& # 39; Extreme & # 39; Bitcoin Warning Spooks Crypto Market
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Bitcoin and cryptocurrency traders and investors look nervously at prices after market sentiment seemed to take a turn for the worse and dropped to the lowest level since December 2018.
bitcoin price has hovered around $ 10,000 per bitcoin for a few weeks with many hopes bitcoin became a safe haven from turbulent markets.
However, bitcoin and crypto investors are concerned that Crypto Fear and Greed Index shows "extreme fear", and earlier this week fell to a 244-day low last seen when bitcoin crashed to around $ 3000.
![bitcoin, bitcoin price, image [19659004] Bitcoin price has been treading water for months as traders and investors wait to see how global regulators will respond to Facebook's planned libra cryptocurrency and bitcoin competitor. </p>
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<p> The fear index hit e all the time hi gh in late June when the excitement surrounding Facebook's plans for its bitcoin rival reached fever pitch, but has since dived as regulators signal their dissatisfaction with the social media giant. </p>
<p> "The current regulatory roadblock to Facebook's plans for its digital token has dimmed investor sentiment for cryptocurrencies," said Christel Quek, chief commercial officer at Bolt Global, a provider of cryptocurrency wallets and entertainment companies. </p>
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The fear index is currently showing a reading of 20, but earlier this week it dropped to 11 after falling sharply in August.
Since the index hit its lowest year to date, the bitcoin price has fallen another 2%, while the total cryptocurrency market has seen more than $ 30 billion drought from it over the past week.
Meanwhile, the bitcoin price fell below the psychological $ 10,000 per bitcoin mark this week, which further worries traders and investors.
Some in the bitcoin and cryptocurrency industry pointed out that the broader cryptocurrency market has gone down along with the bitcoin price.
"Bitcoin and major cryptocurrencies including litecoin, ethereum and Ripples XRP have gone down this week, weighed down by worries about a declining economy," Quek added.
The crypto fear index has not been so low since bitcoin traded just over $ 3000 per bitcoin.
Alternative.me
The fear index, created by website and software comparison company Alternative.me, calculates the index's value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance and trends. Zero means "extreme fear," while 100 means "extreme greed."
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Bitcoin and cryptocurrency traders and investors look nervously at prices after market sentiment seemed to take a turn for the worse, falling to its lowest level since December 2018.
Bitcoin price has hovered around 10 $ 000 per bitcoin for a few weeks, with many hoping bitcoin to become a safe haven from turbulent markets.
However, Bitcoin and crypto investors are worried about crypto Fear and greed index shows "extreme fear", and earlier this week fell to a 244-day low last seen when bitcoin crashed to around $ 3000.
bitcoin price has been treading water for months as traders and investors wait to see how global regulators will react to Facebook's scheduled libra cryptocurrency and bitcoin competitor.
Getty Images
The fear index hit a high time at the end of June as excitement around Facebook brought plans for its bitcoin rival reached fever pitch, but has since dived as regulators signal their dissatisfaction with the social media giant.
"The current regulatory roadblock to Facebook's plans for its digital token has dampened investor sentiment for cryptocurrency," said Christel Quek, chief commercial officer at Bolt Global, a provider of cryptocurrency wallets and entertainment companies.
The Fear Index is currently showing a reading of 20, but earlier this week it dropped to 11 after falling sharply in August.
Since the index hit its lowest year to date, the bitcoin price has fallen another 2%, while the total cryptocurrency market has seen more than $ 30 billion wiped out from it in the past week.
Meanwhile, the bitcoin price fell below the psychological $ 10,000 per bitcoin mark this week, further worrying traders and investors.
Some in the bitcoin and cryptocurrency industry pointed out that the broader cryptocurrency market has gone down along with the bitcoin price.
"Bitcoin and major cryptocurrencies including litecoin, ethereum and Ripples XRP have gone down [this week] weighed down by worries from a declining economy," Quek added.
The crypto fear index has not been so low since bitcoin traded just over $ 3000 per bitcoin.
Alternative.me
The fear index, created by website and software comparison company Alternative.me, calculates the index's value daily on a scale of 0 to 100 using volatility, market volume, social media, survey, dominance and trends. Zero means "extreme fear," while 100 means "extreme greed."
