The Bitcoin (BTC) Fear and Greed Index, presented by Matrixport, the cryptocurrency company of famous Chinese billionaire Jihan Wu, has passed 90%.
Prepared by Matrixport Bitcoin Fear and Greed index 93% rose to the level of greed. Approximately 10 days ago Only 10% index positioned at sudden rise in drew attention.
When Matrixport’s indicator is examined historically 90% of while levels above show local peaks below 10% levels can point to local low points. In this direction, some amount of Bitcoin at these levels on a consolidated basis It was stated that he would be relieved.
On the other hand, the index 21-day moving average if yet 50% located at the levels. This too period of ascension It reminds me that it may not be finished yet.
Matrixport research and strategy manager, who made a statement on the subject. Markus Thielenwhile reminding that a short-term local peak may be possible 21-day moving average He said that after a little consolidation, it gave a more bullish signal:
Our Bitcoin Greed and Fear Index hit enthusiastic highs in record time. It may be good advice for short-term investors to realize their profits. The fact that the 21-day moving average (black line) is still rising could signal further upside for bitcoin prices after the current phase of enthusiastic momentum is circumvented with some consolidation.
As Thielen advised, many investors took profits from their positions. Bitcoin investors, 21 June according to dated data second biggest profit sale this year making a total 573 million dollars profit realized.
