Bitcoin bulls have never been greedier
The Crypto Fear & Greed Index has surged along with bitcoin, and the 5-day average of the indicator has just hit a record high. It just passed the prior record 5-day Greed reading from June 27, 2019, after which most cryptocurrencies suffered losses in the months ahead. The Backtest Engine shows that there have been 64 days when Crypto Fear & Greed had a daily reading above 70. Over the next 2 months, bitcoin enjoyed a positive return after only 17 of them, a 27% win rate, with a median return of -6.2%.
