Fear Raised Ceiling in Crypto Horror and Greed Index!

The new type of coronavirus (Covid-19), which emerged in Wuhan, China’s Hubei province, alarmed the world. While the virus was transmitted to more than 119 thousand people worldwide, the number of people who died in the epidemic exceeded 4 thousand. Within two weeks, the number of coronavirus (Kovid-19) cases increased 13 times and the number of affected countries 3 times outside China.

The coronavirus, which the whole world is following nervously, has turned the financial markets upside down, while the crypto money markets were negatively affected. Falling below $ 8,000, Bitcoin fell below $ 7,500 after Trump closed the door to EU countries due to coronavirus. The largest cryptocurrency is trading at $ 7,397 at the time of writing.

Index Indicates “Extreme Fear” Signal

Fear has peaked in the “Crypto Fear and Greed Index”, which shows the emotion in the crypto money markets. The index is signaling “Extreme Fear” with a value of 14, which currently shows a very low level. The index signaled “Greed” with a value of 63 in February.

Values ​​close to 100 indicate that the rise in price could continue, while values ​​close to 0 indicate that the decrease could continue.