#Bitcoin Based on Fear & Greed Index

If we take a look at the entire history of the existence of the F&G Index for Bitcoin, we can easily identify 4 periods when it was at its minimum values (below 20 points) for long stretches of time.

Let’s examine each one in order from oldest to latest:

1. 20th of November 2018 - 20th of January 2019. After a major dump from $6000 to $3000, Bitcoin was in a narrow price corridor for 60 days and showed no signs of life.

2. 10th of March 2020 - 20th of April 2020. The crash of all markets caused by the outbreak of the COVID 19 pandemic placed investors inside a grim miasma of defeat. As a result, the F&G index was kept at its lowest values for 55 days.

3. 20th of May 2021 - 20th of July 2021. The staggering drop of Bitcoin from $60000 to $30000 in just two weeks had a severe impact on the mood of the people. The F&G index was at its minimum values until the market began to recover.

4. 2nd of May 2022 - ???. Nine weeks in a row closed on red candles, low volatility and the collapse of Terra Luna. These events have had their effect on market participants, which resulted in low values of the F&G Index without hope for recovery.

What conclusions can we draw from these 4 periods?

Firstly, all of them were accompanied by FUDs of varying degrees of significance. Secondly, their average length is about 2 months and they are followed by the return of positive moods to the market caused by growth.

In our current situation, you can see that we have reached the low values only at the beginning of May. Consequently, there is every reason to believe that we won’t see the growth of the cryptocurrency market until the end of June 2022.

However, Q3 has every chance to gift the market a bunch of green days.