Bitcoin’s Impressive Rally Might Take a Breather

In the past week, Bitcoin (BTC), which increased its value by over 20%, once again made headlines all over the world. According to the unfailing Bitcoin index, the exuberant rally in the BTC market could now be entering the usual consolidation period.  There Might be a Pause in the Bitcoin Rally  The signal from the Bitcoin Greed and Fear Index (GFI), which soared from less than 10% to 93% in about a week according to crypto services provider Matrixport, shows that the market might take a breather from its strong rally.  The index tries to track the dominant sentiments in the market; values above 90% signify greed or excessive optimism, while values below 10% mean extreme fear or pessimism.  Markus Thielen, research and strategy director at Matrixport, while evaluating the current situation in the index, said, “Our Bitcoin Greed and Fear Index reached exuberant levels in record time.” He advised […] The post Bitcoin’s Impressive Rally Might Take a Breather appeared first on COINTURK NEWS.