The cryptocurrency market thrives on speculation and as such, is prone to volatility. A year ago today, Bitcoin was $10,000 and in April this year it hit its all-time high of $65,000.
Despite the Bitcoin Fear and Greed Index being at 21 indicating "extreme fear" it presents an opportunity for investors looking to "buy the dip" at a lower fiat price. Panic sellers drive the price lower offering cheaper assets for investors to buy. As more investors compete to get their orders fulfilled, the demand increases, driving the price higher, which eventually pushes the index to the other end of the spectrum: "extreme greed".
Let's buckle up and enjoy the ride!
Bitcoin Fear and Greed Index is 21 - Extreme Fear! What does that mean?
By NaS_ | Learn2Teach | 22 Sep 2021
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NaS_
An emerging technology enthusiast, a cryptocurrency and blockchain technology maximalist with a passion for learning, teaching and growing the community. Views are my own. Not to be taken as financial advice. Invest responsibly.
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