{"id":17089,"date":"2023-01-30T19:27:17","date_gmt":"2023-01-30T19:27:17","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-rise-in-first-month-of-2023-moves-crypto-fear-index-from-extreme-fear-to-greed-market-updates-bitcoin-news\/"},"modified":"2023-01-30T19:27:17","modified_gmt":"2023-01-30T19:27:17","slug":"bitcoin-rise-in-first-month-of-2023-moves-crypto-fear-index-from-extreme-fear-to-greed-market-updates-bitcoin-news","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/bitcoin-rise-in-first-month-of-2023-moves-crypto-fear-index-from-extreme-fear-to-greed-market-updates-bitcoin-news\/","title":{"rendered":"Bitcoin Rise in First Month of 2023 Moves Crypto Fear Index From ‘Extreme Fear’ to ‘Greed’ \u2013 Market Updates Bitcoin News"},"content":{"rendered":"

(Originally posted on : Bitcoin News )<\/b>
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Last month, statistics showed that the Crypto Fear and Greed Index (CFGI) had a score of 25, indicating \u201cextreme fear.\u201d Thirty days later, with a 39% increase in bitcoin prices against the U.S. dollar, the current CFGI score on Jan. 30, 2023, is 61, reflecting \u201cgreed.\u201d<\/strong><\/p>\n

Crypto Fear Index Jumps to \u2018Greed,\u2019 Etoro Market Analyst Attributes Bitcoin\u2019s Rise to Shift in Investor Expectations<\/h2>\n

Records show bitcoin (BTC)<\/a> saw significant value growth in the first month of 2023, with a 39% increase against the U.S. dollar. On Jan. 29, 2023, BTC<\/a> reached a 30-day high of $23,954 per unit, with prices ranging from that value to a low of $22,988 over the past 24 hours. This rise has significantly raised the Crypto Fear and Greed Index (CFGI)<\/a> hosted on alternative.me, moving it from the \u201cextreme fear\u201d zone to the \u201cgreed\u201d range in the course of the month.<\/p>\n

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Last week, CFGI records showed a score of around 50, indicating \u201cneutral,\u201d according to alternative.me. Seven days later, the CFGI score rose to 61, meaning \u201cgreed.\u201d The website states that when crypto investors become too greedy, it signals the market is due for a correction. The CFGI score has remained above the neutral range of 50 since Jan. 23, 2023, after spending a significant amount of time below 45 prior to Jan. 14, 2023. On Monday, bitcoin (BTC)<\/a> prices saw weakness against the U.S. dollar as traders took profits.<\/p>\n

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Crypto Fear and Greed Index (CFGI) chart on Jan. 30, 2023.<\/figcaption><\/figure>\n

In a note sent to Bitcoin.com News, Etoro\u2019s market analyst, Simon Peters, attributed the halt in crypto price declines to a change in investor expectations regarding inflation and interest rate hikes<\/a> from the Federal Reserve. Peters also noted that financial institution Goldman Sachs \u201cpublished a positive note on Bitcoin,\u201d citing a market performance sheet<\/a> that was recently published, which shows Bitcoin outperforming all other major asset classes, including gold, real estate, and emerging markets.<\/p>\n

\u201cBitcoin has performed extremely well so far in 2023, rising nearly 43% since 1 January on the eToro platform. From its lowest point in the past year \u2013 $15,523 \u2013 reached on 9 November, it\u2019s up just over 50%,\u201d Peters wrote. \u201cWith inflation and interest rate expectations now turning, most asset classes have halted the declines witnessed in 2022 as investors begin to think \u2018where next\u2019 for their portfolios beyond the 2022 rate hike crash,\u201d the Etoro market analyst added.<\/p>\n

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24 hours<\/a>, 30-day high<\/a>, 39% increase<\/a>, above 50<\/a>, alternative.me<\/a>, Analysis<\/a>, Bitcoin<\/a>, Bitcoin (BTC)<\/a>, Bitcoin markets<\/a>, BTC<\/a>, BTC Market Sentiment<\/a>, CFGI<\/a>, CFGI ranking score<\/a>, Correction<\/a>, Crypto<\/a>, Crypto Fear<\/a>, Crypto Fear and Greed Index<\/a>, crypto market update<\/a>, Crypto markets<\/a>, data<\/a>, Emerging Markets<\/a>, eToro<\/a>, extreme fear<\/a>, Fear<\/a>, Federal Reserve<\/a>, Goldman Sachs<\/a>, Greed<\/a>, Greedy<\/a>, inflation<\/a>, interest rate expectations<\/a>, interest rate hikes<\/a>, Jan 14 2023<\/a>, market analyst<\/a>, Market Interest<\/a>, market sentiment<\/a>, Markets<\/a>, neutral<\/a>, Portfolio<\/a>, positive note<\/a>, Price<\/a>, Score<\/a>, Simon Peters<\/a>, U.S. dollar<\/a>, Value Growth<\/a><\/div>\n<\/div>\n

What do you think is driving the increase in bitcoin prices and the shift in the Crypto Fear and Greed Index towards \u2018greed\u2019? Share your thoughts in the comments below.<\/strong><\/em><\/p>\n

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\nJamie Redman <\/h6>\n

\nJamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.

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Image Credits<\/b>: Shutterstock, Pixabay, Wiki Commons<\/em><\/p>\n

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