Let's begin with the Fear and Greed Index
You know the financial market is ruled by sentiments a lot, and the crypto market is no exception. The Fear and Greed Index shows the overall sentiment/emotional state of investors in the crypto market.
The Fear and Greed Index is on a scale of 0-100 with zero meaning extreme fear and 100 meaning extreme greed. Fear denotes that crypto traders are scared and do not like/trust the direction of the market and may likely sell off assets thereby driving the prices down.
Greed is the opposite, in which market sentiment is positive and crypto traders are optimistic, and believe the market and the whole crypto space will benefit them, so they invest more, and thereby drive the price of assets high.
What is the current situation of the market, let's head quickly to Alternative.me to answer that question:
From the Infographic above, it is clear that the crypto market is experiencing a "Fear" stage at an FGI of 30. The fear is not extreme and is well-above average (though 10 points above extreme).
This data shows a bit of pessimism among crypto traders, but not as pessimistic as they were last month. Though, pessimism is rising as just last week the FGI was at 32.
What this Means for You
As long as the Fear and Greed Index doesn't improve, it means prices of crypto assets will stay low till the crypto market improves.
However, this is not the lowest or the scariest stage of crypto development.
Going back to June this year, the crypto market witnessed one of the most pessimism, with FGI of 6. Thus, with the current market sentiment, there is still great hope.
Will hope things improve so that HBI and Hive can bounce back to normal.
I have been off for some time, trying to study more about Hive and trying to find new things to try, one of the new tries I want to make is Leofinance blogging, thus, my first post on Leo.
