Cryptocurrency markets are busy hurt the wounds of the sharp decline seen on March 12 for more than a month. The Crypto Horror and Greed Index, which is used to measure market sentiment, has been in the “extreme fear” range since March 9. In other words, the confidence in the market has been at its lowest levels for 5 weeks and this has been recorded as the longest period since February 2018 when the index was created. The longest period of “extreme fear” ever occurred during November and December of 2018. The cryptocurrency market at that time did not come out of the “extreme fear” levels for 4.5 weeks. The developer of the index, Alternative.me, states that the index is in a state of “extreme fear” may be a sign of a buying opportunity. On the contrary, the feeling of “greed” means that a correction may occur soon. When calculating the index, the following factors are taken into account: Volatility (25% weight), Market Momentum / Volume (25% weight), Social Media (15% weight), Research (15% weight), Dominance (10% weight), Trends (10% weight). Bitcoin is trading at $ 7125 when the news goes live.
