To make a better trading decision, analytics have created an index known as Crypto Greed and Fear Index. This index takes into account multiple variables such as Volume, momentum, social media, and trends. This is done to know about the sentiments of the people. This index rates the answer out of 100.
It had been seen that whenever the price of BTC decreased below $40k we saw that the fear and greed index would shift towards fear and we would see a lower rating out of 100 and similarly we would see a higher ranking when it climbed.
In the last month, the index was showing a value of 20/100 which showed extreme fear. In the past week again, the index was around 27 when there was a slight bounce in the price. Now that the BTC has dropped even lower than $30k and touched $26k. The index has dropped to 12/100.
In the past BTC has touched an all-time high around the price of $69k and ever since we saw the price touch that level, the market fell down hard. Ever since then, the market hasn’t recovered.
