Hey guys,
By recent Fear&Greed Index bitcoin is in extreme greed area, usually it's a sign of decline in price or even crash. I've been observing this index for quite some time and find it pretty accurate, of course it doesn't give you the exact day or time but it indicates the sentiment on the market. Do you ever use this index in your trading analysis?
Yep, I think I get what you’re trying to say here: when there is a huge growth like this, there will be a sign of greed in the market and people will be hoping for more increase, you will start so many of them buying and making analysis of more increase.
At times like this is when FOMO kicks in and before you know it, the market will crash and so many of them will lose their money out of greed. Same thing happens when the market starts falling, there will be fear, just like earlier when the price was down to $3k and people were predicting $1k and $2k or even less, but instead the price turned and started going up.