If the trend of the last few days is a bit positive, the Fear and Saint indicator is still very low today. While some hope for better days, others believe the indicator could continue its infernal fall. A condition that could result from an even steeper fall in Bitcoin. $ 15,000? $ 13,000? Obviously we are not there yet.
When extreme fear becomes the norm
Last week, Fear and Saint Crypto Index fell to 6/100. A level that the indicator has not reached since the beginning of the health crisis. From more than a month, So Extreme Fear is now commonplaceas suggested in the graph below which shows the change in this market sentiment indicator over the last 30 days:
So, from May 25, the indicator never exceeded the 17/100 threshold. A trend that can be explained especially by the consecutive fall in the price of Bitcoin for 9 weeks. On today’s session, the indicator is at 11/100. The increase is small for a few days.
Good to know : Whether on the stock market or the digital asset market, “Fear and Sint” is an indicator of market sentiment. It is therefore a tool that seeks to map the psychology of the market, a very important aspect of understanding security fluctuations.
Bitcoin price: $ 13,000 or technical rebound?
Recently, we shared with you Peter Brandt’s pessimistic forecast regarding the price of Bitcoin. The American money changer then predicted return to the threshold of 13,000 dollars unless Bitcoin quickly breaks the $ 32,000 level. As of this writing, the mother of cryptocurrencies is trading for $ 20,568, very small increase over 24 hours (+ 0.12%). Thus this range of around $ 20,000 over the past week could give way to a bullish reversal or a stronger fall to the $ 13,000 level.
For others, this price level is still close to $ 20,000 opportunity purchase around mother cryptocurrencies. These believe that the beginner is involved or is close enough. Either way, the Fear & Greed indicator will only go up after a bullish rally around Bitcoin.
Risk of capital loss.