The crypto market sentiment has fallen back into "extreme fear" as Bitcoin briefly fell below $56,000, while BitMEX co-founder Arthur Hayes predicts it could sink another 12% to fall under $50,000 over the weekend.

The Crypto Fear & Greed Index — which measures market sentiment and trends to give a total possible score of 100 (indicating extremely positive sentiment) — hit a score of 22 on Sept. 6, showing "extreme fear," a seven-point drop from the day prior that pinned sentiment at "fear."

It's the lowest score and price since the index hit 20 on Aug. 8 and the first time it has re-entered the "extreme fear" zone since Aug. 12, when the index hit 25.

Meanwhile, the former CEO of the now-defunct Mt. Gox exchange, Mark Karpelès, has announced plans to launch a new crypto exchange in September.

Source: https://cointelegraph.com/magazine/arthur-hayes-bitcoin-50k-price-mt-gox-mark-karpeles-crypto-exchange-hodlers-digest/

The information provided in this article is for informational and educational purposes only, based on news and sources gathered from the internet. This content should not be considered as investment advice, financial guidance, or a suggestion to buy or sell any digital assets. Before making any financial decisions, we recommend consulting with a professional financial advisor and conducting your own research. The author and the blog are not responsible for any losses or damages that may arise from using this content.