{"id":574175,"date":"2024-02-09T17:00:26","date_gmt":"2024-02-09T17:00:26","guid":{"rendered":"https:\/\/ktsl888.com\/?p=574175"},"modified":"2024-06-11T08:09:24","modified_gmt":"2024-06-11T08:09:24","slug":"bitcoin-flies-above-46500-watch-extreme-greed","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-flies-above-46500-watch-extreme-greed\/","title":{"rendered":"Bitcoin Flies Above $47,300, But Watch Out For Extreme Greed"},"content":{"rendered":"

Bitcoin is finally showing a sustained bullish push as it has now broken above $47,300, but overly positive sentiment can be an obstacle to this rally.<\/p>\n

Bitcoin Fear & Greed Index Suggests Market Is Nearing Extreme Greed<\/h2>\n

The “Fear & Greed Index<\/a>” is an indicator that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency sector. According to Alternative<\/a>, its creator, the index takes into account five factors to calculate this sentiment.<\/p>\n

These are volatility, market volume, social media sentiment, market cap dominance, and Google Trends. The index outputs the sentiment as a number lying between zero to hundred.<\/p>\n

Related Reading: Ethereum Breaks Above $2,400: This Metric Points To Further Upside<\/a><\/div>\n

All values of 46 and under imply the investors are fearful, while those of 54 or over suggest the presence of greed in the market. The region between 47 and 53 corresponds to the region of neutral sentiment.<\/p>\n

Now, here is what the Fear & Greed Index looks like for Bitcoin right now to see which of these regions the market stands in at present:<\/p>\n

