Bitcoin Sets Record $93,000 High As Extreme Greed Level Hits 84

Name	Symbol	Market	Market Cap ($)	Algorithm
Dogecoin	DOGEUSD	Crypto	57,882,856,044	Scrypt

Name

Symbol

Market

Market Cap ($)

Algorithm

Dogecoin

DOGEUSD

Crypto

57,882,856,044

Scrypt

	Price Change	Price Change %	Current Price	Bid Price	Offer
	-0.00352	-0.88%	0.39701	0.397	0.39709

Price Change

Price Change %

Current Price

Bid Price

Offer

-0.00352

-0.88%

0.39701

0.397

0.39709

High Price	Low Price	Open Price	Prev. Close	52 Week Range
0.41646	0.37932	0.39707	0.40053	0.068900 - 0.439500

High Price

Low Price

Open Price

Prev. Close

52 Week Range

0.41646

0.37932

0.39707

0.40053

0.068900 - 0.439500

Exchange	Last Trade	Size	Trade Price	Currency
GDAX	19:18:07	2,069.30	0.39703	USD

Exchange

Last Trade

Size

Trade Price

Currency

GDAX

19:18:07

2,069.30

0.39703

USD

Price x Volume	Volume	Base Symbol	Related Pairs
548,433,186.48	1,388,605,937.33	DOGE	DOGEEUR	DOGEGBP	DOGEBTC

Price x Volume

Volume

Base Symbol

Related Pairs

548,433,186.48

1,388,605,937.33

Bitcoin Sets Record $93,000 High As Extreme Greed Level Hits 84

14/11/2024 9:30am

NEWSBTC

Data shows the Bitcoin market sentiment has recently seen a significant uplift as the cryptocurrency’s price has set new records. Bitcoin Has Just Set A New All-Time High Above $93,000 Bitcoin had seen a bit of a pause in its bull run yesterday, but the uptrend has already returned for its price in spectacular fashion today as the coin has now achieved a new all-time high (ATH) beyond the $93,000 mark. Related Reading: XRP NVT Ratio Has Been High Recently: What It Means The chart below shows how the coin’s recent trajectory has looked. Following this rally, Bitcoin is sitting in weekly gains of over 24%. As is generally the case, the other assets in the sector have also followed BTC in this run, with Ethereum (ETH), the largest of the lot, garnering similar profits. However, many altcoins have outperformed these two giants, with Dogecoin (DOGE) particularly standing out with its impressive 120% positive returns. Whenever the market goes through such a bullish phase, investor sentiment shifts towards the better. The same has also happened this time, as the Fear & Greed Index shows. Bitcoin Fear & Greed Index Is Now At A Value Of 84 The “Fear & Greed Index” refers to an indicator created by Alternative that tells us about the average sentiment among the investors in Bitcoin and the wider cryptocurrency markets. This metric uses a numeric scale from zero to a hundred to represent the trader mentality. Values above the 53 mark imply the average investor is showing greed, while those under 47 suggest the presence of fear in the market. The region between these two cutoffs corresponds to a net neutral sentiment. Other than these three main sentiments, there are also two special ones: extreme greed and fear. The former occurs at values above 75, while the latter is under 25. Now, here is what the Bitcoin Fear & Greed Index is like right now: As is visible above, the index is sitting at a value of 84. This naturally indicates that investor sentiment is firmly in extreme greed. Historically, Bitcoin and other coins in the sector have tended to move opposite to the majority’s expectations. The probability of a contrary move also grows the crowd’s confidence. As such, whenever the Fear & Greed Index has gone too far off into one extreme, a reversal has become likely for BTC. This effect was also witnessed during the top back in March of this year. During that top, the indicator was sitting at 88, which isn’t much higher than the latest value. Thus, it’s possible that, at least from the perspective of sentiment, Bitcoin may be starting to become overheated. Related Reading: Dogecoin Explodes 150% As Shark & Whale Buying Returns That said, past bull markets have generally seen the cryptocurrency sustain in this extreme zone for a while before the actual cyclical top is reached, so the rally could still have room to run. Featured image from Dall-E, Alternative.me, chart from TradingView.com

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DOGEUSD Dogecoin