BitDigest May 18 · Issue #904
- Seas are settling following latest crypto storm
- US legislation proposed protecting investors from IRS penalties on forked assets
- GLXY and RIOT report Q1 gains
Crypto Fear & Greed Index
The Fear & Greed Index for bitcoin and other large cryptocurrencies collapsed, dropping 40 points over the past 7-days, to a 13-month low not seen since last year’s COVID-crypto-selloff. It should be no surprise that the index is now in an ‘extreme fear’ range as FUD has returned to the digital currency market. Whether it is Elon, Tether, or taxes, crypto prices are down as the newly initiated crypto buyer decides whether they can handle the recent market weakness.
The ride continues…
I have not heard of a good term to describe the feeling in your stomach when you see crypto prices experience the first big drop. (Any suggestions?) Anxiety hits and FUD rushes in. Its often compared the bitcoin rollercoaster meme. You experience the first big drop on a rollercoaster and for a split second you want off. You have experienced 5-Gs at over 125 miles per hour, but at the end, you love the ride and go again and again till your mother (or wife) tells you it’s time to go home – you can always come back to ride the coaster another day.
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