The provided charts reveal some intel about the cryptocurrency market for the month of November. The first chart shows market volume in Billion Dollars, spanning from 2014 to the present. The second chart is the Fear & Greed Index, a complex indicator that measure the cryptocurrency market sentiment over the last 180 days.
The volume chart highlights the remarkable growth of cryptocurrency market. From a small market with only millions of trading per day in 2014, It exponentially increased to an ATH at 200 billion daily volume in 2021. In just 7 years, the market liquidity expanded by ten thousand times. During the "crypto winter" period from 2021 to 2023, the volume shrunk to 20 billion. However, from September to November 2023, the market showed signs of recovery while doubling its volume to approximately 40 billion per day.
The lower chart displays the correlation between trading volume and trader sentiment. As the trading volume increased from September, the market sentiment shifted towars greed. Compared with the previous time when no influx of new money, the sentiment dipped into Fear. An interesting observation is that at the bottom of the market, traders show a stable negative feeling. Notably, there was no extreme fear for a prolonged period.
020 - jaken - 19/11/2023
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