Bitcoin investors haven’t been this scared in months. Fear and greed index shows fear

Bitcoin’s fear and greed index has not been at such a low level for months. It is possible that this is a signal that it is worth buying “cheap” BTC.

Fear and greed index shows market fear

For a long time, when we saw the Bitcoin price fall, the fear and greed index continued to show the greed of the market. Then it fell to neutral levels, and finally visited hellish levels this week. Yes, investors felt fear again!

We saw the “fear” level this week on Tuesday.

Interestingly, it was not only about BTC, but also ETH, DOGE and other cryptocurrencies.

The fear has not gone away. It persists to this day.

What does this tell us?

Looking at the matter historically, we see that it is precisely at such moments – when the market throws up its hands and hides in the corner – that it is worth investing in cryptocurrencies. This means that bitcoin is “cheap”. Of course, this is a relative concept. In other words: fear in the market is a sign that we are at a point where it is worth entering the market.

It’s not just about the mood, which is obviously bad. It’s also worth looking at the fundamentals. There are many indications that Ether ETFs will appear on exchanges in a few days. This means that new capital will flow into the Ethereum market. I have the impression that the “buy the rumor, sell the fact” phenomenon is behind us, so Ether should start to quickly increase in price in response.

But why do you think that ETH ETFs will launch in the coming week? Gary Gensler, head of the Securities and Exchange Commission (SEC), told the media that the S-1 approval process is going “smoothly.” If he says this, you know something is going on.

In addition, the new PCE inflation reading in the US showed that the Fed may start cutting interest rates. earlier than we expected. It turns out that prices are no longer growing at the same rate as before.

So are the coming days, or maybe just hours, the last time to buy relatively cheap coins? It’s very possible. In the long term, it’s hard not to be a bull.

The text does not constitute investment advice.