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 the Christmas and New Year period, despite the NYSE still being open, most fund managers are on vacation in warm Hawaii or Florida.
Retail investors are also selling some of their coins for holiday spending to buy gifts, so with the big players on vacation and retail spending, the crypto market is expected to perform weakly in the next couple of weeks, which is in line with the trend.
I think the market should kick off in early January, when Wall Street returns to the battlefield and retail investors come back to the crypto space after the holidays. Plus, on January 20th, there’s Trump’s inauguration and Bitcoin's strategic reserves, which I believe will likely lead to a surge.
So before January 20th, I remain hopeful. Besides mainstream coins, smaller coins like Doge, Pepe, Uni, or AAVE are also quite good.
The current price may not be the absolute bottom, but rather than being stuck in a short-term loss, I'm more afraid of missing out, so I will buy some when prices dip, patiently awaiting Trump's prosperous era.