{"id":550970,"date":"2023-09-13T00:00:48","date_gmt":"2023-09-13T00:00:48","guid":{"rendered":"https:\/\/wncen.com\/?p=550970"},"modified":"2024-06-11T08:11:29","modified_gmt":"2024-06-11T08:11:29","slug":"bitcoin-sentiment-close-extreme-fear-why-matters","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/bitcoin-sentiment-close-extreme-fear-why-matters\/","title":{"rendered":"Bitcoin Sentiment Now Close To Extreme Fear: Why This Matters"},"content":{"rendered":"

Data shows the Bitcoin market sentiment has worsened recently and is approaching extreme fear territory.<\/p>\n

Bitcoin Fear & Greed Index Has Plunged Inside The Fear Region Recently<\/h2>\n

The “fear and greed index<\/a>” is a Bitcoin indicator that tells us about the general sentiment among the investors in the Bitcoin and broader cryptocurrency market. This metric uses a numeric scale from zero to a hundred to represent this sentiment.<\/p>\n

When the index has a value greater than 54, the investors share greed. On the other hand, values under 46 imply the presence of fear in the market. The in-between region naturally suggests that the majority mentality is neutral currently.<\/p>\n

Here is what the Bitcoin fear and greed index looks like right now:<\/p>\n

\"Bitcoin<\/p>\n

The value of the index appears to be 30 at the moment | Source: Alternative<\/a><\/pre>\n
As displayed above, the Bitcoin fear and greed index currently has a value of 30, meaning that most investors in the sector share a mentality of fear.<\/p>\n
Related Reading: Bitcoin Forming Death Cross: Here\u2019s What Happened Last Time<\/a><\/div>\n
Just yesterday, the indicator had a value of 40, implying that the sentiment has worsened quite a bit during the past day.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the metric's value has sharply declined | Source: Alternative<\/a><\/pre>\n
Besides the three core sentiments already discussed, there are also “extreme fear” and “extreme greed.” These two regions of the indicator have been pretty significant historically for the cryptocurrency.<\/p>\n
The reason is that extreme fear occurs at and under 25 when the major bottoms have formed for the asset’s price. Similarly, the tops have occurred in extreme greed (at and above 75).<\/p>\n
Bitcoin has generally tended to go against what most investors expect. The extreme regions are when this expectation is the strongest, hence why a reversal occurred.<\/p>\n
A trading technique called “contrarian investing<\/a>” exploits this apparent pattern. Warren Buffet’s famous quote says, “be fearful when others are greedy, and greedy when others are fearful.”<\/p>\n
The current value of the index (30) is quite close to the extreme fear region, which means that if sentiment worsens further in the coming days, it might drop into this territory. Naturally, if such a drop happens, a contrarian investor might take it as a signal to buy the cryptocurrency.<\/p>\n
Related Reading: Bitcoin Adoption: Addresses Saw 2nd-Highest Rise In History This Weekend<\/a><\/div>\n
Interestingly, if Bitcoin bottoms out in the coming weeks and sets itself up for a reversal, it would align with the historical Halloween Effect<\/a>. According to this effect, BTC and other assets usually perform the best between 31 October and 1 May.<\/p>\n
Those who practice the “sell in May and go away” strategy come back this season to buy back into the asset. It remains to be seen how the Bitcoin sentiment will develop in the coming month and if the Halloween Effect will play any role.<\/p>\n
BTC Price<\/h2>\n
At the time of writing, Bitcoin is trading at around $26,200, up 1% during the past week.<\/p>\n
\"Bitcoin<\/p>\n
BTC has enjoyed some rise during the past 24 hours | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Alternative.me<\/div>\n","protected":false},"excerpt":{"rendered":"
Data shows the Bitcoin market sentiment has worsened recently and is approaching extreme fear territory. Bitcoin Fear & Greed Index Has Plunged Inside The Fear Region Recently The “fear and greed index” is a Bitcoin indicator that tells us about the general sentiment among the investors in the Bitcoin and broader cryptocurrency market. This metric uses a numeric scale from zero to a hundred to represent this sentiment. When the index has a value greater than 54, the investors share greed. On the other hand, values under 46 imply the presence of fear in the market. The in-between region naturally suggests that the majority mentality is neutral currently. Here is what the Bitcoin fear and greed index looks like right now: The value of the index appears to be 30 at the moment | Source: Alternative As displayed above, the Bitcoin fear and greed index currently has a value of 30, meaning that most investors in the sector share a mentality of fear. Related Reading: Bitcoin Forming Death Cross: Here\u2019s What Happened Last Time Just yesterday, the indicator