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🧨 Fear & Greed Index: Bitcoin Investors Getting Greedier
The Bitcoin downtrend is over. According to the Fear & Greed Index, investors are getting greedier. A positive sign for the BTC bull run? The Bitcoin price has recovered from its local low of around $54,200 in early July and is pulling the crypto market up with it. Although it is still about 10 percent below its all-time high, sentiment among BTC investors is becoming increasingly positive. An important sentiment barometer: the Fear & Greed Index. The development of the index shows that the fear prevailing among BTC investors in the first half of the month has now given way to greed. 😎
Currently, the leading cryptocurrency is trading at around $66,450, up 8.04 percent from the previous month. The Fear & Greed Index is composed of various metrics, including trading volume, volatility, social media trends, and dominance. Especially at the beginning of the month, its reading dropped significantly, reaching a yearly low of 25 points on July 12. Many traders were worried about BKA sales, Bitcoin ETF outflows, and Mt. Gox payouts. 😱
Is Bitcoin Overheated? 🔥
The Fear & Greed Index is now back at 69 points, slightly in the green, indicating "greed." In contrast, the average value for the past month was 51 points, which is in the neutral range. Committed Bitcoiners who bought during the recent phases of extreme fear deserve congratulations. Already, some of them are more than ten percent in the green with their BTC investment. Generally, however, the Fear & Greed Index should not be understood as a clear signal for or against a Bitcoin investment, as a single indicator cannot capture the complexity of the market. The one-year chart of the Fear & Greed Index shows that a reading of 69 does not necessarily imply overheating. 📈
#bitcoin #investing #money #trading #btc #bitnewstoday
The Bitcoin downtrend is over. According to the Fear & Greed Index, investors are getting greedier. A positive sign for the BTC bull run? The Bitcoin price has recovered from its local low of around $54,200 in early July and is pulling the crypto market up with it. Although it is still about 10 percent below its all-time high, sentiment among BTC investors is becoming increasingly positive. An important sentiment barometer: the Fear & Greed Index. The development of the index shows that the fear prevailing among BTC investors in the first half of the month has now given way to greed. 😎
Currently, the leading cryptocurrency is trading at around $66,450, up 8.04 percent from the previous month. The Fear & Greed Index is composed of various metrics, including trading volume, volatility, social media trends, and dominance. Especially at the beginning of the month, its reading dropped significantly, reaching a yearly low of 25 points on July 12. Many traders were worried about BKA sales, Bitcoin ETF outflows, and Mt. Gox payouts. 😱
Is Bitcoin Overheated? 🔥
The Fear & Greed Index is now back at 69 points, slightly in the green, indicating "greed." In contrast, the average value for the past month was 51 points, which is in the neutral range. Committed Bitcoiners who bought during the recent phases of extreme fear deserve congratulations. Already, some of them are more than ten percent in the green with their BTC investment. Generally, however, the Fear & Greed Index should not be understood as a clear signal for or against a Bitcoin investment, as a single indicator cannot capture the complexity of the market. The one-year chart of the Fear & Greed Index shows that a reading of 69 does not necessarily imply overheating. 📈
#bitcoin #investing #money #trading #btc #bitnewstoday