The crypto Fear and Greed Index is now in the “extreme greed” zone.
The Alternative.me index, created by developers and creators of Strawpoll.com and Thundercheck.org, analyzes market volatility, surveys and social media to determine the current overall sentiment of crypto traders. According to the creators of the index, when the needle gets greedy, the market is likely due for a correction.
As the price of Bitcoin skyrockets, BTC’s dominance in the overall crypto market continues to soar and now stands at 61.46% according to CoinMarketCap.
That’s the highest level of dominance the leading cryptocurrency has captured since April of 2017.
Technical analysts are scrambling to keep up with the frenetic pace of the crypto market. The overall market cap, which now stands at $386 billion, has increased a hefty $100 billion in the past seven days.
Here’s an overview of the most recent analysis on four of the leading cryptocurrencies by market cap.
Coinspeaker – XRP/USD may beak out at $0.50 level
Blockonomi – LTC lagging behind as sellers take control