The Bitcoin Fear and Greed Index indicates that investors may soon start selling BTC.
When this greed indicator appears, it suggests that the price may be on its way to a price correction. Currently, the world’s leading digital currency, Bitcoin, is trading at $34,415 after a slight price correction, when Bitcoin dropped by approximately 4%.
The mentioned Bitcoin indicator may show three zones for BTC (and other major cryptocurrencies) – greed, fear, and extreme greed. This latter zone indicates that investors may soon start selling some of their Bitcoin to take profits.
Whale Alert has already detected a massive chunk of Bitcoin being sent to the major cryptocurrency exchange, Bitfinex. An anonymous whale transferred 7,000 Bitcoin to it – the value of this cryptocurrency amounting to $244,457,443.
Over the past 24 hours, the price of Bitcoin has shown a decrease of 3.64% after a previous increase of over 5%.