The well-known indicator for bitcoin “Fear and Greed” has left the “fear” zone for the first time in the last few months. This was facilitated by a noticeable increase in the rate of the first cryptocurrency.
Yesterday, January 15, the Fear and Greed index reached 52, which is a neutral indicator that reflects the mood in the market. On June 9, 2022, the index hit an all-time low of 9 and has since hovered between 20 and 30, in line with “fear” in the market.
The index is driven by market sentiment and data is obtained from a variety of sources. The indicator also takes into account the current volatility of bitcoin, trading volumes and messages on social networks. The indicator scale is divided into five categories – from extreme fear to extreme greed. At the same time, the last state has not been recorded since October 2021.
Note that since the beginning of the year, the rate of the first cryptocurrency has grown by 28%. Now bitcoin is trading above $21,000, thus, the cryptocurrency market won back the losses after the collapse of the FTX exchange. At the same time, some indicators, such as RSI, show maximum values over the past 4 years.
Recall that yesterday another recalculation of the complexity of mining took place. The indicator grew by 10% and reached a record value of 37 terahashes.
