The Crypto Greed and Fear Index has plunged into ”extreme fear” territory as Bitcoin plummets.
The index, compiled by Alternative.me, dropped to 11, from 18 yesterday and 30 just last month, tracking Bitcoin’s steep losses.
The world’s best-known cryptocurrency has lost 15% in the past five days, is off 21.2% over the past month and has plunged 29.4% so far this year. If you invested in Bitcoin a year ago, you’ve lost 42% of your money. Bitcoin was trading at $33,684.80 at 9am GMT.
Alternative.me says a reading of ”extreme fear” may be a sign that investors are ”too worried,” suggesting a possible buying opportunity.