It's hard to sustain a BTC price bull run in 2023 — here are three reasons why.
This has implications — the higher the score, the more likely the market is behaving irrationally and is due for a correction.of just 6/100 at one point. Fast forward to Q1 2023, however, and its reading is ten times higher, reflecting irrational “greed” as the overriding market force.Crypto Fear & Greed Index . Source: Alternative.meIf existing hodlers are too eager to bet on the good times continuing, outside the crypto sphere, conditions look very different.
Compared to the past five years, interest in the term “Bitcoin” is near its lowest recorded levels since mid-2020. The price may be higher, but for mainstream interest users, Bitcoin currently does not represent a reason for"FOMO," or even a topic worth investigating.by an influx of new buyers, BTC price action arguably has a way to go before historical patterns repeat themselves.Turning to short-term price charts, a cloud which appeared as part of the run-up continues to hang over bulls.
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