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Home Cryptocurrency news

Crypto Market Reaches Longest Stretch of Extreme Fear In Over A Year

Tony Spilotro by Tony Spilotro
11 months ago
in Cryptocurrency news, Bitcoin
Reading Time: 3min read
crypto fear and greed index

sleepless young man lying in bed stressed and scared suffering nightmare and horror bad dream grabbing duvet frightened and paranoid in sleeping disorder and resting problem lifestyle concept

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Bitcoin and the rest of the crypto market has since staged a strong recovery following the massive, record-breaking crash caused by coronavirus fears spilling into financial markets earlier this month.

But despite crypto prices continuing to climb, the Fear and Greed Index shows that sentiment is still in the gutter. In fact, the sentiment measuring index has now reached the longest stretch of extreme fear in the cryptocurrency market since the tool was first launched.

Extreme Fear Continues to Crush Markets Amidst Coronavirus Outbreak

In early March, as the coronavirus was officially dubbed a pandemic and first began to shut down the global economy, the stock market, precious metals, and cryptocurrencies all suffered an extreme selloff.

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The stock market saw the largest losses since 1987, silver had its value set back decades, and Bitcoin and other cryptocurrencies all fell by 40% or more.

Related Reading | How Fear and Greed in the Crypto Market Can Lead To Incredible Profit 

The entire world fell into a state of panic almost overnight, and the prices of assets everywhere reflected the fearful sentiment.

Following the selloff, the cryptocurrency market Fear and Greed Index, fell to lows, indicating that investor sentiment was in extreme fear.

Crypto Fear & Greed Index on Feb 21, 2019

Many old adages and quotes reminder investors that when things get scariest, it’s often the time to buy. Baron Rothschild and the Oracle of Omaha himself, Warren Buffett have coined such phrases.

It’s clear someone out there was buying the extreme fear in the market – blood in the streets – as Bitcoin price rallied from a low of $3,800 to over $7,000 before a pullback.

But the first-ever crypto-asset nearly doubling in price following the recent catastrophic collapse has done very little to ease the minds of crypto investors who are still in a state of panic.

Crypto Fear and Greed Index Reaches Longest Stretch of Extreme Sentiment Yet

According to the Crypto Fear and Greed Index, not only is the market still in extreme fear, but it’s now spent the longest stretch of time at such peak emotion.

Related Reading | Despite Cryptocurrency Market Recovery, Sentiment Is Still Extremely Fearful 

Data shows that although the market reached a level of fear lower than current levels back in August 2019, the fear was short-lived and sentiment bounced right back to greed.

The current bout of extreme fear has now lasted nearly three full weeks, and with the coronavirus and coming recession causing the market more fear than ever before, there’s a chance that the extreme fear may linger for the foreseeable future.

The fear is even more extreme than the period of time when Bitcoin traded between $3,000 and $4,000 at the end of 2018.

During that time, fear hung around longer than what’s taken place this time around, however, fear didn’t get as extreme as it is right now, and the current wave of fear has only truly just begun.

Featured image from Shutterstock
Tags: bitcoinbtcusdcryptocrypto fear and greed indexfear and greed indexsentiment
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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