We are nearly in the "fear" range….at $60k lol

https://preview.redd.it/2beyvy911j9d1.png?width=892&format=png&auto=webp&s=8a3745f553e0a962b2dd72d4f0277dd89a7d8316

Good to have some perspective. Worth is hanging round $60k/$61k proper now and this worry/greed index on CMC is at 44. It was ~84, in "excessive greed", on the finish of February on the similar worth. Now sentiment is nearly straight up bearish. Worth is double what it was 8 months in the past and we're nearly tipping into worry.

For all you folks (whoever you might be) who’re really afraid proper now, that is why spending a number of months with the worth ranging is nice and sooo wholesome for the market. $60,000s is now utterly normalized and isn’t thrilling in any respect, in actual fact fairly the other, individuals are really frightened now at any time when worth drops within the low or mid $60,000s.

A couple of months in the past on the similar worth folks had been appearing like we had been in full on bull run mode and a few elements of the market had been coming into into excessive hype. Now with a couple of months of ranging sideways within the $60,000s the tremendous puffed up worth is a boring decrease fearful worth.

Whereas we’re nonetheless on the similar worth as 4 months in the past, what the market has gotten in trade for that could be a base double the worth of the outdated base from final 12 months. We've gotten a market that moved from excessive greed to almost fearful whereas sustaining the identical worth. That could be a large wholesome market enlargement in just some months.

That is how Bitcoin retains going up eternally. By costs that had been as soon as thought-about excessive, now thought-about completely regular and boring and can quickly be thought-about low. The market solely goes up sustainably when market sentiment normalizes a worth vary. This Spring the market has normalized the $60,000s as a boring sh*tty worth whereas at the beginning of the 12 months folks would have been busting in pleasure over this worth this quickly.

Bitcoiners or anybody with understanding of finance will get this. In the event you don't get this and you might be fearful proper now, maintain educating your self!