{"id":11029,"date":"2023-03-21T06:25:52","date_gmt":"2023-03-21T06:25:52","guid":{"rendered":"https:\/\/cryptoheretostay.com\/?p=11029"},"modified":"2023-03-21T06:25:52","modified_gmt":"2023-03-21T06:25:52","slug":"crypto-fear-and-greed-index-hits-highest-level-since-bitcoins-all-time-high","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=11029","title":{"rendered":"Crypto Fear and Greed Index hits highest level since Bitcoin\u2019s all-time high"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>The Crypto Fear and Greed Index has hit its highest index score this year, reaching levels not seen since Bitcoin (BTC) posted its all-time high in November 2021.<\/p>\n<p>A March 20 update of the Index showed a score of 68, placing it firmly within the &#8220;Greed&#8221; territory.<\/p>\n<p><em>The Index&#8217;s score of 66 as shown on March 20. Source: alternative.me<\/em><\/p>\n<p>The Crypto Fear and Greed Index aims to numerically present the current &#8220;emotions and sentiments&#8221; towards Bitcoin and the cryptocurrency market, with the highest score being 100.<\/p>\n<p>The last time the index recorded a score above 66 was on Nov. 16, 2021, just days after Bitcoin&#8217;s all-time high of over $69,000 was recorded on Nov. 10, 2021, according to Coingecko.<\/p>\n<p><em>All time chart of the Index, Nov. 16, 2021, was the last time it recorded a score above 60. Source: alternative.me<\/em><\/p>\n<p>Sentiment around BTC and crypto has been bullish since the collapse of Silicon Valley Bank and the resulting fallout in the traditional financial system.\u00a0<\/p>\n<p>Over the past seven days, Bitcoin has recorded gains of around 27.8% as per Coingecko data, and hit $28,000 for the first time since June 2022.<\/p>\n<p>Crypto financial services Matrixport&#8217;s head of research Markus Thielen suggested in a March 20 analysis that there is more upside on the cards for BTC, as the \u201cliquidity story continues to be in Bitcoin\u2019s favor.\u201d\u00a0<\/p>\n<p>The analyst has adjusted his near-term price target to $36,000 by June 2023, while he has tipped a year-end target of $45,000.\u00a0<\/p>\n<p><em>Matrixport head of research Markus Thielen has predicted Bitcoin could be on the way to $36,000 in the next few months. Source:\u00a0<\/em><em>Matrixport<\/em><\/p>\n<p>Meanwhile, Charles Edwards, founder and CEO of investment firm Capriole, predicted an even more ambitious price target of $100,000 for BTC.\u00a0<\/p>\n<p>In a March 14 tweet, Edwards, called BTC price action in 2023 a &#8220;Textbook perfect Bitcoin &#8216;Bump &amp; Run Reversal&#8221;, and based on his interpretation of the data, he thinks &#8220;The target is over $100,000.&#8221;<\/p>\n<p>However, he did note that, &#8220;chart patterns do fail, don&#8217;t use this as a trading \/ investment plan. Manage your risks!&#8221; <\/p>\n<p>Ryan Selkis, founder and CEO of crypto analytics firm Messari shared a similar \u201crough\u201d prediction in a March 16 post, explaining why he thought over the next twelve months it was possible for BTC to hit $100,000.\u00a0<\/p>\n<p>According to Selkis, a combination of bank failures and changes to federal monetary polices will see more outside investment into crypto.<\/p>\n<p lang=\"en\" dir=\"ltr\">My rough prediction for the next twelve months:<\/p>\n<p>1. More bank failures in the next couple of weeks.<br \/>2. Fed cuts \/ QE is back!<br \/>3. BTC climbs, sustained moderate inflation.<br \/>4. &#8220;Outside Money&#8221; \/ &#8220;Sound Money&#8221; -&gt; $100k \/ BTC.<br \/>5. Institutions buy faster than Feds can shut down.<\/p>\n<p>Game.<\/p>\n<p>\u2014 Ryan Selkis  (@twobitidiot) March 17, 2023<\/p>\n<p>\u00a0\u201cBut the key is threading the needle so institutions can buy it and defend it alongside of us. Best case scenario right now,\u201d Selkis said.\u00a0<\/p>\n<p>\u201cThis is an optimistic bet on the future, as BTC is treated as a life raft and peaceful exit option,\u201d he added.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Bitcoin stays out of fear for 11 straight days as price tips near 24K<\/em><\/strong><\/p>\n<p>Bitcoin has been ranked by investment firm Goldman Sachs as the top performing asset this year, gaining 51% in year-to-date absolute returns. <\/p>\n<p>Goldman Sachs has revealed Bitcoin has outpaced many traditional investment assets. Source: Goldman Sachs<\/p>\n<p>In a March 17 note, the asset manager revealed Bitcoin\u2019s total returns YTD has outpaced the likes of information technology, gold, the NASDAQ 100 and the S&amp;P 500, among others.\u00a0<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/crypto-fear-and-greed-index-hits-highest-level-since-bitcoin-s-all-time-high\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Crypto Fear and Greed Index has hit its highest index score this year, reaching levels not seen since Bitcoin (BTC) posted its all-time high in November 2021. A March 20 update of the Index showed a score of 68, placing it firmly within the &#8220;Greed&#8221; territory. The Index&#8217;s score of 66 as shown on [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11030,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-11029","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11029","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11029"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11029\/revisions"}],"predecessor-version":[{"id":11031,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/11029\/revisions\/11031"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/11030"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11029"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11029"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11029"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}