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Extreme Fear Returns As Bitcoin Stalls Below $50,000

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Sun, 12/05/2021 - 18:16
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Alex Dovbnya
Bitcoin traders succumb to “extreme fear” following a massive price crash
Extreme Fear Returns As Bitcoin Stalls Below $50,000
Cover image via stock.adobe.com

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The Crypto Fear and Greed Index has once again dipped into the “extreme fear” territory.

The index, which is considered to be a handy tool for measuring market sentiment, has dropped to just 18 points, the lowest level since July, according to the most recent daily update.  

Fear
Image by alternative.me

Bitcoin plunged sharply lower on Dec. 4, revisiting the $42,000 level for the first time since early October.

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The largest cryptocurrency has so far failed to regain the $50,000 level, currently trading at $49,230 on the Bitstamp exchange.

On Nov. 9, the index reached a local peak of 84 points, which happened just one day before Bitcoin reached its current all-time high above the $69,000 level

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.