- The price of Bitcoin (BTC) is back over the $50,000 mark.
- Analysts believe that this is only the beginning and the price could hit a new ATH.
- Other altcoins show similar trends as the Fear & Greed Index shows ‘Extreme Greed’.
The latest crypto bullrun seems to have been enough to turn the tides for the crypto market. After the big dip a few months ago, the market saw much fear with traders resorting to panic-selling and dumping their cryptos.
However, thanks to firm believers, long-term hodlers, and seasoned crypto analysts — the crypto market eventually rallied. According to most crypto experts, this was an event that was set to happen.
Besides Bitcoin, many other altcoins rallied as well. These include ETH, BNB, IOTX, ADA, SOL, AXS, and many more. More importantly, it seems the next crypto rally isn’t far behind. Some say that this small surge is only the beginning of a massive upcoming price run.
Seeing as how the previous prediction was true, it comes as no surprise that the lingering fear over another possible dip has all but disappeared. All that remains now is growing interest in investing in cryptos again.
Therefore, the Fear & Greed Index is presently showing a 79 on its scale. This means that the crypto market is showing an ‘Extreme Greed’ sentiment. We will see a rise in crypto investments and trades very soon — along with an inevitable crypto price surge as well.
Many crypto traders have said that this is a long-time coming. For instance, since the dip, many traders were certain that the price of crypto could go to $100,000 by the end of this year. This is still very much a possibility, as an expert explains here.
Meanwhile, other traders, while certain that a price rally to $100,000 will happen, say that there will be another small pullback after BTC hits $50,000 before it will fully bull towards the $100,000 mark.
All in all, the price of Bitcoin (BTC) will likely soar further very soon. More so, since the crypto market is over the 75% ‘Greedy’ mark. Thus, with no fear holding the crypto community back, we may see new ATHs for many cryptos anytime now. At the time of writing, the Bitcoin price is $50,247.03.