The previous few days within the crypto market have been wild to say the least. With solely two different cryptocurrencies pumping, Bitcoin (BTC) buying and selling on the key $104,500 degree flirting with an all-time excessive breakout, and each different asset dumping two days in a row by double-digit percentages, wild is the softest anybody can name this unprecedented chain of occasions.
Fascinating, then, what the mightiest consider all this. For one of many key figures within the cryptocurrency market, former CEO of the world’s largest alternate Binance, Changpeng Zhao, nothing ends right here and the worry of lacking out is simply starting.
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What’s attention-grabbing is that simply 4 days in the past, Zhao additionally revealed a submit devoted to this very feeling on the sting of greed and worry. On the time, CZ stated that it is okay to really feel this manner, however the true distinction is to behave responsibly.
Just greed, nothing excessive
If one had been to attempt to measure FOMO as an indicator, maybe the easiest way could be a Concern and Greed Index. This index ranges from 0 to 100, with decrease values indicating excessive worry and better values indicating excessive greed.
The one from CoinMarketCap exhibits that the market is presently in greed mode, however at 64 out of 100 it’s not excessive but.
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And it isn’t that excessive greed is uncommon, now we have seen the market tilt towards it many instances in current weeks and months. The final such mania was in early December, for instance, and after that the market went right into a month-long correction, with Bitcoin buying and selling beneath six figures on a regular basis.
Evidently the market is pretty balanced in the meanwhile, though many could also be experiencing FOMO wanting on the efficiency of a few of the “new shiny cash.”
