The “greed” period in crypto: What awaits Bitcoin?

While the rise in the crypto market continues, it was seen that the risk appetite increased in the Fear and Greed Index, an important metric. According to the data, the index, which had a “fear” rating in August, has recently increased to the “greed” level. The index, evaluated out of 100, has exceeded 60 points.

Bitcoin, which is traded above $65,000 and is shown as one of the critical resistance points, may be preparing for a potential rally.

The Fear and Greed Index, which fell to 17 points on August 6 and reached its lowest level of the year, started to give FOMO signals when the Bitcoin ($BTC ) price exceeded $65,000.

The index, which reached 64 points on September 28, created anxiety in the crypto market. The index, which presents emotions and thoughts numerically, is prepared based on market dominance, social media interactions, investor behavior and market volatility.

The last time the index exceeded 64 points on July 30, BTC was at $66,000.

In a report dated September 27, 10x Research research director Markus Thielen said that BTC rising above $65,000 could create fear of missing out (FOMO) in the market. Thielen said he expects a crypto rally in the last quarter of the year.

Capriole founder and CEO Charles Edwards argued that traders will abandon gold and other stocks and enter crypto. Edward said;

“The capital flow from gold and stocks to Bitcoin will continue unabated over the next 6 months.”

Asset management giant VanEck named BTC, which has increased by 124 percent in the last 12 months, as the best performing asset of the year.

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