Accéder au contenu principal

This Hasn’t Happened to Bitcoin (BTC) in Two Years

TL;DR

  • Bitcoin’s 2023 Surge: Bitcoin’s price increased by 120% in 2023, leading the BTC Fear and Greed Index to show “Greed” for over 30 days, echoing late 2021 trends.
  • Bullish Market Indicators: The index’s greed signal is fueled by factors like social media buzz and market momentum, driven by expectations of a US BTC ETF and the upcoming 2024 halving.
  • Correction Possibility: The high greed level among investors suggests a potential market correction, while periods of fear might offer buying opportunities, aligning with Warren Buffett’s investment strategy.

Greed Reigns Among Investors

Bitcoin’s impressive comeback in 2023, especially during the second part of the year, has defied bearish forecasts and underlined the asset’s resilience to overcome each crash. The whopping 120% price increase since January 1 might be one reason why the popular BTC Fear and Greed Index has flashed “Greed” lately.

In fact, the metric has been in that territory for over 30 consecutive days, a development last observed in the final quarter of 2021 when the primary cryptocurrency hit an all-time high of almost $70,000.

BTC Fear and Greed Index
BTC Fear and Greed Index, Source: alternative.me

The index’s result is based on numerous factors such as social media interaction, surveys, market momentum, volatility, and others. It is safe to assume that the overall condition of the cryptocurrency market has been quite bullish recently, prompted by the possible approval of a spot BTC ETF in the United States and the upcoming halving (scheduled for the spring of 2024).

Numerous experts and even the AI-powered language model ChatGPT have assumed that those elements could trigger a new all-time high for the leading digital asset next year.

Those curious to explore some price predictions coming from prominent figures could take a look at our dedicated video below:

Is BTC Correction Incoming?

The rising greed among investors, though, could also indicate that many individuals enter the market due to a FOMO (“Fear of Missing Out”) effect. In other words, when investors are getting too greedy, the market might be due for a correction. 

On the other hand, it could be a good idea for people to jump on the Bitcoin bandwagon when the index points to Fear or Extreme Fear. 

Such a thesis (even though not focused on cryptocurrencies) is supported by the American billionaire Warren Buffett. One of his motos states that people should be “fearful when others are greedy and to be greedy only when others are fearful.” 

 

SPECIAL OFFER (Sponsored)

Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).


Source link

The post This Hasn’t Happened to Bitcoin (BTC) in Two Years appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

$3 Million Stolen In ‘Kraken’ Crypto Con

The surge in online scams has drawn heightened regulatory attention towards the crypto industry. A recent case serves as a vivid reminder of the risks involved, where a Connecticut resident became a victim of a significant scam, losing more than $3 million to individuals falsely purporting to be associated with Kraken, a well-known cryptocurrency exchange. The victim, who remains unnamed, was based in Westport and followed advice to transfer funds out of a retirement account, intending to reinvest the money in an account supposedly linked to Kraken. However, their decision led to more than $3 million swiftly disappearing into crypto wallets they could not access. Recovery Of Stolen Crypto Funds Fortunately, the victim sought help from law enforcement, and local detectives, collaborating with the state’s Organized Crime Task Force, launched an investigation. This diligent effort enabled them to trace the transactions and freeze accounts involved in the scam. While they managed to r...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite