Crypto Fear and Greed Index: The Tool Investors Are Using to Make Informed Decisions
Cryptocurrency is becoming more mainstream with each passing day, and with the increasing interest comes fluctuating market sentiment. This is where the Crypto Fear and Greed Index comes in.
The Crypto Fear and Greed Index is a tool that numerically presents the current emotions and sentiments towards Bitcoin and the cryptocurrency market. It ranges from 0 to 100, with 0 indicating extreme fear and 100 indicating extreme greed. This tool is updated daily to reflect the current market trends, and its aim is to help investors make informed decisions.
New All-Time High: Crypto Fear and Greed Index Reaches Levels Not Seen Since 2021
Recently, the Crypto Fear and Greed Index hit its highest index score since November 2021, when Bitcoin reached its all-time high of over $69,000. The latest update showed a score of 68, placing it firmly within the “Greed” territory. This indicates that market sentiment is currently positive, with investors feeling bullish about the future of cryptocurrency.
Market Sentiment Turns Positive: Investors Bullish on the Future of Cryptocurrency
The sentiment around BTC and crypto has been bullish since the collapse of Silicon Valley Bank and the resulting fallout in the traditional financial system. In the past seven days, Bitcoin has recorded gains of around 27.8% and hit $28,000 for the first time since June 2022.
Experts Predict Bitcoin Prices Will Reach $100,000 in the Near Future
Markus Thielen, head of research at crypto financial services Matrixport, has adjusted his near-term price target for BTC to $36,000 by June 2023, while he has tipped a year-end target of $45,000. Meanwhile, Charles Edwards, founder and CEO of investment firm Capriole, predicted an even more ambitious price target of $100,000 for BTC.
Ryan Selkis, founder and CEO of crypto analytics firm Messari, also shared a similar prediction in a recent post, explaining why he thought over the next twelve months it was possible for BTC to hit $100,000. According to Selkis, a combination of bank failures and changes to federal monetary policies will see more outside investment into crypto.
Goldman Sachs Ranks Bitcoin as the Top Performing Asset of the Year
In March, investment firm Goldman Sachs ranked Bitcoin as the top performing asset this year, gaining 51% in year-to-date absolute returns. Bitcoin’s success and the increasing interest in cryptocurrency indicate that it is becoming a more mainstream investment option. As with any investment, it is important to do your research and stay informed about market trends before making any decisions.
About Sheesha Finance
Sheesha Finance is a decentralized, tokenized incubator and accelerator that’s helping web3 startups across all industries and blockchain networks build products and services that solve real-world teething problems. Based in the MENA region, Sheesha Finance is one of the first platforms to provide everyday investors with access to a diverse portfolio of early-stage projects, and its smart contract-based system is fully autonomous, making it efficient and user-friendly for both institutional and retail investors.
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Writer: Nathan Cooper, Chief Program and Innovation Officer at Sheesha Finance
