[ Crypto market behavior is very emotional. When the market is rising people tend to be greedy which causes FOMO (Fear of Losing). Also, people often sell their coins with the irrational reaction of seeing red numbers. We try to save you from your own emotional overreactions with our Fear and Greed Index. There are two simple assumptions:

Extreme fear can be a sign that investors are very worried. This could be a buying opportunity.

When investors become very greedy, it means that it is time for a correction in the market.

Therefore, we analyze the current sentiment of the Bitcoin market and compress the numbers from 0 to 100 into a simple meter. Zero means 'Extreme Fear' and 100 means 'Extreme Greed'. ]

The above description is taken from https://alternative.me/crypto/. In fact, although I am debating how realistic it is, I sometimes examine it. The page stating that data was collected from five sources has stopped collecting survey data for now. Are five sources sufficient to determine this ratio?

If the aim is to measure the emotional response of the crypto market, how reliable are the sources from which the data is collected?

I do not think that selling or buying the product in hand is a very decisive factor in terms of fear and greed. As a result, while collecting data, only the movements in the crypto market are examined, it would be healthier to collect data indirectly related to crypto, but it may not be possible for now. I think that in time, when everyone in the crypto world is reached, healthier data will emerge. Even though it's a well thought out application, I think it's too early for that for now...

As a result, a person becomes responsible for his own emotions. When I examine it daily, after a while I realize that the data does not reflect me. Because after a while, habits take the place of emotions, fear gives way to acceptance, greed becomes commonplace, and in this case, all data becomes garbage.

What I have stated here is purely my own perspective and comments.