Latest statistics show that the month was a successful one. The Crypto Fear And Greed Index (CFGI) registered a score of 25 for “extreme fear” and this went up to 30 days later. After the 39% rise in Bitcoin prices against the US dollar, the CFGI was at 61, signifying “greed”
Crypto Fear Index Jumps To ‘Greed’ After Bitcoin’s 39% Surge – Market Analyst Cites Investor Expectation Change
At the moment, Bitcoin (BTC) has experienced a major increase, with a 39% hike against the US dollar in the first month of 2023. On June 29, 2023, BTC reached a 30-day maximum of $23,954 per unit, with a 24-hour low of $22,988. This surge has substantially raised the Crypto Fear and Greed Index (CFGI) hosted on alternative.me, which shifted from the “extreme fear” zone to the “greed” zone over the course of the month.
Latest information from CFGI indicated a score of 50, denoting “neutrality”. Seven days later, the CFGI score rose to 61, which shows that hope is still alive. According to the website, if crypto buyers become too obsessed with their investments, it warns them that the market must be restored. The CFGI score has been above the 50-point neutrality range since January 20, 2023. Bitcoin (BTC) is currently experiencing a slight decrease against the US dollar, as traders take profits.
