🔥Bitcoin Fear and Greed Index Soars, Investor Sentiment High!
As BTC prices soared, breaking through the $60,000 mark, the Fear and Greed Index also reached a new high since the end of July, breaking through the 71-point mark!
Just a few days ago, the index was still hovering in the fear zone, but with the strong rebound of Bitcoin, it quickly turned green, showing the greedy sentiment of the market.
The Fear and Greed Index is derived by analyzing various data such as social media, market trends, volatility, etc. 0 points means that everyone is scared to death, 50 points means that the market sentiment is stable, and 100 points means extreme greed.
Looking back at history, the Fear and Greed Index has gone from a low of 32 points on October 11 to 71 points now, which is as exciting as a roller coaster ride! The last time the Fear and Greed Index was so high was in late July. Since then, Bitcoin has rebounded from $56,000 to $68,000. But then due to some crises, the price fell back.
At the same time, some analysts believe that when everyone feels fear when the price falls, it is usually a good time to buy. When prices rise and people start to get greedy, it may mean that FOMO (fear of missing out) is at work and prices may have to pull back.
Some people also say that although Bitcoin may fluctuate in the next few days, considering the rising market demand and everyone's expectations for the second wave of the bull market, the possibility of a price correction is not high.
💬Finally, how long do you think this greedy trend will last? Are you ready to take advantage of the trend or wait and see? Leave your opinion in the comment section!
