The Bitcoin Fear and Greed Index that tracks the state of investor sentiment on the Bitcoin market now displays 70, which is in the “greed” zone.
It happened as the world’s flagship cryptocurrency reached the $108,007 level earlier today, standing very close to the $109,100 historic peak reached on Jan. 20. Currently BTC is changing hands at $106,163 per coin after shedding 1.74% today.
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Bitcoin faces "greed" as BTC approaches its old ATH
Usually, when Bitcoin enters the greed zone, it means that investors are being too greedy, obviously, which overheats the market, and BTC is bound to start correcting. BTC has been moving in this zone over the past few weeks, while the last time it faced “fear” (when the market is hit by FOMO and presents a buying opportunity) was last month, according to the index's website.
Still, on-chain data sources, and Sentora among them, expect that Bitcoin is about to surpass the January all-time high and set a new one — perhaps even later today. The tweet published by this data source also points out that 99% of Bitcoin holders are currently in profit.
Bitcoin Fear and Greed Index is 70 ~ Greed
Current price: $106,853 pic.twitter.com/OwUf8CHceh
Meanwhile, Bitcoin has been absorbing large inflows recently, particularly when it came to spot Bitcoin ETFs. As reported by U.Today, Bitcoin ETFs saw a massive $329 million go into them on Tuesday as the BTC price jumped 3.39%, adding almost $2,000 in a single day.
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Kiyosaki slams Bitcoin ETFs as "toilet paper"
Renowned investor and author of the classic book on finance management, “Rich Dad Poor Dad,” Robert Kiyosaki, stated this week that he does not consider bonds to be a safe asset. Once again, he reminded the crypto community that since 1971, when President Nixon took the dollar off the gold standard, the Federal Reserve and the U.S. Treasury have been printing “fake” fiat money, “aka US bonds.”
Kiyosaki referred to a statement made by JP Morgan years ago, claiming that “Gold is money…everything else is toilet paper.” Agreeing with this, Kiyosaki adds Bitcoin and silver to gold, calling even the now-popular spot Bitcoin ETFs “toilet paper” too. He pointed out that after Moody’s downgraded the U.S. credit rating, central banks began selling U.S. bonds to buy gold.
BFL: Big F’n Lie: “Bonds are safe.”
For years financial planners have been lying to their “chumps” a.k.a. “clients” that “US bonds are safe.”
Only a chump would believe that BS.
Lesson: Nothing is safe if there is “counter party-risk.”
Stupid example of counter party…
Kiyosaki advises stacking BTC, gold and silver to overcome the hard economic recession he expects to hit the U.S. soon.
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