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Alex Dovbnya

Bitcoin traders succumb to “extreme fear” following a massive price crash

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The Crypto Fear and Greed Index has once again dipped into the “extreme fear” territory.

The index, which is considered to be a handy tool for measuring market sentiment, has dropped to just 18 points, the lowest level since July, according to the most recent daily update.  

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Bitcoin plunged sharply lower on Dec. 4, revisiting the $42,000 level for the first time since early October.

The largest cryptocurrency has so far failed to regain the $50,000 level, currently trading at $49,230 on the Bitstamp exchange.

On Nov. 9, the index reached a local peak of 84 points, which happened just one day before Bitcoin reached its current all-time high above the $69,000 level

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