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TL;DR
The Crypto Concern and Greed Index goals to characterize the “feelings and sentiments” in the direction of Bitcoin and the crypto market, by considering elements like volatility and buying and selling quantity.
Early this week, the Index hit 68 – its highest rating since Nov. 16, 2021.
Whereas the Crypto Concern and Greed Index is a pleasant, simple, self-importance metric that lets us sustain with the market sentiment at a excessive degree every day, it doesn’t consider technical and elementary analytics.
Full Story
People are fascinating creatures.
We like to take seemingly random concepts, flip them right into a quantity, after which use that quantity to make all types of choices.
Which is precisely what the ‘Crypto Concern and Greed Index’ does.
The Crypto Concern and Greed Index goals to characterize the “feelings and sentiments” in the direction of Bitcoin and the crypto market, by considering elements like volatility and buying and selling quantity.
Its ranking is out of 100; the upper, the higher.
Early this week, the Index hit 68 – its highest rating since Nov. 16, 2021.
(Just some days after Bitcoin’s all time excessive of ~$69,000 USD on Nov. 10, 2021).
So, the Index is nicely and actually again in ‘Greed’ territory, however what’s it imply for BTC and crypto as an entire?
In the event you’re a day dealer, or in case you’re making an attempt to time the market, issues might begin to get actual attention-grabbing, actual quick.
In the event you want to take the long term view (like us), then that is type of like having a double shot espresso – thrilling for some time, till you remind your self that that is merely an indicator a few second in time, and there are positive to be higher, and much worse, occasions forward.
Whereas the Crypto Concern and Greed Index is a pleasant, simple, self-importance metric that lets us sustain with the market sentiment at a excessive degree every day, it doesn’t consider technical and elementary analytics.
Not monetary recommendation, in order all the time, DYOR!
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