• Home
  • Live Crypto Price
  • Contact
No Result
View All Result
  • Home
  • Live Crypto Price
  • Contact
No Result
View All Result
No Result
View All Result
Home Cryptocurrency

Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ to ‘Greed’ – Market Updates Bitcoin News

Jamie Redman by Jamie Redman
January 30, 2023
in Cryptocurrency
0 0
0
Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ to ‘Greed’ – Market Updates Bitcoin News
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter


Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating “extreme fear.” Thirty days later, with a 39% increase in bitcoin prices against the U.S. dollar, the current CFGI score on Jan. 30, 2023, is 61, reflecting “greed.”

Crypto Fear Index Jumps to ‘Greed,’ Etoro Market Analyst Attributes Bitcoin’s Rise to Shift in Investor Expectations

Records show bitcoin (BTC) saw significant value growth in the first month of 2023, with a 39% increase against the U.S. dollar. On Jan. 29, 2023, BTC reached a 30-day high of $23,954 per unit, with prices ranging from that value to a low of $22,988 over the past 24 hours. This rise has significantly raised the Crypto Fear and Greed Index (CFGI) hosted on alternative.me, moving it from the “extreme fear” zone to the “greed” range in the course of the month.

Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From 'Extreme Fear' to 'Greed'

Last week, CFGI records showed a score of around 50, indicating “neutral,” according to alternative.me. Seven days later, the CFGI score rose to 61, meaning “greed.” The website states that when crypto investors become too greedy, it signals the market is due for a correction. The CFGI score has remained above the neutral range of 50 since Jan. 23, 2023, after spending a significant amount of time below 45 prior to Jan. 14, 2023. On Monday, bitcoin (BTC) prices saw weakness against the U.S. dollar as traders took profits.

Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From 'Extreme Fear' to 'Greed'
Crypto Fear and Greed Index (CFGI) chart on Jan. 30, 2023.

In a note sent to Bitcoin.com News, Etoro’s market analyst, Simon Peters, attributed the halt in crypto price declines to a change in investor expectations regarding inflation and interest rate hikes from the Federal Reserve. Peters also noted that financial institution Goldman Sachs “published a positive note on Bitcoin,” citing a market performance sheet that was recently published, which shows Bitcoin outperforming all other major asset classes, including gold, real estate, and emerging markets.

“Bitcoin has performed extremely well so far in 2023, rising nearly 43% since 1 January on the eToro platform. From its lowest point in the past year – $15,523 – reached on 9 November, it’s up just over 50%,” Peters wrote. “With inflation and interest rate expectations now turning, most asset classes have halted the declines witnessed in 2022 as investors begin to think ‘where next’ for their portfolios beyond the 2022 rate hike crash,” the Etoro market analyst added.

Tags in this story
24 hours, 30-day high, 39% increase, above 50, alternative.me, Analysis, Bitcoin, Bitcoin (BTC), Bitcoin markets, BTC, BTC Market Sentiment, CFGI, CFGI ranking score, Correction, Crypto, Crypto Fear, Crypto Fear and Greed Index, crypto market update, Crypto markets, data, Emerging Markets, eToro, extreme fear, Fear, Federal Reserve, Goldman Sachs, Greed, Greedy, inflation, interest rate expectations, interest rate hikes, Jan 14 2023, market analyst, Market Interest, market sentiment, Markets, neutral, Portfolio, positive note, Price, Score, Simon Peters, U.S. dollar, Value Growth

What do you think is driving the increase in bitcoin prices and the shift in the Crypto Fear and Greed Index towards ‘greed’? Share your thoughts in the comments below.

Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.




Image Credits: Shutterstock, Pixabay, Wiki Commons

More Popular News

In Case You Missed It





Source link

Previous Post

FTX Co-Founder Sam Bankman-Fried Seeks Removal of Bail Restrictions on Crypto Asset Transfers – Bitcoin News

Next Post

Bitcoin Kills Rent Seeking – Bitcoin Magazine

Jamie Redman

Jamie Redman

Next Post
Bitcoin Kills Rent Seeking – Bitcoin Magazine

Bitcoin Kills Rent Seeking - Bitcoin Magazine

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

Pantera Capital CEO: Bitcoin (BTC) Could Hit $115k after Halving

May 5, 2022
BOLT12, LNURL And Bitcoin Lightning

BOLT12, LNURL And Bitcoin Lightning

June 20, 2022
Jack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review – The Weekly Bitcoin News

Jack Dorsey Muses on Social Media ‘Takeover,’ Ethereum Weaknesses; Plus the Latest in Crypto Mining — Bitcoin.com News Week in Review – The Weekly Bitcoin News

April 24, 2022
Nubank Rolls Out Bitcoin Buying In Brazil

Nubank Rolls Out Bitcoin Buying In Brazil

June 28, 2022
Bitcoin Is Our Weapon In The War Of Ideas

Bitcoin Is Our Weapon In The War Of Ideas

0
Allianz Chief Economic Advisor Predicts Bitcoin Going Higher Amid Inflation

Allianz Chief Economic Advisor Predicts Bitcoin Going Higher Amid Inflation

0
Insurance Considerations For Bitcoin Miners

Insurance Considerations For Bitcoin Miners

0
Becoming A Sovereign Individual With Bitcoin

Becoming A Sovereign Individual With Bitcoin

0
Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

March 29, 2023
Binance And Its CEO CZ Sued By CFTC After Alleged Regulatory Violations

Binance And Its CEO CZ Sued By CFTC After Alleged Regulatory Violations

March 27, 2023
‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

March 27, 2023
The Latest Banking Crisis Is Why I Save In Bitcoin

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023

Recommended

Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

Do Kwon Successfully Formed a Company in Serbia Weeks After Interpol Issued Red Notice – Regulation Bitcoin News

March 29, 2023
Binance And Its CEO CZ Sued By CFTC After Alleged Regulatory Violations

Binance And Its CEO CZ Sued By CFTC After Alleged Regulatory Violations

March 27, 2023
‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

‘The Only Way to Truly Scale Blockchains Is to Parallelize Processing’ Says Piers Ridyard – Interview Bitcoin News

March 27, 2023
The Latest Banking Crisis Is Why I Save In Bitcoin

Why We Opened The Belgrade Bitcoin Hub

March 25, 2023

About Us

We bring you the latest bitcoin news from all over the internet

Categories

  • Cryptocurrency
  • Latest
No Result
View All Result
  • Home
  • Live Crypto Price
  • Contact

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In