had a value of 40, implying that the sentiment has worsened quite a bit during the past day. Looks like the metric’s value has sharply declined | Source: Alternative Besides the three core sentiments already discussed, there are also “extreme fear” and “extreme greed.” These two regions of the indicator have been pretty significant historically for the cryptocurrency. The reason is that extreme fear occurs at and under 25 when the major bottoms have formed for the asset’s price. Similarly, the tops have occurred in extreme greed (at and above 75). Bitcoin has generally tended to go against what most investors expect. The extreme regions are when this expectation is the strongest, hence why a reversal occurred. A trading technique called “contrarian investing” exploits this apparent pattern. Warren Buffet’s famous quote says, “be fearful when others are greedy, and greedy when others are fearful.” The current value of the index (30) is quite close to the extreme fear region, which means that if sentiment worsens further in the coming days, it might drop into this territory. Naturally, if such a drop happens, a contrarian investor might take it as a signal to buy the cryptocurrency. Related Reading: Bitcoin Adoption: Addresses Saw 2nd-Highest Rise In History This Weekend Interestingly, if Bitcoin bottoms out in the coming weeks and sets itself up for a reversal, it would align with the historical Halloween Effect. According to this effect, BTC and other assets usually perform the best between 31 October and 1 May. Those who practice the “sell in May and go away” strategy come back this season to buy back into the asset. It remains to be seen how the Bitcoin sentiment will develop in the coming month and if the Halloween Effect will play any role. BTC Price At the time of writing, Bitcoin is trading at around $26,200, up 1% during the past week. BTC has enjoyed some rise during the past 24 hours | Source: BTCUSD on TradingView Featured image from Kanchanara on Unsplash.com, charts from TradingView.com, Alternative.me<\/p>\n","protected":false},"author":542,"featured_media":551021,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,85118,89364,86409,1119,1144],"class_list":["post-550970","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-extreme-fear","tag-bitcoin-fear-greed","tag-bitcoin-sentiment","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Sentiment Now Close To Extreme Fear: Why This Matters<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin market sentiment has worsened recently and is now approaching the extreme fear territory.\" \/>\n<meta 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Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/wncen.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Sentiment Now Close To Extreme Fear: Why This Matters","url":"http:\/\/wncen.com\/news\/bitcoin-sentiment-close-extreme-fear-why-matters\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/bitcoin-sentiment-close-extreme-fear-why-matters\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/kanchanara-GnWfl_nnZro-unsplash-1.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/09\/kanchanara-GnWfl_nnZro-unsplash-1.jpg?fit=6048%2C4024"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin extreme fear","bitcoin fear & greed","bitcoin sentiment","btc","btcusd"],"dateCreated":"2023-09-13T00:00:48Z","datePublished":"2023-09-13T00:00:48Z","dateModified":"2024-06-11T08:11:29Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Sentiment Now Close To Extreme Fear: Why This Matters\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-sentiment-close-extreme-fear-why-matters\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/bitcoin-sentiment-close-extreme-fear-why-matters\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/kanchanara-GnWfl_nnZro-unsplash-1.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/09\\\/kanchanara-GnWfl_nnZro-unsplash-1.jpg?fit=6048%2C4024\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin extreme fear\",\"bitcoin fear & greed\",\"bitcoin sentiment\",\"btc\",\"btcusd\"],\"dateCreated\":\"2023-09-13T00:00:48Z\",\"datePublished\":\"2023-09-13T00:00:48Z\",\"dateModified\":\"2024-06-11T08:11:29Z\"}<\/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\/2023\/09\/kanchanara-GnWfl_nnZro-unsplash-1.jpg?fit=6048%2C4024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550970","targetHints":{"allow":["GET"]}}],"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\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=550970"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/550970\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/551021"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=550970"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=550970"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=550970"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}