Crypto Fear and Greed Index Hits 'Greed' for the First Time in 4 Months
On March 28, the Crypto Fear and Greed Index has jumped back to the “greed” position for the first time in four months. The last time the index reached the current position was when bitcoin reached a high of $69K per unit last year on November 10.
Crypto Index Dedicated to Emotions and Sentiments Reaches ‘Greed’ for the First Time in Months
The crypto economy has surged in value during the last day jumping 5.4% in value to $2.26 trillion. The price of bitcoin (BTC) reached a high of $48,234 at roughly 3:00 p.m. (ET) on Monday afternoon.
Ethereum (ETH) tapped a high of $3,431 per unit roughly around the same time frame as BTC’s daily high. Presently, bitcoin (BTC) has a dominance of around 40.3% of the $2.26 trillion, while ethereum (ETH) commands 18.1%.
See related article: Bitcoin Price Prediction
For the first time since November 16, 2021, and the week that preceded that date, the Crypto Fear and Greed Index has once again reached the “greed” position. On a daily basis, the index analyzes the “emotions and sentiments from different sources and crunch them into one simple number.”
Today, on March 28, 2022, that number is 60 which is the position of “greed.” Yesterday, the index had a “neutral” reading and the score was 49. Last week the index had a “fear” ranking at 30 and another “fear” ranking the month prior at 26.
The index has been on the rise since March 14 but on March 2, the Crypto Fear and Greed Index reached 52 and settled back down. It had a brief spike to 28 on March 10, had another lull, and started the rise 14 days ago.
In addition to the Crypto Fear and Greed Index data, cryptocurrency exchange volume on March 28, jumped over the $100 billion mark and it currently hovers around $131.9 billion in 24-hour global trade volume.
Furthermore, while only three months have passed in 2022, the Bitcoin Obituaries list shows that there have been six obituaries this year so far. The last so-called bitcoin death was recorded on February 17, 2022, when bitcoin (BTC) was exchanging hands for $40,538.01 per unit.
Bitcoin has been declared dead more than 400 times since 2010, according to 99bitcoins.com stats.