Yuri Molchan
This Bitcoin metric hints investors may start selling BTC soon
The Bitcoin Fear and Greed Index’s value has hit 65, which is the Greed area. When this index shows Greed, it means the market is saturated and the price may be in for an upcoming price correction.
Currently, the world’s flagship digital currency, Bitcoin, is changing hands at $34,415 after a slight price correction overnight, when BTC declined by roughly 4%.
The aforementioned Bitcoin index may demonstrate three zones for BTC (and other major cryptos too) – fear, when it is a good time to buy, neutral and greed. The latter signifies that investors may soon begin to sell some of their Bitcoin to lock in profits.
Whale Alert has already spotted a massive BTC chunk sent to a large crypto exchange, Bitfinex. An anonymous whale transferred 7,000 BTC to it – that crypto lump is worth $244,457,443.
Over the past 24 hours, the Bitcoin price has shown a decline of 3.64% after an earlier rise of over 5%
About the author
Yuri Molchan
Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.
His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.