I often talk about the fear and greed index in the crypto market, and I do so because I find this matrix quite helpful in understanding overall market sentiment. The reason why I use it is that I can see whether the current market is in what situation, so it can be in fear or the grid, depending upon the overall sentiments, and accordingly, I can plan my next strategy.
This time, the market is not really doing great, and we all know that; however, if you look at the overall peer and grid index, you will see some sign of recovery. What I'm trying to say is that last week's number was 5 and now it is 13. So I would not say that the situation is great, but some sort of recovery can be seen in the market, which is good. However, I believe that this recovery process is also going to be long this time.
This is not the first time we have seen this type of dump in the market, and every time this market turns out to be even better. So they are hopeful that this situation will improve as well; however, it is hard to say how much time it will take. It can be a few months or even years, but I can't say at the moment.
All I can say is that it can be a great opportunity for those who invest in some strong points now and wait for the right opportunity when they can book a profit, because if you do that, then taking a risk now can be a great money-making opportunity as well. You look at the overall historical performance. This has happened a few times in the market, so maybe again you will see something, but for that, you need to have patience and wait for the right time.
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