- The data encryption fear and greed index reached its highest level in 2023, exceeding levels not seen since BTC's ATH in November 2021.
- Sentiment towards bitcoin and cryptocurrencies has been rising since the collapse of SVB.
The data encryption fear and greed index has reached its highest level in 2023, exceeding levels not seen since ATH in the history of bitcoin [BTC] in November 2021.
The latest index upgrade shows that it has a score of 68, putting it in the "greed" category.
The Crypto fear and greed index tries numbers to mean the "mood and mood" of the bitcoin and the broader cryptocurrency market at this stage, with a maximum score of 100.
The last time the index scored 66 was on November 16, 2021, but not long ago, Bitcoin set an ATH record of more than $69000 on November 10, 2021.
Sentiment towards bitcoin and cryptocurrencies has been rising since the collapse of Silicon Valley Bank and its subsequent damage to existing financial markets.
Bitcoin has risen about 27.8% in the past week, reaching $28000 for the first time since June 2022.
Can Bitcoin reach 100000 US dollars?
Cliff Edwards, founder and CEO of Capriole, an investment management company, predicts that the target price of bitcoin will break new ground, reaching $100000. In a recent tweet, Edwards described the bitcoin price behavior in 2023 as:
"the textbook is perfect for bitcoin 'Bump&Run flip'."
He further thought, "the goal is above $100000." But, he added,
"it is true that the data chart method did not succeed. You don't have to use it as a buying and selling / financing plan. Management method you risk! "
The perfect bitcoin "Bump&Run flip" in the textbook goes home at the bottom, with the aim of exceeding $100000. Pic.twitter.com/w1dvI2r57Q
Cliff Edwards (@ caprioleio) March 15, 2023
The CEO of cryptanalysis company Messari recently shared similar predictions, explaining why Bitcoin is likely to reach $100000 in the next 12 months.
According to Selkis, several factors such as bank failures and changes in federal fiscal policy could lead to an increase in external investment in cryptocurrencies.
My rough forecast for the next 12 months is as follows:
1. More and more banks will fail in the coming weeks. The Fed's interest rate cut / quantitative easing policy is back! 3. Bitcoin soared, keeping inflation moderate. 4. "external credit currency" / "stable credit currency"-> 100000 US dollars / BTC.5. The speed of organizational purchase is that the rate of cancellation of Fed meetings is faster.
The game is on.
— Ryan Selkis