-into-extreme-fear-as-prices-struggle\/","title":{"rendered":"Crypto Market Drops Back Into \u2018Extreme Fear\u2019 As Prices Struggle"},"content":{"rendered":"

The crypto market has continued to struggle after running out of steam with its last rally. During the last lap of the year, the market as a whole is not doing too well, although prices of cryptocurrencies are way higher than they were this time last year. Nonetheless, there have been some interesting trends that have emerged with the market crash that has seen prices stagnate at this time.<\/p>\n

The Fear & Greed Index has shown that market sentiment has gone into the extreme negative once again. With prices of top assets like bitcoin and ethereum trading below important support points, sentiment has fluctuated widely in the market but has mostly stayed in the negative. This time around, market sentiment has dropped low and landed in the \u2018extreme fear\u2019 territory.<\/p>\n

Related Reading |\u00a0Algorand, Solana, And More Lead List Of Biggest Losing Altcoins<\/a><\/strong><\/em><\/p>\n

Crypto Market Basking In Fear<\/h2>\n

The crypto market has spent a good portion of the month of December in the fear territory. Market prices haven\u2019t been the most favorable for the month and investors remain incredibly wary of getting into the market at such a time. Others have however seen this as a buying opportunity like in the case of MicroStrategy, which bought an additional 1,434 BTC bringing its total holdings to 122,480 BTC.<\/p>\n

The aggregate for the month of November came out to neutral on the sentiment side of things after a tumultuous end to an otherwise wonderful beginning of the month. That has spilled into December as Christmas rolls around.<\/p>\n

