After more than a month, Bitcoin has been improves its reputation and stepped out of the zone called “Extreme Fear”. The Crypto Fear & Greed Index, which owns alternative.me, can detect the mood in the market, analyzes emotions and feelings from multiple sources every day, and the result is a simple number that determines the current status.
Currently, the mood in the BTC market is already improving and we are going through the “Fear” zone and the score is more favorable. Bitcoin is trying to break through $ 8,000 today, maximum was $ 7966 (binance) and another try is possible in the near future.
If BTC manages to go through this strong resistance, it is possible that the so-called FOMO effect will occur and investors will suppress it to $ 10,000, then the monitored index will also go out of the area “Fear”.
In trading, it is most attractive for experienced investors to buy just when bitcoins have the status “Extreme Fear” and “Fear”, they will take advantage of the situation and the sellers who call themselves “Weak Hands”.