cfgi Crypto Fear and Greed Index (CFGI)

[Whited35 15285]

On 11/6/2020 at 7:55 AM, kyoukage01 said:

We can't really predict with absolute conviction what will happen now, since this year is different with the coronavirus pandemic and all. Hopefully those whales better not do anything too dramatic by selling everything at once (but then again, what if they want to manipulate the market, LOL) and crashing the market as a result. It would be nice for the long term hodlers for the CFGI index to indicate neutral or fear even if the BTC price is still at the ~$14,000 range.

Yesterday, greed index value was 88, I used stop loss at $15,500 in BTC/USD pair.Today, my eyes were perked with curiosity, market has lost 4.5% in price for BTC but again uplifted to $15000 plus mark, analytical tools are not helping me in this situation, really 😂. 

Greed index is exhibiting 82 value for today, it means some whales played the role yesterday. Despite the slightly bearish market,BTC price may bounce over $18K, who knows 😜?

[kyoukage01 3181]

57 minutes ago, Whited35 said:

Yesterday, greed index value was 88, I used stop loss at $15,500 in BTC/USD pair.Today, my eyes were perked with curiosity, market has lost 4.5% in price for BTC but again uplifted to $15000 plus mark, analytical tools are not helping me in this situation, really 😂. 

Maybe you should also factor in the global economic slump due to the pandemic as well. There weren't any other crisis of this magnitude during the previous years so IMO I won't count too much on the accuracy of analytical tools at this point. This is not saying we should rely too much on our emotions to decide either 😂 .

 

50 minutes ago, Whited35 said:

Greed index is exhibiting 82 value for today, it means some whales played the role yesterday. Despite the slightly bearish market,BTC price may bounce over $18K, who knows 😜?

The halving magic, perhaps? Mostly everyone predicted that BTC will rise after the halving a few months back, and maybe now is that time. But with the CFGI chart exhibiting 'extreme greed' at this time, the current price is probably not going to last long.

 

[Whited35 15285]

2 hours ago, kyoukage01 said:

Maybe you should also factor in the global economic slump due to the pandemic as well.

Pandemic caused a trouble but now, more likely global crypto market is feeling relief. Craze to use blockchain solution is in increasing rate. For the current crypto market situation, everyone is talking about US presidential election but I am also searching to find whether there is connection between Bitcoin ETP and  massive devaluation of Egyptian pound. 

 

2 hours ago, kyoukage01 said:

But with the CFGI chart exhibiting 'extreme greed' at this time, the current price is probably not going to last long.

Yes, BTC price can bounce back to previous stage anytime. 

[Shaza Ahmad 1682]

The fear and greed index, its value is now close to 90%, while it was less than 10% 6 months ago, and during this period the price of Bitcoin rose 3 times so I think now is a good time to reap some profits before any fall in the market.

[SuperCrypto 7193]

I have never used this indicator before but it is better to use the Relative Strength Index (RSI) to judge overbought and oversold levels. Overbought or oversold levels are the price levels at which a correction can be expected.

[Whited35 15285]

On 11/12/2020 at 7:05 PM, RamiCryp said:

I have not heard of this indicator before, I hope it is useful and gives you real useful numbers, but I think that there are well-known and reliable high indicators more than this such as RSI.

Index value is determined based on so many parameters like political news, market's sentiments and many more. I have involved the link of CFGI in my topic. You might check that out. Index helps you to find more investment opportunities. 

[kyoukage01 3181]

There is now a Bitcoin bullrun going on. To reflect on this, the CFGI index is now displaying a 94 mark, the highest so far for this year.

 

The people who have been hodling "overpriced" BTCs they bought back in 2017 now have the opportunity to sell them back and regain what they've lost, and then buy BTC again once the bullrun ends and BTC become cheaper. They'd better hurry though, because I wonder how long the greediness will last?

 

[Whited35 15285]

1 hour ago, kyoukage01 said:

There is now a Bitcoin bullrun going on. To reflect on this, the CFGI index is now displaying a 94 mark, the highest so far for this year.

So now crypto community should start to make discussion regarding the connection of the stock market and Bitcoin price. In previous, I used to think cryptocurrency is the safe heaven but now, I have started to think utterly different. I have Bitcoin holding too but there is still possibilities that Bitcoin price jump over the 20K mark. Index value 94 means bull run is about to reach the peak. 

[Jandancoin 482]

On 11/8/2020 at 4:53 AM, kyoukage01 said:

Maybe you should also factor in the global economic slump due to the pandemic as well. There weren't any other crisis of this magnitude during the previous years so IMO I won't count too much on the accuracy of analytical tools at this point. This is not saying we should rely too much on our emotions to decide either 😂 .

 

The halving magic, perhaps? Mostly everyone predicted that BTC will rise after the halving a few months back, and maybe now is that time. But with the CFGI chart exhibiting 'extreme greed' at this time, the current price is probably not going to last long.

 

Now is the time, many whales have been preparing for halving, and they are investing on bitcoin after halving, this has driven the price of bitcoin to $18000 recently, but now at $17500 readying for the next bull run which could drive the price to shove $19000 then $20000 will follow. 

