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Bitcoin and cryptocurrency traders and investors are nervously watching prices as market sentiment seems to have turned worse its level as of December 2018
] Bitcoin and cryptocurrency investors, however, worry about the fact that the crypto fear and greed index p says "extreme fear," and earlier this week dropped to a 244-day low, last seen when bitcoins collapsed to about $ 3,000.
The fear index reached a constant hello at the end of June, when excitement over Facebook's plans for its bitcoin rival reached a fever pitch, but has since plunged as regulators signal their displeasure with the social media giant.
"The current regulatory review of Facebook's plans for its digital token has reduced investor sentiment for cryptocurrencies," said Kristel Keck, chief executive officer of Bolt Global, a cryptocurrency portfolio and entertainment company.
The fear index is currently showing a reading of 20, but earlier this week it dropped to 11 after falling sharply throughout August.
As the index reaches its annual lows, the price of bitcoin has fallen another 2%, while the overall cryptocurrency market has seen more than $ 30 billion deleted from it in the last week.
Meanwhile, the price of bitcoin fell below the psychological $ 10,000 for a bitcoin brand this week, further worries traders and investors.
Some of the bitcoin and cryptocurrency industries have indicated that the broader cryptocurrency market has declined along with the price of bitcoins.
'Bitcoin and major cryptocurrencies, including litecoin, ethereum and RRPL, have declined & lsqb; This week & rsqb; worries about slowing down the economy, "added Quek.