\"Chart<\/p>\n

Market goes into extreme fear | Source: alternative.me<\/a><\/pre>\n
Yesterday the Fear & Greed Index had peaked at 29 on the chart, putting the market in the fear territory. This was up a bit from last week where the market spent long stretches in extreme fear. Today, market sentiment again rolled into the extreme fear territory with a low 23 on the chart.<\/p>\n
The index being this low shows that there are low buying pressures in the market and high selling pressures. Sell-offs are still underway in various digital assets that have seen their prices dip into the red. As the market heads into the weekend which is usually characterized by low volatility, will the market be able to pull itself out of extreme greed?<\/p>\n
Bitcoin, Ethereum Suffer Losses<\/h2>\n
Bitcoin had made a splash in the market when it had hit its new all-time high slightly above $69,000 at the beginning of November. This had sent the crypto market on what would be a memorable bull run as Ethereum came close to hitting the $5,000 mark not too long after. But this would only be short-lived as the downtrend had begun not too long after.<\/p>\n
Related Reading |\u00a0Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin<\/a><\/strong><\/em><\/p>\n
For Bitcoin, the digital asset had lost as much as $10,000 in a single day that sent it towards the low $40,000s. Ethereum on the other hand had held out for a while but succumbed to the downtrend in time.<\/p>\n
Bitcoin is now trading well below $50,000 after failing to hold above this price point this week. Ethereum is now trading below $4,000, a crucial support point for the digital asset. At the time of writing, bitcoin is trading at $47,141 and ethereum is trading at $3,826.<\/p>\n
\"Crypto<\/p>\n
Crypto total market cap at $2.16 trillion | Source: Crypto Total Market Cap on TradingView.com<\/a><\/pre>\n
Featured image from Bitcoin News, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"
The crypto market has continued to struggle after running out of steam with its last rally. During the last lap of the year, the market as a whole is not doing too well, although prices of cryptocurrencies are way higher than they were this time last year. Nonetheless, there have been some interesting trends that have emerged with the market crash that has seen prices stagnate at this time. The Fear & Greed Index has shown that market sentiment has gone into the extreme negative once again. With prices of top assets like bitcoin and ethereum trading below important support points, sentiment has fluctuated widely in the market but has mostly stayed in the negative. This time around, market sentiment has dropped low and landed in the \u2018extreme fear\u2019 territory. Related Reading |\u00a0Algorand, Solana, And More Lead List Of Biggest Losing Altcoins Crypto Market Basking In Fear The crypto market has spent a good portion of the month of December in the fear territory. Market prices haven\u2019t been the most favorable for the month and investors remain incredibly wary of getting into the market at such a time. Others have however seen this as a buying opportunity like in the case of MicroStrategy, which bought an additional 1,434 BTC bringing its total holdings to 122,480 BTC. The aggregate for the month of November came out to neutral on the sentiment side of things after a tumultuous end to an otherwise wonderful beginning of the month. That has spilled into December as Christmas rolls around. Market goes into extreme fear | Source: alternative.me Yesterday the Fear & Greed Index had peaked at 29 on the chart, putting the market in the fear territory. This was up a bit from last week where the market spent long stretches in extreme fear. Today, market sentiment again rolled into the extreme fear territory with a low 23 on the chart. The index being this low shows that there are low buying pressures in the market and high selling pressures. Sell-offs are still underway in various digital assets that have seen their prices dip into the red. As the market heads into the weekend which is usually characterized by low volatility, will the market be able to pull itself out of extreme greed? Bitcoin, Ethereum Suffer Losses Bitcoin had made a splash in the market when it had hit its new all-time high slightly above $69,000 at the beginning of November. This had sent the crypto market on what would be a memorable bull run as Ethereum came close to hitting the $5,000 mark not too long after. But this would only be short-lived as the downtrend had begun not too long after. Related Reading |\u00a0Crypto Bull Cathie Wood Says Ethereum Is More Undervalued Than Bitcoin For Bitcoin, the digital asset had lost as much as $10,000 in a single day that sent it towards the low $40,000s. Ethereum on the other hand had held out for a while but succumbed to the downtrend in time. Bitcoin is now trading well below $50,000 after failing to hold above this price point this week. Ethereum is now trading below $4,000, a crucial support point for the digital asset. At the time of writing, bitcoin is trading at $47,141 and ethereum is trading at $3,826. Crypto total market cap at $2.16 trillion | Source: Crypto Total Market Cap on TradingView.com Featured image from Bitcoin News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":479184,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[83386,3],"tags":[6664,12254,1558,84094,13266,24360],"class_list":["post-479179","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto","category-news","tag-crypto","tag-crypto-crash","tag-cryptocurrency","tag-fear-greed-index","tag-market-sentiment","tag-sentiment"],"acf":[],"yoast_head":"\nCrypto Market Drops Back Into \u2018Extreme Fear\u2019 As Prices Struggle<\/title>\n<meta name=\"description\" content=\"The crypto market has continued to struggle after running out of steam with its last rally. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Crypto Market Drops Back Into \u2018Extreme Fear\u2019 As Prices Struggle","url":"http:\/\/wncen.com\/news\/crypto-market-drops-back-into-extreme-fear-as-prices-struggle\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/crypto-market-drops-back-into-extreme-fear-as-prices-struggle\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/extreme-fear-crypto.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/extreme-fear-crypto.jpeg?fit=1280%2C720"},"articleSection":"Crypto","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["crypto","crypto crash","cryptocurrency","fear & greed index","market sentiment","sentiment"],"dateCreated":"2021-12-17T16:00:47Z","datePublished":"2021-12-17T16:00:47Z","dateModified":"2024-06-11T14:09:55Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Crypto Market Drops Back Into \\u2018Extreme Fear\\u2019 As Prices Struggle\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-drops-back-into-extreme-fear-as-prices-struggle\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/crypto-market-drops-back-into-extreme-fear-as-prices-struggle\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/extreme-fear-crypto.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/extreme-fear-crypto.jpeg?fit=1280%2C720\"},\"articleSection\":\"Crypto\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"crypto\",\"crypto crash\",\"cryptocurrency\",\"fear & greed index\",\"market sentiment\",\"sentiment\"],\"dateCreated\":\"2021-12-17T16:00:47Z\",\"datePublished\":\"2021-12-17T16:00:47Z\",\"dateModified\":\"2024-06-11T14:09:55Z\"}<\/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\/2021\/12\/extreme-fear-crypto.jpeg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479179"}],"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\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=479179"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479179\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/479184"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=479179"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=479179"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=479179"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}