Following the Bitfinex and Tether drama, the Crypto Fear and Greed Index is now in the fear zone.
The Alternative.me Index, created by developers and creators of Strawpoll.com and Thundercheck.org, analyzes market volatility, surveys, and social media to determine the current general sense of crypto dealers. The current grade of 42 means investors are worried that a further decline in the price of Bitcoin is on the horizon.
The index applies to Warren Buffets famous advice that traders should be "horrible when others are greedy and greedy when others are afraid."
According to the website, Extreme Fear may be a sign that investors are too worried. It may be a buying opportunity
Crypto dealers as a whole respond to the news of Bitfinex and Tether claims, with Bitcoinist contributor and analyst Filb Filb telling his 13,000 Twitter followers he has moved to fiat.
Ive Gone to fiat.
Reasonable to assume people will leave Finex, swap USDT -> USD = Downside risk.
Happy to receive a bid or a sustained break in the USD.
Hopefully all FUDs but the name of the game is protection gains, but it's not that superstar traders are working on this. April 26, 2019
Crypto April 19, 2019
Crypto trader and investor Josh Rager tells his 31,000 Twitter follower he believes the Bitfinex situation will leave the market intact.
To calm your nerves, you really don't see the Bitfinex situation ruining the market in the short term
If $ BTC falls to $ 4200 or below, I'll still be a safe buyer to invest  Would love to long / buy Bitcoin in the middle to high $ 4ks and earn $ 6200- $ 6400 before another drop
– Josh Rager 📈 (@Josh_Rager) April 26, 2019
Crypto analyst Willy Woo, who bought his first Bitcoin in 2013, tells his 91,000 Twitter followers to remember how the markets retreated after Mt. Gox.
It is good for the ecosystem for crap to be shaken out. In the short term it is FUD. I don't think the next round will be significantly affected.
Remember Mt Gox? 5% of all coins were stolen, + 90% of the volume was traded there, it was in the height of mania, took only 13mths to detox
– Willy Woo (@woonomic) April 27, 2019
Meanwhile, Saying YouTube's most popular crypto analyst DataDash, he is encouraged to see if Bitcoin can hold over $ 5,000.
"If we can actually stay here a third time, this would actually be quite confident. This has been some of the most bearish news, as we will dive into it in an instant, as we have seen throughout 2019. If this is not enough to push Bitcoin past this site, or to push Bitcoin under $ 5,000, and market [of all cryptocurrencies] under 168 billions of dollars, it will be a triple bottom – a sign of confidence in the markets to move higher. "