Bitcoin Fear and Greed Index increases to 16-month high, since BTC exceeds $ 28,000

Bitcoin Fear and Greed Index increases to 16-month high, since BTC exceeds $ 28,000

The Fear and Greed Index-a key figure that shows the general mood towards Bitcoin-is currently 66, the highest level since November 2021.

A factor behind the predominantly optimistic perspective of investors could be the impressive price development of primary cryptocurrency, which has increased by almost 30 % last week.

Greed among investors

Most cryptocurrencies, including Bitcoin, have recently shown a remarkable resistance to global economic problems that have risen to a level that has not been seen for several months. The primary digital asset lately tapped $ 28,500, which increases the price by almost 30 % in a week.

The Rally seems to have had an impact on the popular Bitcoin Fear and Greed Index-a key figure that pursues numerous segments such as price volatility, comments on social media and surveys to determine the current investment towards BTC.

At the moment it is in the "greed" territory and shows to 66. The last time the index reached this brand was in mid-November 2021, a few days after Bitcoin Span Data Preserver-Spaces = "True" Data Preserver-Spaces = "True"> its all-time high price of almost $ 70,000.

Fear & greed index, alternative.me

The bullish attitude towards the asset, with the view of some crypto supporters, coincides that the bear market has finally loosened its grip. They believe that the asset class could continue its impressive performance against the background of a possible banking crisis.

Bitcoin and the old coins still have to be put to the test after the US Federal Reserve has announced the results Data Preserver-Spaces = "True"> fomc session on March 22nd. The institution is expected to raise the interest rates by 25 basis points, which has led to considerable price fluctuations for the primary cryptocurrency on earlier occasions.

The founder of Doubleline Capital-Jeffrey Gundlach (better known as "Bond King"), Fed is 0.25 %. However, he predicted that this will be the last thing that indicates that the central bank will pass to other measures to combat inflation.

Completely different image than 2022

to see how Bitcoin enters the "greed" zone, compared to the trends of the past year, when the index mainly flashed with "fear" or "extreme fear", how to be like a Fata Morgana.

Some of the reasons that caused such uncertainty were the countless burglaries and scandals in the industry last year, with The Terra Lint Celsius Bankrott and FTX doom is one of the notorious examples.

In any case, the lower prices for digital assets could have shown good purchase opportunities for investors last year, while the current "greed" mood could lead to a possible correction. A proponent of this investment is Warren Buffett - a legendary investor and one of the sharpest critics of crypto.

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