Bitcoin Reigns Supreme once again with the ‘Greed’ of 2023
It’s official—Bitcoin is back. After the November 2020 bull market blip, almost everyone was afraid of touching crypto but the first months of 2023 have seen a sharp uptick not just in Bitcoin value but across the board. So much so that even the Crypto Fear Index (CFI) has moved from ‘Extreme Fear’ to ‘Greed’ in record time.
Why the Hype?
It’s no secret that Bitcoin’s meteoric rise is good news for those that invest in it. Cryptocurrency became much more mainstream in 2020 after several billionaires jumped on board the bandwagon. But January and February 2023 have become the fastest two-month stretch in Bitcoin’s history with its value shooting up to an all-time high.
What’s been the Repercussion?
It’s still too early in the game to talk about dramatic changes; however, this surge in the crypto market has resulted people’s perception about crypto completely shifting. Where earlier people were dreadfully hesitant to invest, now they’re practically joining the crypto stampede!
What’s the Future?
Though it’s tempting to make long-term Bitcoin predictions, there are no sure shot signs that the value would continue to surge. We still can’t ignore the fact that Bitcoin prices can be highly volatile. That’s why:
- Do Your Research Before investing in any asset, you should educate yourself; learn about the project and its founding team, research potential returns and do your due diligence.
- Start small Don’t blow all your savings on a single asset. Instead, start slow and allocate a smaller portion of your investments towards crypto.
- Research Exchanges Choose the right exchange to buy and sell cryptocurrency.
Either way, the CFI’s shift from ‘Extreme Fear’ to ‘Greed’ is the perfect indication that Bitcoin has finally returned with a bang! All we have to do now is watch the show from a safe distance.
