Investors in the cryptocurrency market are becoming anxious again. After several days in uncertain territory, the sentiment index has dropped into 'Fear'.
Overall Market State
The Fear and Greed Index has fallen to 44, reflecting the current sentiment. Bitcoin is down 4.6% this month, while Ethereum has risen by 10%, indicating instability among investors. Analysts warn that the rise of altcoins may be delayed until new ETFs are introduced.
Signs of Investor Anxiety
With the increase in scams amid uncertainty, over $12 million was drained from unsuspecting users in August, affecting more than 15,000 people. A total of over $163 million was stolen from hacks and scams that month. Investors are seeking to reduce risks and move away from volatile assets towards more secure projects.
Alternative Strategies in Times of Instability
The rise in scams is prompting investors to seek more reliable investments. Projects with real utility are beginning to gain more attention. Investors are interested in altcoins that offer practical applications and help mitigate the risk of losing funds on random tokens.
Against the backdrop of current challenges in the crypto market, investors are increasingly inclined towards safer investments, making market analysis and awareness of project quality key factors in decision-making.
