Bitcoin (BTC) and altcoins have been in a long-term downtrend, and fear dominates the market.
At this point, according to the fear and greed index, the market is in the extreme fear zone with a score of 9, and Binance co-founder and co-CEO Yi He stated that the cryptocurrency market has entered an extreme fear phase.
In a comprehensive statement from account X, Yi He said the market would rebound once the climate of fear and uncertainty (FUD) dissipates.
Yi He stated that investor confidence has decreased due to the widespread fear, uncertainty, and doubt (FUD) in the cryptocurrency market. The current stagnation in the market is also largely due to short-term fear.
According to Yi He, the current FUD is deterring new entrants and pushing existing traders to take profits in an environment of uncertainty.
It’s even causing financially independent early adopters (OGs) to become skeptical due to widespread FUD and consider leaving the sector.
“For new investors, Binance represents the entire crypto market.”
Therefore, when negative news and FUD (fear, uncertainty, and doubt) spread, they hesitate to enter the market.
For active investors, FUD and uncertainty lead them to realize their profits. For veteran investors, constantly being exposed to meaningless FUD and AI-powered attacks further increases their suspicions and causes them to consider leaving the sector.
Therefore, the Crypto Fear and Greed Index on CMC has fallen to between 5 and 10.
When FUD ends, the cryptocurrency market will rise again.”
*This is not investment advice.
