The aim of the Crypto Fear and Greed Index is to provide a numerical representation of the prevailing “emotions and sentiments” towards Bitcoin and the cryptocurrency market, where the maximum score is 100. It’s become an extremely popular indicator in the last few years and one of simplest for people to understand. We are currently sat at 68 on the fear & greed index.
On November 16, 2021, the index last recorded a score above 66, which was just a few days after Bitcoin reached its all-time high of over $69,000 on November 10, 2021. In the last seven days, Bitcoin has seen gains of approximately 27.8% and has reached $28,000 for the first time since June 2022 prompting many investors to jump back into the market and call a new bull run.
Although Bitcoin has made a major move up in the last few weeks a lot of bears are still concerned about a lack of liquidity in the market, with ongoing inflation worries and the recent banking collapse story still unfolding. Either way Bitcoin is up over 58% from January 1st 2023, This story is ongoing
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