cfgi Crypto Fear and Greed Index (CFGI)

[duncun007 3577]

this one is very helpful, to notice how the greed control the market i always notice when everyone is bullish on bitcoin and alts i sell right away, but when there is fear i keep buying those altcoins dumps. always a good choice.

[Abdalrazig 1865]

Thanks for the information, I have heard about so many times and people say it provides uncertain information or you can say mostly false, I am not sure if it really helpful but I don't think professional traders use it, I advise you trust your instincts and read charts carefully you will be fine.

[kyoukage01 3181]

On 9/25/2020 at 11:28 PM, Abdalrazig said:

Thanks for the information, I have heard about so many times and people say it provides uncertain information or you can say mostly false, I am not sure if it really helpful but I don't think professional traders use it, I advise you trust your instincts and read charts carefully you will be fine.

Professional traders may have a use for it, as it basically summarizes what you would have learned about the current market behavior from news and articles which you would have taken hours to read otherwise. It saves you the time.

 

And of course, the CFGI index is not the only chart professionals traders should use. This is just one of the many charts traders can have at their disposal.

 

On 9/24/2020 at 10:47 PM, Whited35 said:

Nicely explained. In overall, CFGI is working correctly according to your experience, right ? Index is showing value 39 for today and we are seeing more possibilities that market could follow bearish trend for Bitcoin and other major altcoins. Personally, I believe Bitcoin price may not go down to break psychological $10K price mark. 

It's working fine at least for BTC, alright. But still, I shouldn't think of the index as foolproof, despite its accuracy. And as long as there are no further events like multiple miners dumping BTC again like they did last time, then we won't expect much panic to the point that the CFGI indicates extreme fear and BTC falls below $10,000.

 

[Whited35 15285]

1 hour ago, kyoukage01 said:

It's working fine at least for BTC, alright. But still, I shouldn't think of the index as foolproof, despite its accuracy. And as long as there are no further events like multiple miners dumping BTC again like they did last time, then we won't expect much panic to the point that the CFGI indicates extreme fear and BTC falls below $10,000.

@kyoukage01 Despite KuCoin exchange hack, BTC price is increasing and it is inspiring other altcoins to get some spike. Incredibly, CGFI is exhibiting 47 now which is neutral value. Honestly, I was expecting BTC price to drop below to the psychological mark to buy and push them into my investment portfolio 😜

Edited September 27, 2020 by Whited35

[kyoukage01 3181]

On 9/27/2020 at 12:05 PM, Whited35 said:

Despite KuCoin exchange hack, BTC price is increasing and it is inspiring other altcoins to get some spike. Incredibly, CGFI is exhibiting 47 now which is neutral value. Honestly, I was expecting BTC price to drop below to the psychological mark to buy and push them into my investment portfolio 😜

The CGFI neutral value today can still go both ways (crypto prices at 50-50 increase/decrease) which may indicate that now would be a very dangerous time to go all-out on trading. And as I have little knowledge about the other exchanges (I'm sticking with just Yobit for now), this is just speculation, but maybe the KuCoin hack wasn't as serious an event compared to the previous ones like the one with ETH's 'bugs' and BTC miners' dump. If there won't be another serious event like some whale suddenly dumping BTC then crypto prices will only go up at this point.

 

Edited September 29, 2020 by kyoukage01

[Whited35 15285]

8 hours ago, kyoukage01 said:

but maybe the KuCoin hack wasn't as serious an event compared to the previous ones like the one with ETH's 'bugs' and BTC miners' dump. If there won't be another serious event like some whale suddenly dumping BTC then crypto prices will only go up at this point.

@kyoukage01 Here you have made the point. That KuCoin exchange hacker is more likely to hold the hacked BTC or he is going to sell them on darknet. Last time, I noticed something suspicious on Uniswap, some tokens' price was dropped more than 4%. I later knew, KuCoin exchange hacker was dumping the price with the stolen tokens. So clearly, KuCoin exchange hack is not causing to drop BTC price sharply so far. 

