Fickle Bitcoin Market Surges From Fear To Greed In A Flash

The Bitcoin fear and greed index has started to quickly change to extreme greed as the crypto continues to rally up. Bitcoin Fear And Greed Needle Starts Pointing At Extreme Greed As per the latest weekly report from Arcane Research, the fear and greed index quickly turned to extreme greed values last week. The “fear and greed index” is a Bitcoin indicator that shows the general crypto market sentiment at the time. The metric uses a numerical scale of one to hundred for displaying the different sentiments. Values close to zero fall under the “extreme fear” category while values at the other end imply “extreme greed.” When the indicator shows neither too large, nor too low values, the sentiment falls under either “fear” or “greed” depending on which side around 50 the value is. Now, here is a chart that shows how the indicator’s value has changed over the years for Bitcoin: Looks like the crypto market has quickly turned greedy | Source: The Arcane Research Weekly Update - Week 40 As the above graph shows, the sentiment had turned greedy last week after a fearful September, and the values are now entering into the extreme greed category. While the month of September had some moves up, it also had several price crashes, and that’s why the sentiment was that of fear for the most part. Related Reading | TA: Ethereum Follows Bitcoin, Why ETH Could Sur...