{"id":435264,"date":"2020-08-18T02:00:32","date_gmt":"2020-08-18T02:00:32","guid":{"rendered":"https:\/\/ktsl888.com\/?p=435264"},"modified":"2020-08-17T16:26:36","modified_gmt":"2020-08-17T16:26:36","slug":"crypto-market-enters-extreme-greed-territory-as-bulls-grow-aggressive","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/crypto-market-enters-extreme-greed-territory-as-bulls-grow-aggressive\/","title":{"rendered":"Crypto Market Enters \u201cExtreme Greed\u201d Territory as Bulls Grow Aggressive"},"content":{"rendered":"
The crypto market has been caught in the throes of an incredibly strong uptrend ever since it bottomed in mid-March.<\/p>\n
The decline seen at this time was intense, with Bitcoin plunging to lows of $3,800 while Ethereum set lows within the sub-$100 region.<\/p>\n
The intensity of this downturn came about due to a cascade of liquidations, and the subsequent rebound helped BTC break its correlation with the stock market and start trading in a similar fashion to other safe haven assets like gold and silver.<\/p>\n
Despite the fundamental strength underpinning the strong multi-month uptrend, investor greed is now reaching historic highs.<\/p>\n
This metric typically used as a counter-indicator by traders, with the cryptocurrency\u2019s uptrends<\/a> often ending once investors grow too greedy.<\/p>\n The crypto market<\/a> is currently being controlled firmly by bulls, who have sent prices rocketing higher.<\/p>\n Virtually all major digital assets have been able to post massive gains over the past few weeks, with Bitcoin\u2019s somewhat slow ascent providing altcoins with an ideal backdrop to rally against.<\/p>\n One sector in particular that has been benefiting greatly from this recent market-wide rally has been DeFi, as many of the tokens that fall under this category have been posting meteoric gains.<\/p>\n This has created an environment similar to that seen in 2017, where investors will throw money at just about any token under the sun \u2013 given that it has unique code, a cool logo, and a functional website.<\/p>\n One byproduct of this has been growing greed within the markets. In the past, massive spikes in investor greed have come about just before trend reversals.<\/p>\n <\/p>\n Although investor greed \u2013 per the Fear & Greed Index \u2013 is not quite where it was in the summer of 2019, it is starting to reach historic highs.<\/p>\n Although this may mean that the market-wide uptrend is quickly approaching its end, analysts are still noting that Bitcoin may have room to rally significantly higher.<\/p>\n Bitcoin\u2019s latest push higher \u2013 which came about this morning when it rallied from $11,900 to highs of $12,500 \u2013 marked a bullish breakout that indicates further upside is imminent.<\/p>\n \u201cBitcoin bulls accelerating after shakeout following 12k ascending triangle break,\u201d one analyst explained<\/a> while pointing to the chart seen below.<\/p><\/blockquote>\n <\/p>\n The ongoing crypto market bull run<\/a> may just be getting started, but historically high greed amongst investors is one bear-favoring factor that should be carefully considered.<\/p>\n The crypto market has been caught in the throes of an incredibly strong uptrend ever since it bottomed in mid-March. The decline seen at this time was intense, with Bitcoin plunging to lows of $3,800 while Ethereum set lows within the sub-$100 region. The intensity of this downturn came about due to a cascade of liquidations, and the subsequent rebound helped BTC break its correlation with the stock market and start trading in a similar fashion to other safe haven assets like gold and silver. Despite the fundamental strength underpinning the strong multi-month uptrend, investor greed is now reaching historic highs. This metric typically used as a counter-indicator by traders, with the cryptocurrency\u2019s uptrends often ending once investors grow too greedy. Investor Greed Reaches New Highs as Market-Wide Crypto Uptrend Persists The crypto market is currently being controlled firmly by bulls, who have sent prices rocketing higher. Virtually all major digital assets have been able to post massive gains over the past few weeks, with Bitcoin\u2019s somewhat slow ascent providing altcoins with an ideal backdrop to rally against. One sector in particular that has been benefiting greatly from this recent market-wide rally has been DeFi, as many of the tokens that fall under this category have been posting meteoric gains. This has created an environment similar to that seen in 2017, where investors will throw money at just about any token under the sun \u2013 given that it has unique code, a cool logo, and a functional website. One byproduct of this has been growing greed within the markets. In the past, massive spikes in investor greed have come about just before trend reversals. Although investor greed \u2013 per the Fear & Greed Index \u2013 is not quite where it was in the summer of 2019, it is starting to reach historic highs. BTC\u2019s Strength Suggests There\u2019s Room for Further Upside Although this may mean that the market-wide uptrend is quickly approaching its end, analysts are still noting that Bitcoin may have room to rally significantly higher. Bitcoin\u2019s latest push higher \u2013 which came about this morning when it rallied from $11,900 to highs of $12,500 \u2013 marked a bullish breakout that indicates further upside is imminent. \u201cBitcoin bulls accelerating after shakeout following 12k ascending triangle break,\u201d one analyst explained while pointing to the chart seen below. Image Courtesy of Cheds. Chart via TradingView. The ongoing crypto market bull run may just be getting started, but historically high greed amongst investors is one bear-favoring factor that should be carefully considered. Featured image from Unsplash. Charts and pricing data via TradingView.<\/p>\n","protected":false},"author":499,"featured_media":435267,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[1144,78790,76835],"class_list":["post-435264","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-btcusd","tag-btcusdt","tag-xbtusd"],"acf":[],"yoast_head":"\nInvestor Greed Reaches New Highs as Market-Wide Crypto Uptrend Persists<\/strong><\/h2>\n
BTC\u2019s Strength Suggests There\u2019s Room for Further Upside<\/strong><\/h2>\n
Image Courtesy of Cheds. Chart via TradingView.<\/a><\/pre>\n
Featured image from Unsplash.\r\nCharts and pricing data via TradingView.<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"