Bitcoin Fear and Greed Index reaches historic “7” – “Extreme Fear”. We did not reach here since the Covid Crash.

Today Bitcoin did go on a meeting with its previous cycle ATH of about 20k. This happened for the first time in the history of three bear markets. Obviously the Fear and Greed Index acted accordingly and slumped to the historic "7" mark that was only reached about there times and the last time was the Covid Crash in March 2020.

But it's still to be cautious to not take this (or any other) index as any kind of a indicator for the bottom. The past few days showed that even the most mature models can just break and this market volatility can not be defined by any kind of rules.

Can it now go lower? Obviously it can we can even go to "1" or so. This index is just an observation of the market and not any kind of a helper. The best helper is to stick to your own plan and ignore everything else.