Bitcoin Greed Index Plummets! When Will the New Market Begin?
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 begun its hibernation. During Christmas and New Year, although the NYSE is still open, most fund managers are on vacation in warm Hawaii or Florida.
Retail investors also need to sell some coins to purchase gifts and celebrate, so with major investors on vacation and retail spending, the crypto market will exhibit weakness in the next week or two, which is in line with the pattern.
I believe the market will start to rally in early January when Wall Street returns to the battlefield, and retail investors come back to the crypto world after the holidays. Additionally, on January 20th, there will be Trump's inauguration and Bitcoin's strategic reserves, which could create a significant surge.
Therefore, before January 20th, I remain hopeful. Apart from mainstream coins, smaller coins like Doge, Pepe, Uni, or AAVE are quite good, and there are bullish opportunities.
The current price may not be the absolute bottom, but compared to being stuck in a short-term loss, I fear missing out more, so I will buy some when prices dip, patiently waiting for Trump's prosperous era.
