Fear, Greed Reach Two-Year Peak on Crypto Market Index


The Greed Index has reached its highest point in the past two years, at 72. The number of Americans over 70 is also on the rise since two years ago, peaking in November 2021 at 84. The value of the main cryptocurrency was growing during this period, reaching an all-time high of $69,044 on the 10th of November.

This increase in the metric value was accompanied by a recovery in the cryptocurrency markets, mainly fuelled by narratives about the prospects of launching the first cryptocurrency Exchange-traded Funds (ETFs) in the US. According to CoinGecko, the total capitalization of the sector has reached $692 Billion, with 51% of the population able to access it.

Since mid-October, the price of Bitcoin has seen positive growth, breaking the $30,000 barrier on October 16th. Rumors circulated online that the US Securities and Exchange Commission (SEC) had approved a request to create an ETF spot for BTC by BlackRock.

Since the start of the year, the first cryptocurrency has grown by 113%. At the time of writing, its price is $35,400, rising 2.9% in the last trading day. The meeting of the US Federal Reserve coincided with a rapid growth in Bitcoin on November 1st.

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