Bitcoin Greed Index finally overcomes “fear” after more than 9 months

English Jan 16, 2023

Yesterday, Bitcoin's Fear and Greed Index hit a "Neutral" level of 52, the highest since April 5, 2022, breaking the longest streak of extreme fear.

On January 16, the index returned to 45, which puts it back in the "Fear" category, suggesting that confidence has not yet been fully recovered but suggests it is on the way, after all, the price of the currency has remained stable while presenting gradual recovery.

The Fear and Greed Index uses "movements and sentiments from different sources", including current volatility, trading volume, social media posts, Google Trends data, and more.

In recent weeks, Bitcoin has had its second longest winning streak in history, with back-to-back 12-day gains this month.

Although prices have not reflected the fundamentals, the most popular cryptocurrency in the world has never stopped growing, having continued its adoption curve and reached more than a million wallets with at least 1 btc.

In terms of price, the asset is up 28% since the start of this year and is now above $21,000, wiping out all losses in the crash that followed the FTX collapse in early November.

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Morel Hernandes

Writer passionate about politics, economics, blockchain and crypto-currencies.