{"id":628356,"date":"2024-07-08T17:30:44","date_gmt":"2024-07-08T17:30:44","guid":{"rendered":"https:\/\/wncen.com\/?p=628356"},"modified":"2024-07-08T13:50:27","modified_gmt":"2024-07-08T13:50:27","slug":"bitcoin-extreme-greed-what-it-means-for-bottom","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/bitcoin-extreme-greed-what-it-means-for-bottom\/","title":{"rendered":"Bitcoin ‘Extreme Greed’ Is Almost Here: Price Bottom Now Close?"},"content":{"rendered":"

Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. Here’s what this could mean for the cryptocurrency’s price.<\/p>\n

Bitcoin Fear & Greed Index Has Continued To Decline Recently<\/h2>\n

The “Fear & Greed Index<\/a>” is an indicator developed by Alternative<\/a> that tells us about the average sentiment that traders in the Bitcoin and wider cryptocurrency market currently share.<\/p>\n

The index uses five factors to determine this sentiment: volatility, trading volume, social media, market cap dominance, and Google Trends. The metric uses a numeric scale that runs from zero to hundred for representing the mentality.<\/p>\n

Related Reading: Social Media Screams \u201cSell\u201d As Bitcoin Crashes To $54,000: Buy Signal?<\/a><\/div>\n

All values of the indicator above the 53 mark suggest the presence of greed among the investors, while those below 47 imply the dominance of fear. The region in between these two thresholds correlates to a neutral sentiment.<\/p>\n

Now, here is what the Bitcoin Fear & Greed Index is looking like right now:<\/p>\n

\"Bitcoin
The value of the metric appears to be quite low | Source: Alternative<\/a><\/figcaption><\/figure>\n

As is visible above, Bitcoin Fear & Greed currently has a value of 28, meaning that the average investor is showing fear. The degree of fearfulness must also be quite notable, as this current value is pretty deep into the territory.<\/p>\n

In fact, the latest level of the indicator is quite close to a special region called the “extreme fear.” Investors display extreme fear when the index goes under 25. There is also a similar zone for the greed side as well, which is known as “extreme greed” and occurs above 75.<\/p>\n

During the first half of last month, the metric had been in or close to the latter region, but the recent downturn<\/a> in the market has sharply degraded the sentiment to the other end of the spectrum.<\/p>\n

\"Bitcoin
Looks like the value of the metric has plunged in recent days | Source: Alternative<\/a><\/figcaption><\/figure>\n

Historically, Bitcoin and other cryptocurrencies have tended to show moves opposite to what the majority are expecting. The stronger the crowd’s expectation gets, the higher the probability of such a contrary move becomes.<\/p>\n

Related Reading: Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State<\/a><\/div>\n

The extreme sentiments are where the traders are leaning towards one direction too much. As such, major tops and bottoms in the asset have usually formed when the index has been in these zones.<\/p>\n

Because of this fact, some traders prefer to buy when investors are showing extreme fear and sell during extreme greed. This trading philosophy is popularly called “contrarian investing<\/a>.” Warren Buffet’s famous quote sums up the idea, “be fearful when others are greedy, and greedy when others are fearful.”<\/p>\n

As the Bitcoin Fear & Greed index is approaching the extreme fear territory, it’s possible that the cryptocurrency could once again show profitable entry points soon, if the past is anything to go by.<\/p>\n

BTC Price<\/h2>\n

Bitcoin has so far been unable to make too much recovery from its recent crash, as its price is still trading around $56,700.<\/p>\n

