When they said the crypto market is a volatile one, they really meant it is a highly volatile one, a mad one, and of course an unpredictable wild west where you can ride some of the wildest stallions like a champ...or broke your neck in a second.
Just three days ago Bitcoin was selling/buying at slightly under $6,700 and now it's $1,000 more than that for a whole piece of pie. Wild, right? To spice things up even more its price appreciated with about $600 in less than 12 hours today which is typical Bitcoin but a nightmare for shorters at the same time.
Now, since this post has no beginning nor end, or any purpose, I will take your attention to another interesting fact about Bitcoin, which is the fear/greed index that currently is putting Bitcoin into 20 points into the extreme fear territory while last week it was in the just fear territory with 30 points, and we had it last month right into the neutral one with 50 points.
The more points on the counter the more greed into the market and if it continues to go higher it will escape extreme fear territory and slightly get towards the greed one. That's where we, or at least I, want to see it after leaving the bloody zone and that's where one could take profits when trading like a champ.
Now if I were a smart crypto investor, or lets say a good swing trader, and would only stick to being a contrarian of this market while keeping my eyes on this indicator I would buy into extreme fear and sell to greedy people on greed's territory, but I haven't done that... It is an interesting indicator though and we seem to be at a turning point for BTC right now.
Towards $10,000 and more in a bullish trend or bellow $6,000 and even less into the bear's forest. It's the fight of the bulls and bears or of the smart manipulating whales and dumb ignorant sentimental minnows. Interesting match anyway. $14,000 BTC by the end of the year, what do you say?!
Thanks for attention,