Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo Cryptocurrency Prices today, Charts And Market Capitalizations |Ty gia Coin logo
NewsBTC 2021-10-19 15:36:07

Buyer Beware: Extreme Greed Is Back In Bitcoin And Crypto

Bitcoin rallies as the first Exchange Traded Fund (ETF) launched by ProShares debuted in the NYSE. The first cryptocurrency by market cap trades at $62,908 with 2% and 9.5% profits in the daily and weekly charts, respectively. The general sentiment in the market flipped bullish as October made its entry, historically a green month for Bitcoin. Traders and operators seem to expect a fresh all-time high in the near term driven by fresh capital coming into the market via the BTC ETF. Related Reading | TA: Bitcoin Consolidates Gain: What Could Trigger Fresh Rally At press time, ProShares’ product has seen a $280 million in trading volume. Senior ETF analyst for Bloomberg Intelligence Eric Balchunas claims this makes the Bitcoin ETF part of the top 15 at opening day in terms of trading volume with the potential to become number one if it surpasses $1 billion during the day. The Fear and Greed indicators have moved to the upside as a consequence of recent events and Bitcoin’s performance. Per an Arcane Research report, The Fear and Greed Index signaled “extreme greed” for the past two weeks. Related Reading | The On-Chain Metric That Says Bitcoin Is About To Go “Parabolic” This indicator usually fluctuates at high levels when the crypto market hypes over an event, such as the debut of exchange Coinbase on the public market. In addition, Arcane Research claims Bitcoin experienced a similar phenomenon in 2020 when the bull-r...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.