The Fear and Greed Index broke a two-year record
The cryptocurrency Fear and Greed Index measures sentiment towards cryptocurrencies. This index helps crypto-enthusiasts analyze the movements of the crypto market and assess the condition between 0 (fear) and 100 (greed).
A low score signals fear of investors, who therefore sell off assets. A high score, on the contrary, is considered a precursor to buying digital currencies.
Several parameters are used to calculate the Fear and Greed index:
Volatility
Crypto market volume and dynamics
Social media sentiment
Analysis search of queries in Google
As of November 2, the Fear and Greed Index reached the level of 72, the highest value in 2 years. A similar mark was seen in November 2021 when Bitcoin reached an all-time high of $69,000.
