- The crypto Fear & Greed index is giving indications of bullish directions
The crypto fear & greed index is finally moving in a positive direction, after reaching extreme fear levels during the sharp crypto crash in March. Specifically, the index has risen from a low of 8 in March, which indicates widespread selling and extreme fear, to 19 last week which is still in the extreme fear category but less severe, to 28 now, which is just fear. A measure of how bullish or bearish the crypto market is, this index is a popular method for sensing trends.
In other words, the fear and panic selling across the crypto market following the March crypto crash are significantly slowing, and this could perhaps indicate the formation of a bullish trend. In-fact, the crypto fear & greed index seems to be a lagging indicator confirming the start of a bullish trend, since the price of Bitcoin is already up 100% from lows of USD 3,850 in the middle of March.
As the block halving approaches, with the halving expected on 12 May, it is likely that the crypto markets will rally further, at which point the fear & greed index may move towards greed and then extreme greed as panic buying replaces the previous panic selling.
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