Crypto's 'Fear and Greed Index' at 70: Sentiment Improves, Greed Phase Continues

IconCNT16 May, 2024

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Crypto's 'Fear and Greed Index' at 70: Sentiment Improves, Greed Phase Continues

Cryptocurrency data provider Alternative's self-calculated 'Fear and Greed Index' recorded 70, up 6 points from the previous day. The index indicates extreme fear in the market when it is close to 0, and extreme optimism when it is close to 100. The fear greed index is calculated based on volatility (25%), volume (25%), SNS mentions (15%), surveys (15%), Bitcoin market cap share (10%), and Google search volume (10%). Sentiment in the crypto market has improved, and the 'greed' phase continues. This is a sign that investors are becoming more confident in the long-term prospects of digital assets. However, it is important to note that the 'Fear and Greed Index' is only one data point, and it should not be used as the sole basis for making investment decisions. Previously on 15 May 2024, Cryptocurrency data provider Alternative's self-calculated 'Fear and Greed Index' recorded 70, up 6 points from the previous day. Sentiment improved, indicating that investors are becoming more confident in the long-term prospects of digital assets.

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