Fear & Greed Index Suggests A Bull in the Bitcoin Market? - Global Coin Report
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Fear & Greed Index Suggests A Bull in the Bitcoin Market?

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cryptocurrency trading

As indicated by Justin Kwo, an analyst director from Bexplus, Cryptocurrency trading is a game of nerves and it cannot withstand the emotional behavior. Traders keep on changing their minds with the sudden and strong market fluctuations. This behavior reflects their psychological instability and prevailing sentiment in a particular time zone. However, in the Bitcoin market, traders’ emotions will determine their trading behaviors, which, therefore, affects the future trend of Bitcoin. 

So, what is Fear and Greed Index?

Alternative.me has the most well-known and respected Bitcoin fear and greed index.

  • Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.
  • When Investors are getting too greedy, that means the market is due for a correction.

To make it precise:

  • When the index drops below 20 it indicates extreme fear.
  • When the index rises above 60, it indicates extreme greed.

The result of Fear and Greed Index is calculated from the following aspects:

Volatility: the program marks wider fluctuations as a sign of fear

Market volume: if buying volumes increase significantly, the greed levels rise, too

Social media: the client monitors, gathers and counts posts on various hashtags, to see how many interactions they receive over certain time-frames

Dominance: when Bitcoin dominance rises, it indicates an increasing level of greed, and vice versa, when the dominance shrinks, it means that people get scared to invest in BTC. 

Trends: the program pulls Google Trends data for various Bitcoin-related search queries and crunches those numbers, especially the change of search volumes.

Fear and Greed Index Signals A Bull Recently

From the picture below, we can see that in the past 2 months approximately, the crypto Fear and Greed Index has been between “Extreme Fear” and “Fear” degrees. Amid the coming halving as well as Bitcoin has nearly doubled since the extreme low set back in mid-March, showing that this very well could be the disbelief rally is coming which may surges to new highs.

Take Advantage of Market Fluctuation and Double Profits

Though the Fear and Greed Index may indicate a bullish trend, there will be a lot of fluctuations. Make profits on these fluctuations, you can make great fortune before BTC skyrockets to $20,000 again. 

Bexplus is one of the world-leading futures exchanges in the cryptocurrency area. It’s registered in Saint Vincent and the Grenadines, in late 2017. Bexplus offers 100x leverage perpetual contracts across all major trading pairs including BTC/USDT, ETH/USDT, LTC/USDT, XRP/USDT and EOS/USDT. With 100x leverage, traders can open a “short” or a “long” position of 100 BTC with only 1 BTC used as margin. If BTC price increases or decreases 10%, the profit would be 10 BTC, whereas without leverage, the profit would just be 0.1 BTC.

Win Up to 10 BTC in Bexplus

Up to 100% FREE BTC bonus will be sent to clients who deposit and trade futures contracts in Bexplus. 

For example, deposit 10 BTC, you will get 20 BTC credited in your account. 

For more details: https://www.bexplus.com/activity/cash_back

One of the richest traders on the planet Warren Buffet said, “Investors should remember that excitement and expenses are their enemies. And if they insist on trying to time their participation in equities, they should try to be fearful when others are greedy and greedy only when others are fearful.” 

Remember the quote, you can make successful trades in Bexplus easily!

Bitcoin

The Pros And Cons Of Cryptocurrency

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Many facets of our lives are now digitized––money is no exception. 

Have you noticed that paper money is on its way to being obsolete because so many people receive direct deposit and love the simplicity of their debit card? 

Not to mention, cash carries germs, as we’ve heard lots about during the pandemic. Many businesses have turned to card only options in light of this. 

But what about cryptocurrency?

You probably heard everyone raving about it a few years ago, but the excitement’s calmed down quite a bit. That doesn’t mean that it’s not a viable option you should keep in mind. 

What’s Cryptocurrency? 

Let’s start with the basic definition of cryptocurrency so we’re all on the same page. Cryptocurrency utilizes cryptographic methods and complex coding systems to encrypt sensitive information during data transfers. This protects your funds and personal information on a whole different level. 

These transactions are virtually impenetrable due to the combination of mathematical and technological protocols created and put in place. This aspect of cryptocurrency is what makes it safer. Also, the details of transactions are kept private. No one can see who sent what, etc., because those rigorous mathematical and technological protocols protect it.

The Pros: 

Different From Traditional Banking Transactions

One thing people hate about traditional banks is the fact that they can…

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Enhancing the DigitalBits Ecosystem through the XDB Foundation

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The DigitalBits ecosystem welcomed a new benefactor in the form of the XDB Foundation, a non-profit organization dedicated to providing support for DigitalBits. The main objectives of the XDB Foundation include the DigitalBits Ecosystem Support Program, supplying both financial and non-financial assistance to qualified entities and projects within the DigitalBits community, with a focus towards innovation and speeding ecosystem growth.

Michael Gord, MLG Blockchain and GDA Capital founder, has been appointed to the role of Managing Director of the XDB Foundation.  “I am excited to see the launch of the XDB Foundation and to be joining the DigitalBits ecosystem in this new capacity,” says Gord. “In the coming weeks, the XDB Foundation will share additional updates regarding its key initiatives.  Over the past 2 years, we have seen DigitalBits achieve various milestones and with this next chapter I’m excited to see the XDB Foundation contribute as the new project lead supporting education, research and development, and ecosystem growth and adoption.”

Michael Gord’s first initiatives within blockchain started with establishing the McGill Students’ Cryptocurrency Club, McGill Students’ Fintech Association, Bitcoin Canada and providing leadership on the global expansion of the Blockchain Education Network.  Notably, he is also a key contributor to the Kerala Blockchain Academy, one of the largest innovation hubs for blockchain technology worldwide. 

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Bitcoin

As Global Tensions Grow, Bitcoin Price May Go Higher

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BTC Surged Again as A Safe Haven Asset During Global Tensions

  • India – China Border Conflict

After weeks of squabbling and brawling along their long-disputed border, hundreds of Indian and Chinese soldiers engaged in a deadly clash Monday in a river valley that’s part of the region of Ladakh last week. Troops had massed on both sides of the border in recent months in the northern India region of Ladakh and the southwestern Chinese region of Aksai Chin, causing global concerns of a potential escalation between the two.

  • North and South Korea Clash

Last Tuesday, North Korea destroyed the liaison office it jointly operates with South Korea in the city of Kaesong, just north of the demilitarized zone that separates the two countries. 

North Korea also said it would send troops to now-shuttered joint cooperation sites on its territory, reinstall guard posts and resume military drills at front-line areas in a violation of separate 2018 deals with South Korea. Jeong said South Korea will take “immediate, swift and corresponding” steps to any North Korean provocation.

The tensions grown in Asia and the potential “second wave” of coronavirus in the United States may add more difficulties to the global economic recovery. Thus, Bitcoin, as a safe haven asset, attracts more investors to buy and hold. 

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