On January 8, 2022, the worth of bitcoin dropped to $40,517 per unit simply after 1 p.m. (EST) on Saturday afternoon. In response to the Crypto Concern & Greed Index (CFGI), sentiment exhibits “excessive worry” is in the air, and the CFGI rating is a 10. The final time the CFGI rating was this low was 171 days in the past on July 21, 2021.
Present CFGI Sentiment Reveals ‘Excessive Concern’ — Bitcoin’s Price 39% Decrease Than All-Time Excessive
Digital foreign money markets shed billions in worth this previous week and the main crypto asset bitcoin (BTC) misplaced near 10% over the past seven days. On Saturday, January 8, 2022, the worth hit its lowest level for the reason that finish of September 2021, tapping a low of $40,517 per unit this afternoon.
Bitcoin’s international commerce quantity on Saturday is roughly $23.6 billion. BTC’s largest buying and selling pair is tether (USDT) which instructions 61.46% of all trades in the present day. That is adopted by USD (14.73%), BUSD (6.79%), KRW (3.64%), JPY (3.27%), and EUR (3.21%).
The worth of bitcoin dropped to $40,517 per unit simply after 1 p.m. (EST) on Saturday afternoon.
BTC’s prime change on Saturday is FTX.US, adopted by Coinbase, Bitfinex, Kraken, and Bitstamp. BTC’s international commerce quantity in the present day solely represents 23.69% of the $99.6 billion in trades amongst all of the belongings in the crypto economic system. Whereas BTC instructions $23.6 billion in commerce quantity, tether (USDT) captures $46.7 billion in commerce quantity worldwide.
Bitcoin Concern and Greed Index is 10 – Excessive FearCurrent value: $42,290 pic.twitter.com/j477q3iSjV
— Bitcoin Concern and Greed Index (@BitcoinFear) January 8, 2022
BTC’s 24 hour vary on Saturday has been between $40,517.66 to $42,702.09. The Crypto Concern & Greed Index (CFGI) hosted on the net portal various.me signifies the present CFGI rating is 10. This factors to “excessive worry” because the device “analyzes feelings and sentiments from totally different sources and crunch them into one easy quantity.”
The CFGI rating hasn’t been this low for the reason that summer season, on July 21, 2021, which was roughly 171 days in the past. The rating has modified an ideal deal since even yesterday, when the CFGI recorded the “excessive worry” sentiment rating at 18. Final week the CFGI rating was 21, and 30 days prior it was 29.
12 months-to-date, bitcoin (BTC) on Saturday, January 8, 2022, BTC is simply up 6.4%. Nevertheless, BTC is down 39% decrease since its all-time excessive (ATH) two months in the past on November 10, 2021. Bitcoin is up, nonetheless, 61,932.6% since July 6, 2013, or eight years in the past when it was $67.81 per coin.
What do you concentrate on the Crypto Concern & Greed Index rating in the present day? Tell us what you concentrate on this topic in the feedback part under.
Jamie Redman is the Information Lead at Bitcoin.com Information and a monetary tech journalist dwelling in Florida. Redman has been an lively member of the cryptocurrency neighborhood since 2011. He has a ardour for Bitcoin, open-source code, and decentralized functions. Since September 2015, Redman has written greater than 5,000 articles for Bitcoin.com Information concerning the disruptive protocols rising in the present day.
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