With the Bitcoin price recovered, there are some indicators that we must check before making any decision to invest. The Fear and Greed index of cryptocurrency is very important.
According to Fear and Greed index site, the Alternative, the index rose from 50 to 54 at Wednesday. Last month, it was 37 for fear, which is in the verge of extreme terror. But it is back to neutral now.
The Fear and Greed upon Bitcoin recovered price
The global environment is seeing a growing fear, but the cryptocurrency market is seeing a little fear gathering fear. The index for cryptocurrency fears and greed rose four points from the previous day to 54.
The industry is looking for reasons for such advances in bitcoin and cryptocurrency in corona virus. Ten days ago, Bitcoin, which was at $7,000, surpassed $8,500 in 27 days. And rose to $9,300 in just two days, in line with the spread of corona virus.
Cryptocurrency trader Ton Bases appeared on YouTube channel Trading Bitcoin. He made remarks to the effect that the corona virus drove the rise in bitcoin prices, bringing fear to the global economy. Another cryptocurrency analyst, Alex Kurger, also said that through last Friday. That corona virus had spurred a drop in bitcoin prices, now leading to a rise in bitcoin prices.
The crash of a U.S. military plane in Afghanistan earlier also believed to have affected the bitcoin market. A U.S. Air Force E-11A plane crashed and killed six U.S. soldiers amid peace talks between the U.S. and the Taliban.
Tensions are running high in Afghanistan, with the Taliban claiming they shot down a U.S. military plane. Given the fact that the bitcoin market has risen whenever such global instability has been apparent so far. The crash of the U.S. military aircraft also seems to contribute to the surge in bitcoin.
