Bitcoin Fear and Greed Index hits a 4-month low. Analysts warn of potential price drops. Investors turning to stablecoins amidst market uncertainty.
The Bitcoin Fear and Greed Index, measuring market sentiments of digital currencies, has reached its lowest level from October 15th till now. As of December 30th, the index recorded a value of 65, still in the greed zone. According to CoinGecko, the price of Bitcoin is currently at $93,000, experiencing a 13.7% decline in the past twelve days. Analysts have warned of further price drops, leading investors towards stablecoins. The index was above 70 in November and December, reaching its peak at 94 on November 22nd. However, the recent decrease has some analysts predicting increased price fluctuations. Analysts suggest significant price movements may occur as the inauguration of the U.S. President-elect approaches.
