The Bitcoin price has risen quite spectacularly from just over $ 9,000 to around $ 11,000 in the past few days, and there is much speculation about the potential causes. Hardly anyone was surprised by the development. So far, Halving’s scarce supply has had little impact on the price, which meandered between $ 9,000 and $ 9,200 for a long time. Although that was probably not due to the lack of demand.
But somewhere all the money has to go with which the market is currently flooded and Bitcoin is also playing an increasing role for institutional investors in this context.
The fear-and-greed index
In this context, there is something that should help assess the current price development: the Crypto Fear and Greed Index (which is actually just a Bitcoin Fear and Greed Index).The idea is to describe the emotional component after which investment decisions are made. Fear means that investors are more concerned. If the pointer is on greed, a course correction could be imminent. According to the index, we are currently in a phase of extreme greed and if you want to follow the website’s recommendations, you should think about taking the profits with you and selling them.