The crypto market sentiment had been on the rise at the start of August, but as the month draws to a close, a market crash has dragged it back to August levels. The Fear & Greed Index had previously reached a local peak of 42 when the price of bitcoin had recovered to $25,000. However, since then, the downtrend has been on a decline back into the Fear territory. Fear & Greed Index At Mostly Lows The Crypto Fear & Greed Index has declined to a score of 25. This puts it dangerously close to falling back into the Extreme Fear territory. Now, the reason that market sentiment is so important to gauge is it can tell exactly how investors are feeling towards the market as a whole. Related Reading: Bearish Indicator: Bitcoin Retail Volumes Show Weakness In Rally Take a score below 20 on the Fear & Greed Index. This means that the market is in extreme fear. At times like these, investors are extremely wary about the market, and there is not a lot of money flowing. This inadvertently leads to lower prices because there is not enough demand to meet supply. Total market cap above $1 trillion | Source: Crypto Total Market Cap on TradingView.com Since the score is currently at 25 when it was 28 the previous day, it means the market is getting more fearful with each passing day. The last time it was this low was back at the beginning of July, and one thing that characterized the beginning of July was the low market price...
XRP Price Prediction For 24 November
