Bitcoin’s Price Undervalued, As New Fear And Greed Index Data Shows

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Recent data from the Crypto Fear & Greed Index indicates that the cryptocurrency market is experiencing a period of investor fear with a three-month low score of 27 out of 100.

 

By utilizing leading cryptocurrency asset Bitcoin (BTC) as the markets representative, the seasoned technical analysis tool informs cryptocurrency traders worldwide on the current emotional sentiment and bias of the market.

 

This data can be then used — in accordance with other analytical strategies — to determine the potential of a future surge or correction, and ultimately, whether price levels represent an opportunity to buy or sell the market.

 

A lower number out of 100 indicates a shift towards extreme market fear and that BTC may be undervalued, whilst a higher number represents extreme market greed and that prices could be inflated above true value, foreshadowing a future decline.

 

Following Bitcoin’s 10.4% decline to $43,313 this week, the index revealed a score of 27. The last time it printed a figure at or below this level was almost three months ago, on July 26th.