With bitcoin’s price continuing to lose value, the popular Fear and Greed Index has dropped into an extreme fear territory once again. In fact, the metric hasn’t been in such a poor state since late January, when the asset’s price dropped to $33,000.
Fear Takes Over
Ever since the end of March, the landscape around the primary cryptocurrency has been rather bearish. Bitcoin was close to $50,000 at that point but failed and started to lose value gradually. In April alone, BTC dumped by more than $10,000 and closed the month below $40,000.
May is not going well either so far. Bitcoin jumped to $40,000 following the latest FOMC meeting, in which the Fed said it will raise interest rates by 50 basis points instead of 75, but that was short-lived.
Soon after, the cryptocurrency plummeted below $36,000, and the situation worsened in the past 24 hours when it dumped to its lowest price point since late January of around $34,000.
Somewhat expectedly, this violent price crash resulted in
We współpracy z: https://cryptopotato.com/bitcoin-fear-and-greed-index-deep-in-extreme-fear-as-btc-dumped-to-34k/
