Crypto market sentiment has entered a period of extreme greed!
The Fear and Greed Index soared to 90 this week, officially reaching the state of extreme greed.
Looking back at the past few years, there have been three times when the level reached 90 or even higher:
At the end of June 2019, at the end of October 2020-early February 21, and at the beginning of March 24. The first and third times soared to 90 and quickly turned downward, and the market also reversed quickly.
Only from October 2020 to the first quarter of 2021, the Fear and Greed Index remained in an extremely greedy state of over 90 for more than ten weeks, with the greed index reaching a maximum of 95.
The logic here is: in a bear-to-bull market, the state of extreme greed is unsustainable. However, the state of extreme greed during the bull market climax can last for a long time until the emotions are exhausted. Which previous time will this be similar to?
Bitcoin's trend is very healthy; don't always think about a pullback when the trend arrives. The daily level has just begun, which means that if it doesn't surge to 100,000+, the market has no desire for a pullback. It is expected to surge to 100,000+ soon.
Some altcoins have also seen significant gains in the past few days, with Om leading the entire Rwa track to take off, and then on the public chain level, Hbar and Xtz have also experienced significant increases.
Bull markets will rise; the question is how much they will rise.
The thousand-year-old second place, Ethereum, when will it rise?
When Bitcoin was at 40,000, ETH was at 3,000; when Bitcoin was at 60,000, ETH was still at 3,000. Now Bitcoin is at 90,000, and ETH is still at 3,000. Fans often message asking why I don't talk about ETH. Now that it has dropped so much, what is there to talk about? The last round of ETH was strong because both ICOs and DeFi needed a large amount of ETH, so it rose from the low of 80 in 2018 to nearly 5,000 in the last round, but what does ETH have in this round?
It was not easy to get an ETF, but everyone rushed to Bitcoin, and with SOL lurking nearby, I said before that if I had to choose, at least for now, I would choose SOL.
So what about the second place? I have some personal views:
The ETF opens staking, and although the yield is not high, it is still a big temptation for large finance. Additionally, as the yield of old U.S. bonds continues to decline, staking ETH will become increasingly attractive.
Another thing is waiting for the capital to flow back to Ethereum and for its catch-up, but these are all things for later. The main upward wave is likely in the mid to late stages, but for those currently holding, waiting is a kind of torture. As for what to do now, we don't necessarily have to be entangled; at least for now, there are still better options in this round.
Although we can't see enough reasons for it to rise at the moment, there is still hope for the future!
Bull markets are divided into different stages, and it's very difficult for ordinary retail investors to benefit from every stage:
For example, last year's inscription market, the AI DEPIN RWA market at the beginning of the year, the later Sol Ton Sui market, and the Pump Meme market that ran through the entire bull market, to the recent nationwide PvP market, I believe most people can only catch one or two waves of opportunities.
Although it may cause your wealth to grow rapidly, the entire bull market process is long, and there will be various pitfalls waiting for you in the middle.
For example, over the weekend, Dexx was taken down, and many friends' PvP results disappeared instantly. In the last round of Fb mining, many people put all the money they earned from inscriptions and runes into Fb, only to be harvested. However, the BN mining pool added Fb to the BTC mining rewards, which directly revived Fb, doubling it instantly.
The logic of this round's market is very chaotic. If you follow path dependence and still use rational and data-driven thinking to discover valuable projects, then you are likely left with a bunch of worthless VC coins, while the meme coins that you look down upon, which seem like scams at first glance, like the cult coin leader Spx, can yield hundredfold returns.
When you can accept that their practices are reasonable, you will truly understand how to play in this bull market. In short, follow the trend and don't show off!
The madness of DOGE, this is just the beginning? The next big surge could be right around the corner!
Don't be fooled by the recent softness of Dogecoin; it hasn't even unleashed its power yet! Many people think the bull market for Dogecoin is over, but I want to tell you, this is just the beginning!
Imagine if the price of Dogecoin could break through an important threshold, like $0.44, it might skyrocket like a rocket, racing to $0.58! This is not nonsense; according to technical analysis, this possibility does exist.
