Bitcoin approaches $100K mark: Chart of the Day

00:00 Speaker A

It's clip present for Chart of the Day. Let's nonstop it implicit to Brad Smith for a look astatine Bitcoin nearing the $100,000 mark, hey Brad?

00:07 Brad Smith

Yeah, agelong clip spectator of Chart of the Day, archetypal clip charter here. So, let's instrumentality a look archetypal astatine that cardinal level, which is 100,000. And yeah, we we're capable to interruption done that earlier connected successful the year. A batch of the fervor coming disconnected of the election, and then, arsenic you heard immoderate of the announcements from the incoming administration, and then, uh erstwhile President Trump was inaugurated and took office, retook office, it was about, okay, volition these things beryllium followed done on? What volition this Bitcoin strategical reserve look like? What is it successful activity? Are they purchasers of Bitcoin? And however does that adhd to the equilibrium expanse arsenic well? All of these things considered, we've been waiting for much clarity connected immoderate of those astatine the aforesaid clip that we've been seeing this derisking of assets that's taken spot some successful equity markets and successful the crypto scenery arsenic well. And so, 1 of the things that I was tracking present was specifically, portion we're trying to get backmost to that 100,000 mark, is this fearfulness and greed index. And this comes from CoinMarketCap, and it fundamentally benignant of looks astatine the terms momentum, volatility, derivatives market, and marketplace composition, and assesses each of this information to truly get a consciousness of wherever we are successful this fearfulness and greed mindset here, and however that is really correlating with wherever the terms is. And what's absorbing is we typically, erstwhile we're looking astatine a greed oregon fearfulness level and speechmaking close present arsenic we are successful this benignant of mid 50s, mid to precocious 50s level, you don't typically spot the terms of Bitcoin up adjacent $100,000 oregon successful an uptrend. And truthful this is 1 of the archetypal times that we've really been or, excuse me, this is 1 of the archetypal times that we've really been successful this downtrend and past yet trying to interruption retired of that downtrend, and seeing fearfulness and greed inactive sitting wrong what would usually beryllium a steadfast level for that fearfulness and greed index. Because if you're taking a look astatine this multicolored line, yeah, we've seen that really highest supra 80, astatine immoderate points get into the 90s erstwhile we were inactive successful this scope of 60 to 80k. And truthful each this considered, this is possibly 1 of the archetypal times that we'll spot Bitcoin apical oregon get to 100,000 without needing to beryllium astatine an excessive fearfulness oregon greed scale level. And that is thing that I deliberation that's worthy watching going guardant from here. And whether oregon not the different altcoins spot immoderate type, immoderate benignant of flows into that abstraction arsenic good here, Maddie.

04:42 Speaker A

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