[Yomose 3704]

On 11/8/2020 at 7:00 AM, Whited35 said:

Yes, BTC price can bounce back to previous stage anytime.

Well this can be possible if the institutional investors sell their bitcoin holdings, but I do not think this would be possible anytime soon, and if bitcoin price will fall, I think it will first reach all time high before such would happen. 

[Omar Ommeish 4872]

This indicator is good, but we cannot rely on it because we must also look at the quantity of supply and demand for each currency in addition to technical analysis and study of the currency project for long-term investment.

[Whited35 15285]

7 hours ago, Omar Ommeish said:

This indicator is good, but we cannot rely on it because we must also look at the quantity of supply and demand for each currency in addition to technical analysis and study of the currency project for long-term investment.

You are right on it but index is good enough for the beginners who have no idea about technical analysis  to make further trading strategies. 

 

1 hour ago, Emanuel 12 said:

Thanks for the educative information. Knowing more about trading like this can help improve ones trading abilities. This can help users have little idea about the prices and also enable them reduce fears when trading crypto

Cool. I hope you will help off it. Try to follow the index value regularly by visiting the official website for CFGI index. In my case, this index is appeared to be highly useful. 

[kyoukage01 3181]

18 hours ago, Jandancoin said:

Now is the time, many whales have been preparing for halving, and they are investing on bitcoin after halving, this has driven the price of bitcoin to $18000 recently, but now at $17500 readying for the next bull run which could drive the price to shove $19000 then $20000 will follow. 

BTC price can still drop at anytime, especially if the whales start to act. If there is enough greediness in the market to absorb a whale's impact to absorb whatever it throws out and still maintain the bullrun then $20,000 is not impossible; but then again, we are not dealing with just one whale.

 

20 hours ago, Whited35 said:

In previous, I used to think cryptocurrency is the safe heaven but now, I have started to think utterly different.

I think now would be a good time to make use of whatever investment a person made with cryptocurrencies like selling/trading them, not just letting them gather dust in a corner. After the bullrun and the dust have settled, we can regard cryptocurrencies as a safe haven for investing again (and profiting from the bullrun as a side as well).

 

[Whited35 15285]

8 hours ago, kyoukage01 said:

I think now would be a good time to make use of whatever investment a person made with cryptocurrencies like selling/trading them, not just letting them gather dust in a corner. After the bullrun and the dust have settled, we can regard cryptocurrencies as a safe haven for investing again (and profiting from the bullrun as a side as well).

Safe heaven means it may not depend on the track and influence of stock markets. I am just wondering to see, when I notice a massive sell -off orders, price of BTC start to drop dramatically just like as "Black Thursday" and again when indicators shows a green signs in the stock markets, price of BTC start to raise again. Anyway, for now I am enjoying with the bullrun and maybe, another spike is on the way.  

[ETheHedgehog 3104]

i never knew about this indicator and it looks really good for trading decisions, knowing whether investors are overbuying or over selling is essential for trading, usually we try to know this information by reading the graphs, so this indicator makes it easier to know this information

Edited November 20, 2020 by ETheHedgehog

[kyoukage01 3181]

On 11/4/2020 at 11:26 AM, kyoukage01 said:

@Whited35 You can make a monthly post assessing the crypto market using the CFGI, you know. That way, we can keep the discussion here fresh and relevant.

On 11/4/2020 at 3:08 PM, Whited35 said:

Thanks for your constructive suggestions @kyoukage01. Instead of creating the new topic, I might better provide an update to this thread which will be just related with a tool i.e.CFGI

 

What happened with the monthly update? 😅

Spoiler

 

Anyway, the CFGI chart has been consistently up towards greediness for more than a month now, exceeding my previous expectation on my last posts that it wouldn't last long. But if the current market situation remains, then there will be a battle set between the BTC bull and bears, with the whales most likely taking a major role. As indicated on the second picture, BTC had its first sharp dip while attempting to reach the $20,000 mark, and we may be witnessing a second one as of this moment. Traders might be nervous now with the present situation.

 

Edited December 2, 2020 by kyoukage01

[Whited35 15285]

1 hour ago, kyoukage01 said:

What happened with the monthly update? 😅

Awh, @kyoukage01 pardon me brother 😂 ! It is all due to Bull run and I am getting busier in trading due to high price volatility. Looking like I am already too late as it is 2nd of Dec. Anyway, I do my best, wait for a while.

1 hour ago, kyoukage01 said:

As indicated on the second picture, BTC had its first sharp dip while attempting to reach the $20,000 mark, and we may be witnessing a second one as of this moment. Traders might be nervous now with the present situation.

