Editor's PiCK
[Analysis] "Bitcoin Investment Sentiment Enters 'Optimism Stage'...Possibility of Upward Rally"
Summary
- Bitcoin investment sentiment has entered the 'Optimism Stage' based on past patterns.
- According to historical data, Bitcoin often began strong upward movements during this period.
- However, he warned of the possibility of substantial price corrections when reaching the 'Euphoria Stage'.
Bitcoin (BTC) investment sentiment has entered the 'Optimism Stage', according to a new analysis.
Woo Min-gyu, a CryptoQuant contributor, stated, "Looking at the Bitcoin Fear and Greed Index over the past month, (investment sentiment) has entered the optimism stage as of March," adding that "this is a very important moment considering past market patterns."
Woo suggested the possibility of a Bitcoin rally. He analyzed, "Historically, when the (Fear and Greed) index entered the optimism stage, Bitcoin often began preparing for a strong upward movement," and "conversely, in the Euphoria Stage, substantial corrections typically followed due to excessive market optimism." He continued, "The key point is that considering past patterns, there is a possibility of a significant rise during the optimism stage," and warned that "if prices surge rapidly and reach the euphoria stage, there is also a risk of sharp price correction."
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
