Since Bitcoin significantly raised its value during the last week and hit 28,000$, sentiments towards the crypto market have been highly positive. With the rising price, Bitocin’s fear and greed index hit its highest high since 2021. The index reached 66 points which is definitely a “greed” indicator.
What is a crypto fear index?
Bitcoin’s fear and greed index is a tool that helps to estimate buyers’ sentiment towards cryptocurrency at the moment. It uses a 100-point scale where the bigger the number, the higher the level of greed is. Usually, the greed tendency appears when the market is rising. But, on the other hand, when people are in fear, they can irrationally start selling their coins which could be a good opportunity for buyers.
The fact that the fear and greed index reached 66 points is significant since the last time it went that high was on November 10, 2021, when Bitcoin reached its all-time highest value.This time, it is again a rapid increase in Bitcoin price, which became a reason for such a high greed index.
What are Bitcoin price predictions?
On March 18, Bitcoin reached 28,00$ bar, and everyone is anticipating what’s going to happen next. The predictions are optimistic for Bitocin due to the impending banking crisis and the Silicon Valley Bank’s collapse. According to the Matrixport head of research Markus Thielen, the next threshold for Bitocin is 36,00$, which he believes BTC would be able to reach by June 2023. Moreover, Theinen claims that by the end of this year, Bitcoin’s value will rise to 45,000$.
However, there are other, even brighter predictions for Bitcoin’s price. Thus, according to the founder and CEO of investment firm Capriole, Charles Edwards, Bitocin’s new target would be 100,000$. Theinen’s prediction was supported by Ryan Selkis, founder and CEO of Messari, who also shared his thoughts on why Bitcoin is likely to reach 100,000$ in a year.
How to buy Bitcoin?
Now that Bitcoin finally seems to come into its bull era, it’s a great time to invest in it. It’s essential to stay tuned and track all the changes in the crypto market to be able to use them in your favor. And the banking crisis and the rising tendency show that it’s a perfect time to buy Bitcoin. When choosing how to buy crypto, one should consider using crypto exchanges. Such exchanges are safer than ATMs since they have customer support. They also provide their users with safety and allow them to buy Bitcoin and other cryptos quickly. Finding a reliable crypto exchange, such as B2Cash in Prague, is highly important as such exchanges usually offer attractive commissions and even special offers for their regular customers.