Greed Level Rises in Bitcoin Rejected at $24,000! Is Ascension Real or Bull Trap?

The leading cryptocurrency approaching the $24,000 limit with the rise it experienced yesterday bitcoinfailed to continue its rise and declined to the $23,120 levels.

BTC Although there has been a decline in the price of the product, there has been a 40% rally since the beginning of 2023.
This rally in Bitcoin had a positive impact on both the market capitalization of the cryptocurrency market and altcoins.

Except this Bitcoin Fear and Greed IndexThere were also increases.

The index, which has been in the fear zone for a long time, has gone out of the fear zone with the rally and is experiencing its 11th consecutive day outside of fear.

Bitcoin’s approach to $24,000 has pushed the index back up and hit a 15-month high. 61 to points delivered.

These levels were last seen when Bitcoin was at $ 65,000 on November 16, 2021.

The Bitcoin Fear and Greed index reached Neutral levels for the first time since April 2022 on January 17, 2023, and left the fear zone for the first time in 9 months.

Although Bitcoin has made a positive contribution to the cryptocurrency market with a massive 40% increase since the new year, some investors and analysts still suspect that the recent price increases in BTC may be a bull trap.

However, this rise in BTC, whether it is a bull trap or a real rise, does not eliminate the fact that these increases in Bitcoin relieve many investors.

In this context bitcoin enemy Peter Schiff, He warned investors that this rise in Bitcoin was a bull trap. In addition to warning investors, Schiff also recommended that they should take profit by evaluating this rise.

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