Except if you have been living under a rock for the past 5 years, you have heard of the "Crypto Fear & Greed Index".
Well first of all, it applied only to Bitcoin but this was something used by normies to check the market sentiment. To make it simple if it was 80 => Greed if it was under 20 => Fear. Easy, right?
This metric is quite interesting and helpful to gauge the market sentiment.
It will not tell you for sure what will happen but at least you will have an aggregated sentiment from different sub-metrics !
Data Sources used for the calculation
They use the following factors:
- Volatility (25 %)
- Market Momentum/Volume (25%)
- Social Media (15%)
- Surveys (15%) currently paused
- Dominance (10%)
- Trends (10%)
Obviously, they do not give the full details of the calculation as it remains their own score and do not want to lose IP I guess
More information about the score can be found here
As you can tell there is some kind of relation but it is not very clear and there is an important lag between the sentiment and the actual price.
Especially on downtrend, price goes down BEFORE setiment it seems.
So it does not seem very precise for prediction purposes but still useful in some cases.
Are they begging for Twitter love? xD
So the associated Twitter index was begging for views, retweets and likes to tell us that they will launch the Ethereum Fear & Greed Index.
And...
I did not even have the time to finish this article, the Ethereum Fear & Greed Index is already live !
With its own Twitter account there: https://twitter.com/EthereumFear
But here is not yet a dedicated page on alternative.me website. So let's wait to see if they calculate it differently. Ethereum truly set itself as the crypto asset number 2... for now :) !
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