In the six years from 2018 to 2024, the cryptocurrency market has experienced great ups and downs in sentiment. Fear dominates in it, occupying 547% of the time, while greed accounts for only 320%, the remaining 133% are neutral. During this period, the average score on the Fear and Greed Index was 45, indicating that the fear sentiment was close to neutral.
This data shows that the optimistic period of the cryptocurrency market is relatively short, and it is often dominated by panic and negativity. More specifically, the market's expectations are shorter than bullish expectations. In addition, the market sentiment tracked by the Fear & Greed Index has been more bearish than bullish over more years.
Recently, for the first time from November 2023 to February 2024, the Fear and Greed Index in the cryptocurrency market was without "fear" for four consecutive months, which sparked speculation about whether the market will continue to experience bullish sentiment. Until April's Bitcoin halving event, the direction of market sentiment remained uncertain.
Three years ago, between November 2020 and February 2021, the Fear and Greed Index was close to this record high, when Bitcoin crossed the $40,000 mark for the first time. However, as Bitcoin made a small ** before making a new high, the days of greed were shattered by a single day of fear.
During the crypto bear market from 2018 to 2019, the Fear and Greed Indices recorded the second and third highest days in the "fear" range, respectively. In 2018,Of the 334 cryptocurrency markets tracked, 288 days (86.)2%) experienced overwhelming emotions of fear, of which extreme fear (42.)2%) and just fear (44.).0%). This year, the total cryptocurrency market capitalization reached 0After a new peak of $85 trillion, it collapsed due to the bursting of the ICO bubble and fell back to 0 by the end of the year13 trillion dollars.
The crypto bear market in 2023 is still here, but market sentiment seems to be stabilizing. In a year, there are 137 days (375%) market sentiment remained neutral, 165 days (45.).2%) showed greed, and the number of days when fear was significantly reduced reached 63 days (17.).3%）。
There were only 3 days of extreme events in the first quarter of 2023.
Fear without the appearance of extreme greed. This suggests that the process of consolidation in the cryptocurrency market has made the sentiment recorded by the Fear and Greed Index more modest. However, the market is still changing, and only by understanding the form and investing rationally can we go further.
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