Crypto 'Fear and Greed index' Shows Risk Reduction with a Score of 45
CryptoNewsTerminal Staff17 Sep, 2024
Crypto 'Fear and Greed index' Shows Risk Reduction with a Score of 45
The "Fear & Greed Index" by crypto data provider Alternative.me saw a 12-point increase from the previous day, reaching 45. This indicates an improvement in risk sentiment, but the market remains in a state of fear. The index ranges from 0 to 100, with 0 representing extreme fear and 100 representing extreme greed. The current reading of 45 suggests that the market is still fearful but not as much as it was before. The index is calculated based on six factors: volatility, trading volume, social media mentions, surveys, Bitcoin dominance, and Google search volume. Each factor is weighted equally, and the index is updated daily. The rise in the index suggests that investors are becoming more confident in the crypto market. However, it is important to note that the index is only a sentiment indicator and should not be used as the sole basis for making investment decisions.