[Raqeebzy 6456]

This is great for awareness on market conditions no matter if one is pro trader or a beginner; more like interpreting a chart to a digital scale; going to be useful to a newbie trader especially myself. And I think one thing is, it should be available for other alternative coins in a different pair from BTC, maybe USD for the custom. Traders are more active in trading altcoins than BTC generally.

[Whited35 15285]

11 hours ago, Raqeebzy said:

This is great for awareness on market conditions no matter if one is pro trader or a beginner; more like interpreting a chart to a digital scale; going to be useful to a newbie trader especially myself.

@Raqeebzy Oh,yes. It is really helpful and we are getting help off it. You need to tack the values exhibited by index to detect overbought or oversold cases. Sometime I make trading decisions based on this index and surprisingly it is working. 

[Syedbesharat 5423]

Its really helpful for crypto traders like me who want new and advance technology to get more information and better options which helps them to achieve profit. 

Where newbies also can use it to understand quickly about buy/sell in crypto market trend. 

These 3 options makes clear about market current condition. Where go for buy or hodl. 

[Oxygen99 1930]

On 9/25/2020 at 2:07 PM, duncun007 said:

this one is very helpful, to notice how the greed control the market i always notice when everyone is bullish on bitcoin and alts i sell right away, but when there is fear i keep buying those altcoins dumps. always a good choice.

Buying when the prices are down is the best option if you want to make good profit in cryptoworld and that is the strategy the arbitrage traders do they buy immediately when they see drop in the value of a coin then they take it to other site where the value is a bit higher and sell it to earn some profit, so you are wise on how you do your things.

[Raqeebzy 6456]

7 hours ago, Whited35 said:

@Raqeebzy Oh,yes. It is really helpful and we are getting help off it. You need to tack the values exhibited by index to detect overbought or oversold cases. Sometime I make trading decisions based on this index and surprisingly it is working. 

It will surely be a prioritised tool for me in the few tradings I do and when I decide to go deeper into it. 

I don't think you should be surprised of the effectiveness really if the index is as accurate as it is hyped. Market conditions are very vital in trading (I know you know this) and this CFGI seems like one of the perfect tool for me, at least the one I have found. 

Thanks fir sharing it to us.

[Oxygen99 1930]

This is a very good topic to all members @Whited35 but for someone like me i don't understand the chart well since i am not that deep in cryptocurrency trading and for that hat reason i prefer the data index despite knowing that is not too accurate because it helps me know the condition in which the market is that specific time.

[Whited35 15285]

17 hours ago, Raqeebzy said:

Market conditions are very vital in trading (I know you know this) and this CFGI seems like one of the perfect tool for me, at least the one I have found. 

@Raqeebzy Yes, it is beginner friendly index and simply value does matter to make the trading decisions. Most of the time,it works for BTC and major altcoins. Good luck. 

17 hours ago, Oxygen99 said:

@Whited35 but for someone like me i don't understand the chart well since i am not that deep in cryptocurrency trading

@Oxygen99 So you can follow it. Easier to prefer no matter you can read chart or not, it helps you. 

[Oxygen99 1930]

4 hours ago, Whited35 said:

So you can follow it. Easier to prefer no matter you can read chart or not, it helps you

Definitely it is helpful and we all have to appreciate your efforts towards creating this type of topics to members to benefit and i hope one day i become experienced individual just like you because it seems you are among the best contributors in this forum.

[Projectcrypto 4382]

On 9/25/2020 at 2:07 PM, duncun007 said:

this one is very helpful, to notice how the greed control the market i always notice when everyone is bullish on bitcoin and alts i sell right away, but when there is fear i keep buying those altcoins dumps. always a good choice.

That is the best way to earn from Cryptocurrency mate, buy when there is dump in terms of value of coins and patiently wait for the time when the price increase then you sell in order to earn some profit which is what the arbitrage traders do to earn some profit. Do not panic to sell because patience is the key to earn huge profit mate.

[Whited35 15285]

2 minutes ago, ShiNorton said:

Thank you so much for your helpful posts. I am following your so many helpful posts in the forum. I think this index is really useful for me to trade the crypto in the crypto markets. I need to see how it works.

