Crypto investors exhibit ‘extreme fear,’ similar to 2018 crash situation
March 30, 2020, 7:05AM EDT
1 min read
The current sentiment of the cryptocurrency market is exhibiting “extreme fear,” according to Crypto Fear & Greed Index by Alternative.me.
The index has today hit a low of 10, a level last seen in August 2019 as well as in December 2018, when bitcoin crashed to around $3,000. Bitcoin is currently trading at about $6,300.
“Extreme fear can be a sign that investors are too worried. That could be a buying opportunity,” said Alternative.me.
The firm calculates the value of the Crypto Fear & Greed Index daily, on a scale of 0 to 100. Near-zero levels indicate “extreme fear,” while near-100 levels suggest “extreme greed.”
Alternative.me takes into consideration five factors for calculating the index: Volatility (weight: 25%), Market Momentum/Volume (25%), Social Media (15%), Surveys (15%), Dominance (10%) and Trends (10%).
Iceland-headquartered bitcoin mining firm Genesis Digital Assets has raised $431 million in a strategic funding round led by investment firm Paradigm. Genesis Digital Assets said in an announcement on Tuesday that other investors in the round included NYDIG, Stoneridge, FTX, Ribbit, Electric Capital, Skybridge, and Kingsway Capital. Kingsway also invested $125 million in a previous […]