The fear and greed index towards cryptocurrency reaches its lowest level in 5 months
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Answer The fear and greed index towards cryptocurrency reaches its lowest level in 5 months
Yesterday, January 8, 2022, the price of Bitcoin dropped to the level of $40,517 after 1:00 PM UTC.
At the same time, the fear and greed index moved toward feelings of “extreme fear.”
The index score was 10.
The last time a score so low was recorded was 171 days ago, on July 21, 2021.
The current sentiment at the time of the article shows intense concerns, with the price of Bitcoin still 39% below its all-time high.
The crypto market shed billions in value last week and bitcoin has lost nearly 10% over the past seven days.
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On Saturday January 8, 2022, the price of Bitcoin reached its lowest level since the end of September 2021, recording its lowest level at $40,517.
The global Bitcoin trading volume reached around $28.1 billion in the last 24 hours.
Currently, the Fear and Greed Index is still in the area of extreme fear despite the rise of Bitcoin from $40 thousand to $41,000, as the Fear and Greed Index is pointing to the 23 mark at the time of writing this article:
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