Looking like you did the best here, better than mine 😉 

[Whited35 15285]

Cryptocurrency Market Monthly Updates Based-on CGFI(Nov 3-Dec 2,2020):-

On Nov 3, you can notice CFGI value 71 that is above 50 and was indicating "Greed" or "Bullish" market. Remember, this index is applicable for Bitcoin and major top ranked altcoins like ETH,XRP,LTC, etc. Market was seen bullish entire in the month of Nov as you can notice all CFGI value above 50. Lowest value of CFGI was seen 71 and BTC price was lowest at that time i.e. on Nov price of Bitcoin was around $13681. An extreme greed was seen Dec 1,2020 with the value of CFGI 95 and Bitcoin price reached ATH by surpassing $19,860 zone on Monday morning (EST). Have a look at following chart.

 

[KHALED ADWANI 1216]

Thank you for the information.

I logged into the site and read the details.

They are doing a great job to bring this indicator as close as possible to the truth.

Part of their job is voting, they get 2,000 votes a week, that's a good number for me

[Whited35 15285]

18 hours ago, KHALED ADWANI said:

Part of their job is voting, they get 2,000 votes a week, that's a good number for me

Hmm, which voting are you talking about ? They count survey as the data source but it is currently paused and they are maintaining other resources to update the CFGI index value in every 24 hours. Please clearly visit their site for the further elaboration. 

[kyoukage01 3181]

An interesting point of view is that despite BTC going down a few days ago at some point, the CFGI chart was still displaying greediness (refer to the previous pictures on my post above). The chances therefore of recovery was high, and it did recovered a couple or so days later.

 

And yesterday, BTC price fell down a bit, but today, it rises up again.

 

What does this mean? IMO, If the market greediness remains relatively constant, then we might witness a seesaw in the BTC price charts as traders cashing in on BTC once it nears the $20,000 mark come and go. Good luck to the traders who haven't gotten any sleep yet for watching the charts every second for hours at end 🙂 .

 

23 hours ago, Whited35 said:

Awh, @kyoukage01 pardon me brother 😂 ! It is all due to Bull run and I am getting busier in trading due to high price volatility.

No need to apologize. I'll just have to bump the topic myself if you're late  😄  . This is one of those few topics that will never get old, and letting this get neglected would be such a waste.

 

[Whited35 15285]

9 hours ago, kyoukage01 said:

An interesting point of view is that despite BTC going down a few days ago at some point, the CFGI chart was still displaying greediness (refer to the previous pictures on my post above). The chances therefore of recovery was high, and it did recovered a couple or so days later.

It exhibited the extreme greed because buyers were still buying BTC despite its price felled due to some dumps. 

9 hours ago, kyoukage01 said:

Good luck to the traders who haven't gotten any sleep yet for watching the charts every second for hours at end 🙂 .

 Traders are busier now because they are expecting new ATH to cash out and due to massive sell-off, I think price of Bitcoin immediately collapsed to break some initial resistances. 

9 hours ago, kyoukage01 said:

No need to apologize. I'll just have to bump the topic myself if you're late  😄  . This is one of those few topics that will never get old, and letting this get neglected would be such a waste.

At least you have full rights to do so. I would not mind if you make an update at the end of this month in above format 😉

[kyoukage01 3181]

12 hours ago, Whited35 said:

It exhibited the extreme greed because buyers were still buying BTC despite its price felled due to some dumps. 

How long do you think will it take for the CFGI chart to fall back to at least the neutral range? And if it happens, what would be the price of BTC by that time? Will it fall to at least $15,000?

 

As for those buyers, they sure are confident that they can still profit at this time. Because if the BTC bubble pops and becomes a repeat of 2017, there is going to be a lot of crying and wailing like what happened back then.

 

[Whited35 15285]

9 hours ago, kyoukage01 said:

How long do you think will it take for the CFGI chart to fall back to at least the neutral range? And if it happens, what would be the price of BTC by that time? Will it fall to at least $15,000?

@kyoukage01 I think this bullish trend keeps going on for this whole month. Once massive sell-off is seen in the crypto market, market sentiments will be dramatically changed and those who have invested at the peak start to sell crypto by using stop loss in FOMO 🤣 Last time, the profit was quite little but in odder to prevent loss, I immediately sold BTC at $19250. If price keep falling, CFGI would exhibit its value between 50-60 and price of BTC could be around the psychological mark $16500 😎 ! 

[kyoukage01 3181]

16 hours ago, Whited35 said:

Last time, the profit was quite little but in odder to prevent loss, I immediately sold BTC at $19250.

That may have been a good call. BTC is now dropping (again!?) and who knows whether it will still recover this time.

 

(I posted the latest BTC - USD chart on another topic here.)

 

16 hours ago, Whited35 said:

If price keep falling, CFGI would exhibit its value between 50-60 and price of BTC could be around the psychological mark $16500 😎 ! 

Worst case scenario, there would be an overwhelming FOMO, CFGI values fall at the fear range, and BTC follows as a result. This is what will happen when crypto traders become afraid of another 2017 repeat. But today's CFGI index displays a confident 93 rating which indicate that perhaps tomorrow BTC will rise yet again. We still won't be seeing BTC dipping the psychological mark today just yet.

 

Quote

Cool!!! Now the moderator should be informed that he needs to visit this topic and replace the "recommended post" announcement every time you make a monthly update 😉 .

 

Edited December 5, 2020 by kyoukage01