Crypto Fear and Greed Index
Happycoin.club - The cryptocurrency market's fear and greed index has reached its highest level since July 2024, surpassing 60. On Saturday, after Bitcoin rose to $66,000, the index reached 64.
The Fear and Greed Index was created to track market sentiment in the crypto industry. It is calculated based on signals that influence the behavior of traders and investors, including surveys, Google (NASDAQ:GOOGL) Trends data, the level of volatility in the price of digital assets, social networks, and the market share of Bitcoin. The highest score is 100, the lowest is 0.
In August, the index was in the "fear" zone, and on August 6, it fell to its lowest level - 17. On this day, the price of Bitcoin fell to $ 53,000. Now the indicator is at 64, which indicates "greed." Such a high indicator signals an increase in investor confidence in digital assets.
Experts also make an optimistic forecast for cryptocurrencies. For example, the head of the research department at 0x Research, Markus Thielen, believes that the bullish rally will begin on the cryptocurrency market in the fourth quarter. According to his estimates, the yield on Bitcoin is currently above the price level of $65,000, which may cause FOMO (fear of missing out) among market participants.
Bitcoin's price has risen by about 11.18% over the past month, the highest since March, according to CoinMarketCap data.