\"Bitcoin<\/p>\n

The current value of the sentiment according to this index | Source: Alternative<\/a><\/pre>\n
As is visible above, the Bitcoin Fear & Greed Index has a value of 72 at the moment, implying that the majority of the investors in the space share a greedy mentality.<\/p>\n
Besides the three core sentiments mentioned earlier, there are also two extreme ones: the extreme fear and extreme greed. The former of these occurs at values of 25 and under, while the latter takes place at 75 and above.<\/p>\n
Historically, these two sentiments, in particular, have held great significance for the cryptocurrency’s trajectory. Generally, at any point, the asset is more likely to move against the expectations of the majority, and in these extreme regions, this expectation becomes the strongest.<\/p>\n
As such, these sentiments have been where major reversals in the asset have been the most likely to occur. Followers of a trading philosophy called “contrarian investing” exploit this fact to time their buying and selling moves. Warren Buffet<\/a>‘s famous quote sums up the idea, “Be fearful when others are greedy, and greedy when others are fearful.”<\/p>\n
At a value of 72, the Bitcoin market is quite close to entering into the extreme greed region right now. Just yesterday, the metric had a value of 66, which means there has been some jump in just the past 24 hours.<\/p>\n
\"Bitcoin<\/p>\n
Looks like the value of the metric has shot up over the past day | Source: Alternative<\/a><\/pre>\n
This increase in the index has naturally come because of the bullish momentum<\/a> that the asset has enjoyed in the past day. Any further improvements in sentiment, however, may be alarming, as the metric would then enter into the extreme greed territory.<\/p>\n
The last time that the Bitcoin Fear & Greed Index surged into extreme greed values was around the time of the approval of the spot exchange-traded funds (ETFs). As it happened, the coin hit its top, coinciding with this overly bullish mentality.<\/p>\n
Related Reading: Analyst Reveals Potential Trigger For A 32% Cardano (ADA) Rally<\/a><\/div>\n
Thus, if this precedence is anything to go by, any visit into the territory in the coming days may serve as a warning that a top is near for the cryptocurrency.<\/p>\n
BTC Price<\/h2>\n
Bitcoin has enjoyed an uplift of over 6% during the past 24 hours as its price has cleared the $47,300 level.<\/p>\n
\"Bitcoin<\/p>\n
The price of the coin appears to have been going up over the last couple of days | Source: BTCUSD on TradingView<\/a><\/pre>\n
Featured image from Michael F\u00f6rtsch on Unsplash.com, charts from TradingView.com, Alternative.me<\/div>\n","protected":false},"excerpt":{"rendered":"
Bitcoin is finally showing a sustained bullish push as it has now broken above $47,300, but overly positive sentiment can be an obstacle to this rally. Bitcoin Fear & Greed Index Suggests Market Is Nearing Extreme Greed The “Fear & Greed Index” is an indicator that tells us about the general sentiment among the investors in the Bitcoin and wider cryptocurrency sector. According to Alternative, its creator, the index takes into account five factors to calculate this sentiment. These are volatility, market volume, social media sentiment, market cap dominance, and Google Trends. The index outputs the sentiment as a number lying between zero to hundred. Related Reading: Ethereum Breaks Above $2,400: This Metric Points To Further Upside All values of 46 and under imply the investors are fearful, while those of 54 or over suggest the presence of greed in the market. The region between 47 and 53 corresponds to the region of neutral sentiment. Now, here is what the Fear & Greed Index looks like for Bitcoin right now to see which of these regions the market stands in at present: The current value of the sentiment according to this index | Source: Alternative As is visible above, the Bitcoin Fear & Greed Index has a value of 72 at the moment, implying that the majority of the investors in the space share a greedy mentality. Besides the three core sentiments mentioned earlier, there are also two extreme ones: the extreme fear and extreme greed. The former of these occurs at values of 25 and under, while the latter takes place at 75 and above. Historically, these two sentiments, in particular, have held great significance for the cryptocurrency’s trajectory. Generally, at any point, the asset is more likely to move against the expectations of the majority, and in these extreme regions, this expectation becomes the strongest. As such, these sentiments have been where major reversals in the asset have been the most likely to occur. Followers of a trading philosophy called “contrarian investing” exploit this fact to time their buying and selling moves. Warren Buffet‘s famous quote sums up the idea, “Be fearful when others are greedy, and greedy when others are fearful.” At a value of 72, the Bitcoin market is quite close to entering into the extreme greed region right now. Just yesterday, the metric had a value of 66, which means there has been some jump in just the past 24 hours. Looks like the value of the metric has shot up over the past day | Source: Alternative This increase in the index has naturally come because of the bullish momentum that the asset has enjoyed in the past day. Any further improvements in sentiment, however, may be alarming, as the metric would then enter into the extreme greed territory. The last time that the Bitcoin Fear & Greed Index surged into extreme greed values was around the time of the approval of the spot exchange-traded funds (ETFs). As it happened, the coin hit its top, coinciding with this overly bullish mentality. Related Reading: Analyst Reveals Potential Trigger For A 32% Cardano (ADA) Rally Thus, if this precedence is anything to go by, any visit into the territory in the coming days may serve as a warning that a top is near for the cryptocurrency. BTC Price Bitcoin has enjoyed an uplift of over 6% during the past 24 hours as its price has cleared the $47,300 level. The price of the coin appears to have been going up over the last couple of days | Source: BTCUSD on TradingView Featured image from Michael F\u00f6rtsch on Unsplash.com, charts from TradingView.com, Alternative.me<\/p>\n","protected":false},"author":542,"featured_media":574205,"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":[428,84484,6481,86409,89523,1119,1144],"class_list":["post-574175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-extreme-greed","tag-bitcoin-rally","tag-bitcoin-sentiment","tag-bitcoin-surge","tag-btc","tag-btcusd"],"acf":[],"yoast_head":"\nBitcoin