The fear and greed index has been updated to “greed” as bitcoin hits $42,600.
Bitcoin has seen a resurgence in price following twelve consecutive days of bullish momentum. Bitcoin has seen twelve days of green for the first time since February as it headed towards its previous all-time high.
However, following a dramatic decline to $29,000 in July, bitcoin has managed to climb nearly 45% in less than two weeks. Currently priced at $41,600 on Sunday, the fear and greed index has shifted to 60, which indicates greed in the market. The shift in momentum comes one month after the fear and greed index was at 21, or extreme fear.