As I’m sure you’ve seen, the Bitcoin price went up again yesterday and broke out over $6,000. However, despite rising crypto prices, the Fear and Greed Index shows that sentiment is still in the gutter. The index shows that it has now reached the longest period of extreme anxiety in the crypto market since the tool was first launched.

The stock market saw the biggest losses since 1987, the silver price went back ten years and Bitcoin (BTC) and other cryptocurrencies all fell by 40% or more. This caused the whole world to panic almost overnight. After the sell-out, the Fear and Greed Index fell to the bottom, indicating that investor sentiment was extremely fear.

bitcoin fear & Greed index

The longest period of fear ever

According to the Crypto Fear and Greed Index, not only is the market still in extreme fear, but it has now spent the longest time in this emotion.

Data shows that although in August 2019 the market reached a lower fear level than the current one, the fear was short-lived and sentiment returned to greed.

The current period of extreme anxiety has now lasted almost three full weeks, and with the coronavirus and the upcoming recession that could cause the market to be more anxious than ever before, the extreme anxiety is likely to linger in the near future.