@ShiNorton If you need to quote some something from my topic, please select some section to quote instead of selecting this whole topic.  I have provided the index link in my topic. You can check the index value regularly. Good thing is this index is beginner friendly. I hope you will get use off it. Thanks. 

[Maaz sultan 265]

Thanks for sharing this tool this is very useful when going to invest on any coin because we need to research highly before going to invest our money on any crypto currency and another thing is trading view whichis a very useful tool to see the history briefly with lots of indicators .

[Whited35 15285]

19 hours ago, Maaz sultan said:

Thanks for sharing this tool this is very useful when going to invest on any coin because we need to research highly before going to invest our money on any crypto currency and another thing is trading view whichis a very useful tool to see the history briefly with lots of indicators .

@Maaz sultan I am familiar with trading view too but this is quite user friendly which just exhibit the values. So many exchange use live chart from trading view which is also useful to make the trading strategies. Thanks for your beautiful thoughts.

[kyoukage01 3181]

@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.

 

I'll start.

Spoiler

Spoiler

 

From the slump back in September with ~$10,000, BTC's price against the USD has rebounded with a vengeance, at ~$14,000 in November 3. Now might be a good time to sell some holdings, because we may never know how long this trend will last. Probably the only way for BTC to go stable at its current price range is for the market to indicate neutral, not the HUGE 74 rating on the CFGI.

 

Edited November 4, 2020 by kyoukage01

[Whited35 15285]

3 hours ago, 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.

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. Looking like, investors are accommodating the Bitcoin more than the last 2 months. I hope it may eventually propel BTC price to make an trajectory spike in a near future. 

[kyoukage01 3181]

18 hours ago, Whited35 said:

Looking like, investors are accommodating the Bitcoin more than the last 2 months. I hope it may eventually propel BTC price to make an trajectory spike in a near future. 

December last year was a slump, and if the BTC chart I'm reading is correct, the December in the year before 2019 was a slump as well. If this year follows the same pattern as the previous years, there might be some slump period before this year ends as well. Now would be a question of how much BTC's (and indirectly, altcoins') price will rise before the CFGI chart begins to indicate fear and the market falls again.

 

[George10 9932]

On 9/24/2020 at 2:47 PM, Mike1515 said:

Thanks @Irungu That is really important , but truth is so many people will not understand that fear and greed are their greatest enemy in trading and it requires a lot of resilience to kow what to do  and how to handle everything perfectly.

@Calvinpriva I also use a lot of trade view indicators, whether in which ever instrument am trading, |Oil ,metals and even indices All on trade view, its a great place to actually make some good trading friends

 true also trading needs one to have self control and avoid making some hast decisions as a result of loss impact caused by greed on the market and what I have learnt is that greed and lack of patience is our true enemy in both crypto and Forex trading and this has affected me ounce before therefore, if we can get rid of it then we are going to make it...

[Whited35 15285]

13 hours ago, kyoukage01 said:

December last year was a slump, and if the BTC chart I'm reading is correct, the December in the year before 2019 was a slump as well. If this year follows the same pattern as the previous years, there might be some slump period before this year ends as well. Now would be a question of how much BTC's (and indirectly, altcoins') price will rise before the CFGI chart begins to indicate fear and the market falls again.

Dramatically bigger whale are moving BTC to the exchange wallet. If all of them prepare to sell their holding, believe me they can push the price to $11K ! It is sudden bounce of BTC to cross the $14K mark and again there is a mysterious connection with US stock exchange. 

[mohamedpc1 2213]

I think that you should learn the basics of trading in order to be able to differentiate between selling and loss and avoid large losses because if the sites follow  without knowing the basics of trading, your money will be saved because you will not neglect your responsibility, you depend on others only. Without understanding anything.

[kyoukage01 3181]

11 hours ago, Whited35 said:

Dramatically bigger whale are moving BTC to the exchange wallet. If all of them prepare to sell their holding, believe me they can push the price to $11K ! It is sudden bounce of BTC to cross the $14K mark and again there is a mysterious connection with US stock exchange. 

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.