Bitcoin Greed Index Plummets! When Will the New Market Start?
The Greed Index has dropped from 95 last month to 70 now, which is a very healthy correction.
Now the biggest financial backer in the crypto world, Wall Street, has started hibernating. During the Christmas and New Year holidays, although the NYSE is still open, most fund managers are on vacation in warm Hawaii or Florida.
Retail investors, on the other hand, also need to sell some coins to buy gifts and celebrate the holidays, so with the financial backers on vacation and retail consumption occurring, the crypto market will likely show weakness in the next week or two, which is consistent with the pattern.
I believe the market should start to rally in early January, when Wall Street returns to the battlefield, retail investors come back to the crypto world after the holidays, and on January 20th, there will be the inauguration of Trump and the Bitcoin strategic reserve, which I think will likely lead to a surge.
So before January 20, I remain hopeful. Besides mainstream coins, smaller coins like Doge, Pepe, Uni, or AAVE are quite good, and there are opportunities for a bull run.
The current price may not be the absolute bottom, but compared to being temporarily trapped, I'm more afraid of missing out, so I will buy some when there are dips, quietly waiting for Trump's prosperous era.