Flies Above $47,300, But Watch Out For Extreme Greed<\/title>\n<meta name=\"description\" content=\"Bitcoin is showing a sustained bullish push as it has broken above 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Verma","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ktsl888.com\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/3d9c67b0b4a94fb480d44f29de96266e?s=96&d=mm&r=g","caption":"Keshav Verma"},"description":"Keshav is currently a senior writer at NewsBTC and has been attached to the website since June 14, 2021. Keshav has been writing for many years, first as a hobbyist and later as a freelancer. He has experience working in a variety of niches, even fiction at one point, but the cryptocurrency industry has been the longest he has been attached to. In terms of official educational qualifications, Keshav holds a bachelor\u2019s degree in Physics from one of the premier institutes of India, the University of Delhi (DU). He started the degree with an aim of eventually making a career in Physics, but the onset of COVID led to a shift in plans. The virus meant that the college classes had to be delivered in the online-mode and with it came free time for him to explore other passions. Initially only seeking to make some beer money, Keshav unexpectedly landed clients offering real projects, after which there was no looking back. Writing was something he had always enjoyed and to be able to do it for a living was like a dream come true. Keshav completed his Physics degree in 2022 and has been focusing on his writing career since, but that doesn\u2019t mean his passion for Physics has ended. He eventually plans to re-enter university to obtain a masters degree in the same field, but perhaps only to satiate his own interest rather than for using it as a means to find employment.. Keshav has found blockchain and its concepts fascinating ever since he started going down the rabbit-hole back in 2020. On-chain analysis in particular has been something he likes to research more about, which is why his NewsBTC pieces tend to involve it in some form. Being of the science background, Keshav likes if concepts are clear and consistent, so he generally explains the indicators he talks about in a bit of detail so that the readers can perhaps come out having understood and learnt something new. As for hobbies, Keshav is super into football, anime, and videogames. He enjoys football not only as a watcher, but also as a player. For games, Keshav generally tends towards enjoying singleplayer adventures, with EA FC (formerly FIFA) being the only online game he is active in. Though, perhaps due to being ultra-focused on the game, he is today a semi-pro on the EA FC scene, regularly participating in tournaments and sometimes even taking back prize money. Because of his enthusiasm for anime and games, he also self-learned Japanese along the way to consume some of the untranslated gems out there. The skill didn\u2019t merely remain as just a hobby, either, as he put it to productive use during his exploration for small-time gigs at the start of COVID, fulfilling a couple of Japanese-to-English translation jobs. Keshav is also big into fitness, with agility and acceleration-related workouts making a big part of his program due to the relevance they have in football. On top of that, he also has a more traditional strength based program for the gym, which he does to maintain an overall fitness level of his body.","sameAs":["https:\/\/www.linkedin.com\/in\/keshavverma29\/","https:\/\/x.com\/https:\/\/twitter.com\/keshavvarma29"],"url":"https:\/\/ktsl888.com\/author\/hououinkyouma29\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Flies Above $47,300, But Watch Out For Extreme Greed","url":"http:\/\/ktsl888.com\/news\/bitcoin-flies-above-46500-watch-extreme-greed\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/ktsl888.com\/news\/bitcoin-flies-above-46500-watch-extreme-greed\/"},"thumbnailUrl":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/michael-fortsch-4GD_5kMZmY8-unsplash.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/michael-fortsch-4GD_5kMZmY8-unsplash.jpg?fit=5901%2C3725"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Keshav Verma"}],"creator":["Keshav Verma"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/ktsl888.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin extreme greed","bitcoin rally","bitcoin sentiment","bitcoin surge","btc","btcusd"],"dateCreated":"2024-02-09T17:00:26Z","datePublished":"2024-02-09T17:00:26Z","dateModified":"2024-06-11T08:09:24Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Flies Above $47,300, But Watch Out For Extreme Greed\",\"url\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-flies-above-46500-watch-extreme-greed\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/ktsl888.com\\\/news\\\/bitcoin-flies-above-46500-watch-extreme-greed\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/michael-fortsch-4GD_5kMZmY8-unsplash.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2024\\\/02\\\/michael-fortsch-4GD_5kMZmY8-unsplash.jpg?fit=5901%2C3725\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Keshav Verma\"}],\"creator\":[\"Keshav Verma\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/ktsl888.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin extreme greed\",\"bitcoin rally\",\"bitcoin sentiment\",\"bitcoin surge\",\"btc\",\"btcusd\"],\"dateCreated\":\"2024-02-09T17:00:26Z\",\"datePublished\":\"2024-02-09T17:00:26Z\",\"dateModified\":\"2024-06-11T08:09:24Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/ktsl888.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/02\/michael-fortsch-4GD_5kMZmY8-unsplash.jpg?fit=5901%2C3725","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/574175"}],"collection":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/users\/542"}],"replies":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/comments?post=574175"}],"version-history":[{"count":0,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/posts\/574175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media\/574205"}],"wp:attachment":[{"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/media?parent=574175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/categories?post=574175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ktsl888.com\/wp-json\/wp\/v2\/tags?post=574175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}