Bitcoin

As the <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">cryptocurrency market</a> slowed down its rally over the past weeks, which has seen Bitcoin (<a href="https://finbold.com/cryptocurrency/bitcoin/" rel="noopener noreferrer nofollow">BTC</a>) surpass the psychological threshold of $28,000, the maiden decentralized finance (<a href="https://finbold.com/guide/liquidity-mining-definition/" rel="noopener noreferrer nofollow">DeFi</a>) asset is painting more <a href="https://finbold.com/guide/bull-market-definition/" rel="noopener noreferrer nofollow">bullishness</a> in the future as the crypto Fear &amp; Greed Index is recording a 16-month high.Indeed, the Fear &amp; Greed Index is currently giving off a reading of 68, well into the ‘greed’ area, the highest level since November 2021, when the <a href="https://finbold.com/guides/cryptocurrency/" rel="noopener noreferrer nofollow">crypto</a> industry was recording one of the most significant bull runs in its history, according to the alternative.me <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">data</a> retrieved on March 21.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/22485ec00dd34d08b31be9bc1b57ebd7.png" />Crypto Fear &amp; Greed Index. Source: <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">alternative.me</a>As it happens, the crypto Fear &amp; Greed Index on November 9, 2021, recorded a reading of 84 in favor of ‘greed,’ as demonstrated by the crypto market sentiment analysis chart that has followed these values since February 1, 2018. According to the platform’s explanation, a value of 0 means ‘extreme fear,’ whereas a value of 100 represents ‘extreme greed.’<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/9ed6ca38d42b475f81bf83aff18159a1.png" />Crypto Fear &amp; Greed Index over time. Source: <a href="https://alternative.me/crypto/fear-and-greed-index/" rel="noopener noreferrer nofollow">alternative.me</a>Notably, the Fear &amp; Greed Index takes into account a number of different indicators, including <a href="https://finbold.com/guide/cryptocurrency-trading/" rel="noopener noreferrer nofollow">crypto trading</a> volume, price volatility, market momentum, and social activity, and its values in the ‘greed’ zone suggest that increased <a href="https://finbold.com/guides/investing/" rel="noopener noreferrer nofollow">investor</a> confidence in the future performance of <a href="https://finbold.com/cryptocurrencies" rel="noopener noreferrer nofollow">cryptocurrencies</a>, while the ‘fear’ reading goes hand in hand with the ‘<a href="https://finbold.com/guide/what-is-hodl/#FUD" rel="noopener noreferrer nofollow">FUD</a>’ (‘Fear, Uncertainty, Doubt’) sentiment.<h2 id="header-0">Bitcoin price analysis</h2>As things stand, <a href="https://finbold.com/topic/bitcoin/" rel="noopener noreferrer nofollow">Bitcoin</a> is currently trading at the price of $28,055, recording a slight decline of 0.74% on the day but still hanging onto its gains of 12.97% acquired during the previous week and 13.66% on its monthly chart, as per <a href="https://finbold.com/guide/best-crypto-data-websites/#CoinMarketCap" rel="noopener noreferrer nofollow">CoinMarketCap</a> data accessed by <a href="https://finbold.com/" rel="noopener noreferrer nofollow">Finbold</a> on March 21.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/cf46ddb2fb55429881cf22141c22ce38.png" />Bitcoin 7-day price chart. Source: <a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow">CoinMarketCap</a>At the same time, the positive sentiment around Bitcoin is contributed by the <a href="https://finbold.com/bitcoin-halving-one-year-away-when-will-btc-price-spike/" rel="noopener noreferrer nofollow">expectation</a> of the fourth halving event in late April or early May 2024, which is anticipated to trigger a massive price hike for the flagship digital asset in the months following the halving.Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.Read more cryptocurrency news on <a href="https://finbold.com/category/cryptocurrency-news/" rel="noopener noreferrer nofollow">Finbold.com</a>.<h3 id=""></h3><h3 id=""></h3>

Bitcoin ‘Fear & Greed’ index hits 16-month high as BTC regains $28k

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