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Mood indicator Fear and Greed (“Fear and greed”) on the Bitcoin market again updated the maximum greed - the indicator reached 69.
To compile the index, analysts usedata such as the volatility of the first cryptocurrency and messages on social networks. The indicator scale is divided into five categories - from extreme fear to extreme greed.
Typically, when the indicator is in the greed zone, you should buy BTC with caution. The best time to buy is when the index is below 25. Now the indicator has reached 69.
At the end of March, this figure was 68, which is far from the limit. On the evening of Monday, April 17, Bitcoin was trading at $29,810, showing a daily decline of 0.3%.
Previously, analysts of the Korean company CryptoQuantnamed the reasons for the fall in the market price of Bitcoin below the psychologically important level of $30,000, based on the ratio of two indicators of the futures market: open interest rates and funding rates.
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