Crypto sentiment rebounds after 18 days of ‘extreme fear’

Crypto investors have been watching the price charts with trembling knees in recent weeks. Due to the enormous correction, sentiment has been at its worst in years. There was a feeling of ‘extreme fear’ for eighteen days, but sentiment has now finally improved slightly.

November surprises crypto investors

November is actually one of the best months of the year for Bitcoin (BTC). Now the largest cryptocurrency appears to be heading for its worst November in seven years and this is clearly reflected in the Fear & Greed Index.

The sentiment meter has pointed to “extreme fear” for more than two weeks. That is the lowest setting and it is self-explanatory what it means. Many people have sold their coins out of panic because they fear further declines.

Confidence in the market has completely disappeared, but now seems to be slowly but surely coming back. With a current score of 28, the index has now moved one step to the ‘anxiety’ category.

With scores of 24 or lower we can speak of extreme anxiety. On November 15 and 16, the lowest level of 10 was reached. November 15 was also the day that the Bitcoin price reached its lowest point of $80,600. That was 36 percent lower than the record of $126,200 set on October 6.

BTC recovers 15%

While most people buy when prices break new records, for fear of missing out, the best buying moments have often arisen in times of extreme fear in the past. But hardly anyone sees that at that moment, because everyone is mainly concerned with not losing any further.

Since last week’s bottom, Bitcoin has already recovered by more than 15 percent. Yesterday the $93,000 was tapped again, but the rate was strongly rejected here.

The only question now is whether this is the start of a larger recovery, or whether Bitcoin will seek even lower prices. Analysts cannot agree on this.