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NewsBTC 2022-09-02 20:00:50

Crypto Market Remains Extremely Fearful As Bitcoin Struggles At $20,000

The crypto market has found itself at odds since the price of bitcoin had fallen to $20,000. This remains an important technical level for the digital asset because it is right above its previous cycle peak. As such, investors across the space watch with bated breaths to see if bitcoin will be able to hold this level. This has, in turn, led to a decline in investor sentiment during this time, causing the Fear & Greed Index to plunge low. Crypto Index Sits At 25 The Crypto Fear & Greed Index is an indicator that draws from a number of metrics to give an aggregate score to represent how investors are feeling toward the market. It ranks these across four categories, and presently, investor sentiment falls in the lowest of these. Related Reading: IOG Says Cardano Vasil Hard Fork Is Almost Here, But What Is ADA Doing? In its most recent update, the Fear & Greed index places the market in the extreme fear territory with a score of 25. This is after the index had hit its lowest of 20 in more than a month, signifying some rise in positive sentiment in the last day. However, the present score is not so good for the crypto market. With a sentiment like this, investors are wary of putting any money into the market, causing panic and leaving the playing ground to the sellers. This works to push the prices of digital assets in the space even further down. Bitcoin Struggles With $20,000 The $20,000 mark has been one of the harde...

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