Crypto Fear and Greed Index surpasses 2021 levels: Report

ambcrypto.com:

The Crypto Fear and Greed Index has reached its highest level in 2023, surpassing levels not seen since Bitcoin’s [BTC] all-time high (ATH) in November 2021.

The latest Index update showed a score of 68, firmly placing it in the “Greed” category.

Source: Alternative.me

The Crypto Fear and Greed Index attempts to numerically represent current “emotions and sentiments” towards Bitcoin and the broader cryptocurrency market, with a maximum score of 100.

The index last scored 66 on 16 November 2021, only a few days after Bitcoin recorded ATH of over $69,000 on 10 November 2021.

Since the collapse of Silicon Valley Bank and the subsequent fallout in the traditional financial markets, market sentiment towards Bitcoin and cryptocurrency has been bullish.

Bitcoin has gained around 27.8% over the past week, reaching $28,000 for the first time since June 2022.

Source: CoinMarketCap

The founder and CEO of investment firm Capriole, Charles Edwards, predicted an even more ambitious price target of $100,000 for Bitcoin. In a recent tweet, Edwards described BTC price action in 2023 as a:

“Textbook perfect Bitcoin ‘Bump & Run Reversal.”

He further believed that “the target is over $100,000.” He, however, added,

“Chart patterns do fail. Don’t use this as a trading/investment plan. Manage your risks!”

— Charles Edwards (@caprioleio) March 15, 2023

Ryan Selkis, founder and CEO of crypto analytics firm Messari, shared a similar prediction recently, explaining why he thought it was possible that Bitcoin could reach $100,000 in the next twelve months.

According to Selkis, several factors, such as bank