The Bitcoin Fear and Greed Index has reached a 16-month high of 64 as traders seem upbeat about the coin’s future. According to the index’s reading on Mar. 18, traders are “greedy” and attempting to buy more coins in order to continue the march higher. Following a string of significant occurrences that rattled the traditional financial markets, capital was forced to censorship-resistant and trustless assets, primarily bitcoin and other cryptocurrencies like ethereum, which have seen fast growth (ETH). The Federal Reserve, the country’s central bank, is reportedly providing a safety net for faltering banks, which is fuelling chatter that they are returning to easing and feeding the bull run in cryptocurrencies like bitcoin.
Bitcoin traders greedy, Fear and Greed Index at a 16-month high
