Negative feelings about bitcoin are increasing and fear
Bitcoin staying under the $50K stage made sentiment towards Bitcoin very frightening.
Cryptocurrency Fear and Greed Index is a complex indicator that tracks volatility, crypto buying and selling volume, social media discussions, market dominance and Google trends, as properly as showing whether or not the public is confident or pessimistic about this or that asset.
A week of intense fear:
On December 6, 2021, the Bitcoin “Fear and Greed” indicator touched the 16/100 level for the first time in nearly five months.
Then, it rebounded a little, but it settled yesterday, Saturday, at this very low level, to rebound once more at the time of writing this article to the level of 27 after it used to be at 16.
As such, Bitcoin failed to leave the waters of "fear" for an entire week.
It only took 28 days for the index to fall from an eight-month high of 84/100.
In the brief term, analysts are sure that the bitcoin concern and greed index has slipped to very low levels due to bitcoin's failure to stabilize above $50,000.
The closing time the Bitcoin fear and greed index was so low was once when the crypto king was once trading at less than $30,000 in late July 2021, after the huge drop in the 2d quarter of 2021.
Is ETH/BTC volatility inevitable?
The internet worth of the cryptocurrency market fell under $2.25 trillion for the first time on account that October 15.
On November 9-10, the crypto market managed to stay above $3 trillion for two days, an unparalleled record.
Bitcoin dominance, a ratio between Bitcoin's market cap and the rest of the cryptocurrency market, is inches close to a seven-month low.
Although it is also almost stable, Ethereum does barely higher than Bitcoin.
The ETH/BTC ratio recorded a dramatic upward jostle closer to its best stage in 44 months.
Typically, this combination of traits suggests altcoin season, a duration when the predominant cryptocurrencies do much higher than the one with the orange logo.
By @natalia-irish
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It is the perfect time to get into economic and market studies and learn how finance works. Once this is understood I believe fear will become a thing of the past. The only way for any economy to go to zero is that a new economy is coming into existence and growing.
Look how long it is taking the federal reserve note to die only to be replaced by crypto.
I'm lovin' it and no I'm not a McDonald's fan.