• Bitcoin investors are exhibiting a strong and bullish market sentiment with the Fear & Greed Index currently at 64.
• The index uses social media posts and Google Trends to gauge the mood of the bitcoin market.
• Popular market analyst Michael van de Poppe believes that if Bitcoin remains above $25,300, it will continue to rally towards the $40,000-$50,000 level.
Bitcoin Investors Showing High Level Of Optimism
Bitcoin (BTC) investors are showing a high level of optimism despite the recent price volatility, with the Fear & Greed Index tracked by Coinstats Explorer indicating a strong and bullish market sentiment. Currently, at a level of 64, the index is very close to the year’s high, suggesting that investors are more greedy than fearful.
How Is The Fear & Greed Index Calculated?
The Fear & Greed Index uses a variety of factors, including social media posts and Google Trends, to gauge the mood of the bitcoin market and assigns a score from 0 to 100. A score above 55 indicates a prevailing sense of greed, while a score below 45 indicates fear. Despite recent price fluctuations between USD 31,000 and USD 26,600, the index shows that BTC investors remain optimistic about the future of cryptocurrency.
Will Bitcoin Hit $40k?
The recent price surge in past week has resulted in renewed predictions from analysts and stakeholders about future of leading coin. While some believe major correction is coming; others have positive view of market trend such as popular market analyst Michael van de Poppe who believes correction is healthy for Bitcoin predicting that if Bitcoin remains above $25300 it will continue rally towards $40000-$50000 levels. He further displayed his thoughts using chart showing this price level had been key in past serving as support or resistance zone for Bitcoin maximums or minimums in 2021 or 2022 respectively.
Record Win At BitStarz Casino
BitStarz Player Lands $2459124 Record Win! Could you be next big winner? 570% up to 12 BTC + 300 Free Spins for new players & 1 BTC in bonuses every day only at Wildio Play Now!
Mastercard’s Head Of Crypto Seeks More Partnerships
Mastercard’s Head Of Crypto Seeks More Partnerships Amid Growing Regulatory Scrutiny Van de Poppe believes that with Bitcoin’s appreciation of over 60% so far this month its important to prepare for any potential corrections however he still remaining bullish predicting BTC prices hitting 40000-50000 levels soon if current conditions remain same .
