Altcoin News: Crypto-Investors Fear & Greed Index Hit a Record Low

August 22, 2019, by Marko Vidrih on ALTCOIN MAGAZINE

The cryptocurrency investors Fear & Greed Index this Thursday reached 5 points and is in the “extreme fear” zone.

Image credit: alternative.me

This is the lowest value recorded in the entire history of the existence of the instrument, which was created in February 2018. The index takes into account such metrics as volatility, momentum, moods in social networks and trends.

Image credit: alternative.me

In the explanation of the instrument, its creators indicate that “extreme fear” may indicate that investors are too worried, which in turn can be a good opportunity to buy.

Bitcoin today continues to trade near the $10,000 level after the failed breakthrough of $11,000 and the subsequent decline on Wednesday.

Image credit: TradingView

A number of analysts, meanwhile, continue to point to the possibility of falling to support $9,000 or lower. Others, on the contrary, are wondering if the market will go in the direction that everyone points to.

Although the Fear & Greed Index remains, rather, a conditionally emotional reflection of what is happening, the cryptocurrency segment knows other, no less controversial indicators that helped traders successfully predict market movements. So, it was previously noted that trading against signals shared by CNBC with its viewers often brings positive results.

Author: Marko Vidrih