\"Bitcoin
The price of the coin seems to have been moving sideways recently | Source: BTCUSD on TradingView<\/a><\/figcaption><\/figure>\n
Featured image from Dall-E, Alternative.me, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. Here’s what this could mean for the cryptocurrency’s price. Bitcoin Fear & Greed Index Has Continued To Decline Recently The “Fear & Greed Index” is an indicator developed by Alternative that tells us about the average sentiment that traders in the Bitcoin and wider cryptocurrency market currently share. The index uses five factors to determine this sentiment: volatility, trading volume, social media, market cap dominance, and Google Trends. The metric uses a numeric scale that runs from zero to hundred for representing the mentality. Related Reading: Social Media Screams \u201cSell\u201d As Bitcoin Crashes To $54,000: Buy Signal? All values of the indicator above the 53 mark suggest the presence of greed among the investors, while those below 47 imply the dominance of fear. The region in between these two thresholds correlates to a neutral sentiment. Now, here is what the Bitcoin Fear & Greed Index is looking like right now: As is visible above, Bitcoin Fear & Greed currently has a value of 28, meaning that the average investor is showing fear. The degree of fearfulness must also be quite notable, as this current value is pretty deep into the territory. In fact, the latest level of the indicator is quite close to a special region called the “extreme fear.” Investors display extreme fear when the index goes under 25. There is also a similar zone for the greed side as well, which is known as “extreme greed” and occurs above 75. During the first half of last month, the metric had been in or close to the latter region, but the recent downturn in the market has sharply degraded the sentiment to the other end of the spectrum. Historically, Bitcoin and other cryptocurrencies have tended to show moves opposite to what the majority are expecting. The stronger the crowd’s expectation gets, the higher the probability of such a contrary move becomes. Related Reading: Is Bitcoin Undervalued Now? Industry Expert Decodes The Market State The extreme sentiments are where the traders are leaning towards one direction too much. As such, major tops and bottoms in the asset have usually formed when the index has been in these zones. Because of this fact, some traders prefer to buy when investors are showing extreme fear and sell during extreme greed. This trading philosophy is popularly called “contrarian investing.” Warren Buffet’s famous quote sums up the idea, “be fearful when others are greedy, and greedy when others are fearful.” As the Bitcoin Fear & Greed index is approaching the extreme fear territory, it’s possible that the cryptocurrency could once again show profitable entry points soon, if the past is anything to go by. BTC Price Bitcoin has so far been unable to make too much recovery from its recent crash, as its price is still trading around $56,700. Featured image from Dall-E, Alternative.me, chart from TradingView.com<\/p>\n","protected":false},"author":542,"featured_media":628394,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,27251,84484,88463,86409,1119,1144],"class_list":["post-628356","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-bottom","tag-bitcoin-extreme-greed","tag-bitcoin-fear-greed-index","tag-bitcoin-sentiment","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin 'Extreme Greed' Is Almost Here: Price Bottom Now Close?<\/title>\n<meta name=\"description\" content=\"Data shows the Bitcoin sentiment is close to entering into the extreme greed zone. 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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 ‘Extreme Greed’ Is Almost Here: Price Bottom Now Close?","url":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-extreme-greed-what-it-means-for-bottom\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/bitcoin-news\/bitcoin-extreme-greed-what-it-means-for-bottom\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/btc_c42114.png?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2024\/07\/btc_c42114.png?fit=1792%2C1024"},"articleSection":"Bitcoin 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 bottom","bitcoin extreme greed","bitcoin fear & greed index","bitcoin sentiment","btc","btcusd"],"dateCreated":"2024-07-08T17:30:44Z","datePublished":"2024-07-08T17:30:44Z","dateModified":"2024-07-08T17:30:44Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin ‘Extreme Greed’ Is Almost Here: Price Bottom Now Close?\",\"url\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-extreme-greed-what-it-means-for-bottom\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/bitcoin-news\\\/bitcoin-extreme-greed-what-it-means-for-bottom\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/btc_c42114.png?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2024\\\/07\\\/btc_c42114.png?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin 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 bottom\",\"bitcoin extreme greed\",\"bitcoin fear & greed index\",\"bitcoin sentiment\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-07-08T17:30:44Z\",\"datePublished\":\"2024-07-08T17:30:44Z\",\"dateModified\":\"2024-07-08T17:30:44Z\"}<\/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\/2024\/07\/btc_c42114.png?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/628356","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=628356"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/628356\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/628394"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=628356"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=628356"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=628356"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}