Greedy investors are not deterred even by a rollback of the bitcoin rate



Greedy investors are not deterred even by a rollback of the bitcoin rate

Greedy investors are not deterred even by a rollback of the bitcoin rate

  • The Fear and Greed Index remains in the extreme greed zone for the third month in a row

  • At the same time, investors ignore even large-scale rollbacks of the MTC rate

  • Both prices and investor confidence are fueled by bullish developments in the crypto industry

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The “Fear and Greed Index” of the BTC continues to hold in the zone of “extreme greed”, even despite the current bitcoin correction.

Greedy investors are not deterred even by a rollback of the bitcoin rate

A popular indicator that measures the current sentiment in the cryptocurrency market has dug in at levels of “extreme greed” since the beginning of November. At the same time, investors are not embarrassed even by the current rollback of the bitcoin rate..

“Give pills for greed, but more!”

According to the analytical resource, the cryptocurrency “fear and greed index” for the third month in a row, since the beginning of November, does not leave the zone of “extreme greed”.

Designed to measure market sentiment, this indicator takes into account many factors such as price volatility, trading volumes, social media sentiment, Google Trends data, and BTC’s dominance in the crypto market..

It is noteworthy that even the current pullback of the bitcoin price could not undermine investor enthusiasm for the world’s main cryptocurrency. Yesterday, January 20, the BTC rate rolled back from the previous day’s high of $ 37,600 and tested the $ 33,000 mark. However, the index remained confidently at around 78 out of 100, still holding in the zone of “extreme greed”.

Bitcoin Fear and Greed Index is 78 – Extreme Greed

– Bitcoin Fear and Greed Index (@BitcoinFear) January 20, 2021

Today bitcoin continued its correction and at the moment tried to storm the next round level of $ 32,000. Meanwhile, today the index value is still 75, which also corresponds to “extreme greed”.

Greedy investors are not deterred even by a rollback of the bitcoin rate

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A similar situation was already observed earlier, on January 11, when bitcoin suffered heavy losses, developing a pullback from the recently reached historical maximum on the way to $ 42,000. The exchange rate dipped within the day under the $ 32,000 mark. However, even a price rollback of about 25% could not drive out an index from the “extreme greed” area. As of Jan 12, it stubbornly showed 84/100.

How long will greed last?

This market optimism is not surprising in light of the explosive growth in attention to cryptocurrencies from large institutional investors. Many believe that it was he who helped bitcoin tirelessly update its historical highs in recent times..

Companies such as Microstrategy and Grayscale, they are praised by financial heavyweights such as Deutsche Bank and Jp morgan.

However, although the index of fear and greed remains in the zone of “extreme greed” for a record 2.5 months, over the last week one can note the beginning of a decline in the indicator..

Throughout December and early January, its values ​​almost constantly exceeded 90. However, after the aforementioned bitcoin correction by 25%, the index no longer rose above 90.

At the end of January 20, the value of the index dropped to 78, equal to the result of January 13, which was the lowest since November 5. Perhaps the market euphoria is beginning to dissipate.

Greedy investors are not deterred even by a rollback of the bitcoin rate

However, not everyone agrees with this. A number of buyers continue to use Bitcoin’s drawdown as a profitable opportunity to replenish their BTC holdings. So, on January 18, the BTC company made a purchase of another 16,244 BTC.

See also: Bitcoin and Ethereum are firmly on their feet, despite the price drawdown


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