Bitcoin greed and fear index hits 16-month high

Bitcoin greed and fear index hits 16-month high

The Crypto Fear and Greed Index is a composite of different components and factors of the current crypto market. This indicator is updated daily. With changes in market conditions, volatility of crypto assets, market statistics, trading volume, and other factors, this indicator will change.

This indicator helps investors to make the right move in the market. The general indication is that when there is extreme fear, it can be a buying opportunity. Likewise, when there is too much greed in the market, investors should prepare for a correction.

According to data from AlternativeBitcoin’s fear and greed index hit a 16-month high of 69 after hitting a high of 68 on March 21, 2023.

Bitcoin Fear & Greed Index hits 16-month high

In January 2023, Bitcoin entered the “greedy” phase for the first time since March 2022. Accordingly, the greed index is green and stands at 69 at press time.

The value of Bitcoin has steadily increased following the collapse of several banks. According to CoinGecko data, Bitcoin has gained 7.1% in the past 30 days, 4.1% in the past 14 days, and 3.7% in the past seven days.

As of now, the BTC price is trading at $29,402, an improvement from the monthly low of $26,606. The cryptocurrency briefly touched $31,005 before dropping to its current price.

See also: Bitcoin could peak at $45000 in May

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