At the time of writing, the price of Bitcoin (BTC) is $25,970, with the fear and greed index, which measures crypto-community sentiment, reported to be in the neutral-fear zone.
But what does the situation look like over the past seven days?
Bitcoin: the price and the fear and greed index over the past week
At the time of writing, the price of Bitcoin (BTC) is $25,970, with the fear and greed index scoring 39. Here is the tweet from a few hours ago:
The 39 fear and greed index score, being below 50, results in being in the neutral-fear zone. This means that the general crypto-community sentiment toward BTC is leaning toward “fear.”
Indeed, taking a look at the price of BTC for the past seven days, the chart shows that the swings are around $26,000.
The Fear&Greed Index for the last week also mirrors the price of BTC, with a score hovering between 37 and 41, confirming the current general neutral-fear situation.
Bitcoin: the price and the Fear and Greed index before 15 August
To understand the associations between price and BTC and the crypto queen’s Fear and Greed index, it is possible to jump back to before 15 August, that is, before BTC began its bear market.
Indeed, Bitcoin on 15 August was just over $29,000, while its Fear and Greed Index was at 50, meaning it was perfectly in the neutral zone.
In general, Bitcoin’s price has seen a swing around $30,000 for two months in a row, namely from 15 June to 15 August.
During the same period, the Fear and Greed index was a score between 50 and 66 – meaning a neutral leaning toward greed, even though 66 is already greed.
Pantera Capital’s predictions: BTC at $148,000 by 2025
Despite the fact that current crypto-community sentiment seems to be not entirely positive, there are those who are instead releasing Bitcoin price forecasts that are optimistic to say the least.
This concerns Pantera Capital, the hedge fund with $4.8 billion in assets, which stated that Bitcoin will rise to $35,000 before the 2024 halving, and then, by 2025, the price will also rise to $148,000.
This prediction was made considering several basic indicators. Foremost among them is the historical trend of the price of BTC after previous halving. And indeed, his present prediction could come true “if history repeats itself.”
Not only that, the number of users tied to the blockchain is also another indicator. And indeed, Pantera Capital claims that the doubling of these users every 12 months marked a rapid rate of adoption and integration of blockchain across industries.
Another factor considered was also the remarkable stability that Bitcoin’s price has been experiencing over the past 90 days. And indeed, Pantera Capital says that BTC’s fluctuations have been more consistent than 87% of stocks in the S&P 500 index.