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Crypto Fear & Greed Index Eyes Greed Zone Despite Bitcoin (BTC) Price Dump

News
Thu, 06/04/2020 - 11:55
Vladislav Sopov
After the upsurge past $10,300, Bitcoin (BTC) has revisited $9,500-$9,600 waters in a painful correction. But even this fall hasn't stopped the Crypto Greed&Fear Index!
Crypto Fear & Greed Index Eyes Greed Zone Despite Bitcoin (BTC) Price Dump
Cover image via stock.adobe.com
Contents

The crypto Fear & Greed Index calculated by the Alternative software company revisited a three-month-high at 56 on Jun 2, 2020. Since this indicator lags one day behind the actual market sentiment, it reflected the bullish inspirations of the first day of Summer.

Big greed is on the horizon

This indicator stopped its growth only for one day after the painful Bitcoin (BTC) price drop of June 2nd. Today it is surging again reaching 54 points, which is interpreted as a 'Neutral' market sentiment.

Crypto Fear and Greed Index prints 54 points
Image by Alternative

It looks like it won't take long for the Fear & Greed Index to revisit the 2020 local high at 65 that was reached on February 13, 2020. After Black Thursday and the tremendous crypto market bloodbath, this index stayed in the Extreme Fear Zone for a long time, touching a local low at 8. 

It has been slightly outperformed by a similar CNN Business Fear & Greed Index. This investor sentiment indicator has already entered the Greed territory and is now sitting at 61 points.

Seasoned analyst and trader Crypto Birb mentioned this process in his Twitter. It looks like he is treating it as an indicator of 'Hope' or a 'Belief' phase of the market sentiment cycle.

Crypto Bird mentioned Ceypto Fear & Greed indicator
Image via Twitter

Is 'decoupling' on borrowed time?

One rule has worked perfectly amidst the ongoing market recession. Analyst Charles Edwards of Capriole Investments outlined that Bitcoin (BTC) is only correlated with stocks in times of extreme fear and extreme greed.

That said, we need to prepare ourselves for the impressive crypto market capitalization rally, since the stocks' bull run is nowhere near its end.

The crypto Fear & Greed Index by Alternative utilizes different types of market inputs to determine the sentiment of investors. It tracks market volatility, market volume, social media tendencies, Bitcoin (BTC) price dominance and Google Trends indicators for crypto-focused searches.

Previously, the Alternative also used data from surveys, but this section has been switched off.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director

News
Mon, 07/13/2020 - 14:38
Vladislav Sopov
John Lilic, managing director at ConsenSys decentralized development studio, has shared an over-bullish prediction for Ethereum (ETH) progress
Ethereum (ETH) Market Cap May Become Equal to Bitcoin's (BTC): ConsenSys Director
Cover image via stock.adobe.com
Contents

John Lilic leads international business development in the ConsenSys leading blockchain development studio. He is also an expert in energy markets and cryptocurrency segments. He tracked the progress of Bitcoin's (BTC) and Ethereum's (ETH) market capitalization statistics, coming up with an extravagant prediction.

Bitcoin (BTC) should get ready for parity

Mr. Lilic outlined that Ethereum (ETH) is showcasing much healthier dynamics than its competitor is. For instance, the flagship cryptocurrency still surpasses Ethereum (ETH) by 6.3x in terms of market capitalization, while simultaneously collecting 20% fewer fees than Ethereum (ETH).

John Lilic of ConSensys foresees parity of Bitcoin (BTC) and Ethereum (ETH) market capitalizations
Image via Twitter

Also, Ethereum (ETH) is demonstrating much more impressive price dynamics this year. It gained almost 37% against Bitcoin (BTC) in 2020. That said, Ethereum (ETH) looks severely undervalued to the top manager of ConsenSys.

However, Ether is on the path to eliminating this discrepancy. Eventually, the top two cryptocurrencies may reach market capitalization parity, concludes Mr. Lilic.

Related Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains
Related
Bitcoin (BTC) and Ethereum Have (ETH) Recovered From Black Thursday, Who Else? Coinmetrics Explains

As covered by U.Today Crypto News recently, Coinmetrics on-chain research team called Bitcoin (BTC) and Ethereum (ETH) the unique crypto behemoths that have managed to recover from Black Thursday.

Bitcoin (BTC) is losing supremacy in "fee race"

Should Ethereum (ETH) overcome its undervaluation, its price may be over $1,550 based on liquid supply and current Bitcoin (BTC) market capitalization.

Recently, it was unveiled that Ethereum (ETH) blockchain continues to surpass Bitcoin (BTC) in terms of network fees for more than 30 days in a row. Ethereum (ETH) is seeing this advantage for the first time in its history.

As U.Today Crypto News reported previously, ex-Messari analyst and angel investor Qiao Wang identifies two main catalysts of Ethereum's (ETH) price run in the mid-term perspective.

Related Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang
Related
Ethereum (ETH) Price Two Bullish Signals, According to Investor Qiao Wang

According to Wang, the upcoming rally may be fueled by a long-awaited transition to Proof of Stake and fixing the monetary policy of Ether token.

About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)