Key Takeaways
- During the past day, the worth of the crypto economy has increased, rising 5.4% to $2.26 trillion.
- The Crypto Fear and Greed Index has once again climbed to the "greed" position for the first time since November 16, 2021, and the week before that date.
Another good news rocks the crypto world: for the first time in four months, the Crypto Fear and Greed Index has reverted to the "greed" position as of March 28. On November 10 of last year, when the price of bitcoin peaked at $69,00 per unit, the index last hit its present level.
During the past day, the worth of the crypto economy has increased, rising 5.4% to $2.26 trillion. At around 3:00 p.m. (ET) on Monday, crypto users and investors also witnessed the price of bitcoin (BTC) rising as high as $48,234. Ethereum (ETH) wasn't also left out as around the same time as BTC's daily high; it reached a high of $3,431 per unit. Out of the $2.26 trillion, bitcoin (BTC) dominates about 40.3%, while Ethereum (ETH) has 18.1%.
The Fear and Greed Index just got "neutral" for the first time in 4 months!
The Crypto Fear and Greed Index has once again climbed to the "greed" position for the first time since November 16, 2021, and the week before that date. The index crunches "emotions and feelings from various sources and examines them daily to get a precise figure. That number is currently 60, corresponding to the "greed," position as of March 28, 2022. The index read "neutral" the previous day, scoring 49. The index had an extreme "fear" value of 30 last week and a "fear" ranking of 26 the month before.
The indicator has been increasing since March 14, but on March 2, it reached 52 and then started to decline. On March 10, it briefly reached a high of 28, then fell for a while before beginning to rise again. The cryptocurrency exchange volume on March 28 exceeded $100 billion, and its 24-hour global trade volume is currently hovering at $131.9 billion, according to data from the Crypto Fear and Greed Index.
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Additionally, even though 2022 is still only three months old, the list of Bitcoin obituaries reveals that there have already been six obituaries this year. On February 17, 2022, when bitcoin (BTC) was trading for $40,538.01 per unit, the last "death" was officially recorded. According to statistics from 99bitcoins.com, Bitcoin has been proclaimed dead more than 400 times since 2010.
Source: 99bitcoins.com (Red dots indicate Bitcoin Death in the past 3 months)
All these show that Bitcoin as a cryptocurrency is going through a series of changes that are not only changing its investors’ efforts but also the cryptocurrency space at large. What are your thoughts about Crypto Fear and Greed Index data achieving this feat of reaching the “greed” position for the first time in months? Please comment with your views on the subject below.
