And the results of this uptrend is explicitly visible in the day charts of the king crypto.
Bitcoin charts are trending on its 9 months high changing the market sentiment drastically in favour of cryptocurrencies. As a result of which investors are back in the markets once again creating a strong positive signal for BTC investors around the world.
As per the Fear and Greed Index, the Multifactorial Crypto Market Sentiment Analysis is ranging around 68 out of 100. This index indicate the present market sentiment which is on the greed side at the time of writing this news.
The most important thing to note here is that the last time Fear and Greed Index reached these levels, Bitcoin was close to its all time high in 2021. After that the index went on to fall consecutively month after month during 2022 as the market witnessesd a series of project failure in the industry.
Now the market is on its way to recover from more than a year long bearish sentiment and likely to break this spell in the coming months. Bitcoin, ETH and other leading cryptocurrencies are already showing great signals for the coming times. Some leading market analysts such as Markus Thielen, Head of Research, Matrixport have set the targets for Bitcoin to reach the levels of $45,000 by the end of the year. Apart from that some experts have even set the target of $1.00,000 by the end of this year.
Even though only time will tell what lies in the future but there is no doubt about the fact that it is looking promising even for a shorter time interval.
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