The Crypto Fear and Greed Index has hit its highest level since Bitcoin’s all-time high, placing it firmly within the “Greed” territory. Since the demise of Silicon Valley Bank and the repercussions for the conventional financial system, sentiment towards the cryptocurrency market has been bullish. Bitcoin has been predicted to reach $36,000 in the next few months, with Charles Edwards predicting an even more ambitious price target of $100,000 in 2023.
The failure of banks and modifications to federal monetary policies, according to Ryan Selkis, founder and CEO of the crypto analytics company Messari, could lead to BTC reaching this level. Bitcoin has gained 51% in year-to-date absolute returns, according to Goldman Sachs, making it the best performing asset this year.
