The Ethereum Price Has Investors Feeling Very Afraid Lately
Billionaire investor Warren Buffett is famous for being fearful when others are greedy and greedy when others are fearful. While he may be a stock market guy, the same strategy could be applied to cryptocurrencies, even if Buffett is no fan of bitcoin.
Investors have been fearful of late, with the broader cryptocurrency market cap shrinking from $2.8 trillion in November to below $2 trillion today. Even the pack leaders have not gone unscathed, including Ethereum, the second-biggest coin by market cap.
It appears that not too many crypto investors are heeding Buffett's advice to be greedy and capitalize on the market downdraft.
The Ethereum price is barely holding onto the $3,000 level after crossing the $4,400 level in October 2021 and setting a fresh all-time high at the time.
The Ethereum Fear and Greed Index, which measures market sentiment, is currently flashing fear at a reading of 26, indicating that investors are shaking in their boots. Fear has been the dominant emotion for a while.
Investors have not felt greed around the Ethereum price since November when the index was hovering at 64.
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