Market Update: Fear & Greed In Crypto
Fear and Greed are what truly move the Bitcoin and crypto markets, as KLV is above $0.0757 (+12.7%), while BTC sits at $37,772 (+12.4%), ETH at $2,445 (+25.3%) & TRX at $0.071 (+15.7%).
Bitcoin (BTC) has remained exceedingly volatile over recent days, dipping as low as $29k on May 19, to then bounce back to currently trade at $37,7k at the time of writing.
There are many factors that contribute to market fluctuations, both in crypto and in other areas of investing. But there are very few factors that play as big and as impactful of a role as Fear and Greed.
The legacy investing mogul and Bitcoin critique Warren Buffett famously said:
“Be fearful when others are greedy and be greedy when others are fearful.“ - Warren Buffett
FUD (Fear, Uncertainty, Doubt) has been spreading recently at an increasingly rapid rate surrounding Bitcoin, which has negatively affected the entire crypto market. This FUD has been primarily driven by Elon Musk’s back-and-forth on BTC and its energy consumption, Tesla halting accepting BTC for car purchases as a result, as well as China allegedly banning Bitcoin, a recurring story with no real truth behind it.
The fact that fear and greed are two of the best indicators of market movements is as true for Bitcoin and the crypto market as a whole, as it is for the S&P 500, Nasdaq and the world’s stock exchanges. Based on a multifactorial crypto market sentiment analysis, the current Fear & Greed Index in crypto has reached Extreme Fear and a low of 10 points out of 100 as of May 24.
As I pointed yesterday, retail investors in the crypto market are the ones who are most likely to get influenced by their own fear and the growing fear in the market, thereby making irrational decisions based on their emotions, rather than rational choices.
Meanwhile, institutional investors who have entered the Bitcoin and crypto market work with a multi-year long plan. Thus, they are much less likely to act on any fear the market is experiencing in the short-term. In other words, they don’t really have any emotions to consider in this regard.
The Fear and Greed Index can instead be used to optimize buying opportunities, since the potential returns of investing in the market at a point of Extreme Fear is magnitudes higher than when conditions are the opposite. Extreme Greed often lay the foundations for an overbought market, and Extreme Fear instead comes with an oversold market.
Bitcoin Fear and Greed Index @BitcoinFearBitcoin Fear and Greed Index is 14 ~ Extreme Fear https://t.co/BOdkRoOT3j
It can be daunting to see your portfolio dwindle during market breakdowns such as the recent Bitcoin plummet from 62k to 29k, but it’s important to remember that the fundamentals around Bitcoin and crypto has not changed one bit.
Despite the growing FUD, likely propelled by institutions and exacerbated by the mainstream media to buy cheaper coins, cryptocurrencies and blockchain technology is already changing the way we manage our finances today. This phenomenon will only accelerate over the coming years.
Klever (KLV) is currently trading at $0.0757 and has increased +12.7% in 24h, and is -0.3% against Bitcoin to 0.00000201 BTC. On May 22, Klever CTO Bruno Campos published the first in a series of Technical Development Progress Report where he outlined the team’s progress on each of the key products being built and developed by the Klever tech team behind the scenes.
“Klever is growing very fast. Today, the company consists of more than 80 full time developers and engineers, and a total of 120 global staff members. Together, we’re all entirely focused on building and enabling the most user friendly, safe and easy to use crypto ecosystem of financial services anywhere on the market.” - Bruno Campos, CTO at Klever
Read the full report here:
Technical Development Progress Report, by Klever CTO Bruno Campos
Moreover, Klever gained notable attention on Friday, May 21 when KLV outperformed the entire crypto market amid a major BTC sell off. The leading data and social metric crypto analysis firm LunarCRUSH.com announced that Klever earned the number 1 spot on the AltRank list among over 2,000 coins and tokens.
LunarCRUSH’s AltRank is a proprietary measurement combining altcoin price performance relative to Bitcoin along with measuring the difference in social activity indicators between all coins. This combined metric seeks to provide a broader view of the health and performance of altcoins.
Klever’s performance was so singularly impressive compared to the entire market that was bleeding heavily on May 21 that LunarCRUSH made a separate post about the fact that KLV was also leading the Galaxy Score rank, indicating “very bullish sentiment.“
Meanwhile, Bitcoin (BTC) is up +12.4% on the day, trading around $37,772 at this time. Ethereum (ETH) has increased +25.3% to trade above $2,445, Tron (TRX) at $0.071 and a daily increase of +15.7%, while Binance Coin (BNB) is up +31.9% to trade at $313.
KLV: $0.0757 (+12.7%) in 24h, at time of writing, 0.00000201 BTC (-0.3%)
KFI: $242.90 (-8.6%)
BTC: $37,772 (+12.4%)
ETH: $2,445 (+25.3%)
TRX: $0.071 (+15.7%)
BNB: $313 (+31.9%)
LTC: $164 (+20.1%)
XRP: $0.86 (+20.3%)
DOGE: $0.33 (+13%)
DASH: $177 (+28.3%)
BCH: $657 (+23.3%)
Swap all these cryptocurrencies at the push of a button in Klever Swap, with over 250 direct trading pairs.
You can also purchase the following cryptos inside Klever App in what is the market’s safest and fastest way to buy crypto with Apple Pay or Credit Card: BTC, KLV, ETH, XRP, TRX, BNB, USDT, USDC & CEL.
KLV is currently trading at:
Director of Communications at Klever