Bitcoin stays out of fear for 11 straight days as price tips near 24K

Bitcoin (BTC) has actually simply clocked its 11th consecutive day outside the “Fear” zone in the Crypto Fear and Greed Index, sealing its longest streak out of fear since last March.Bitcoin Fear and Greed Index is 61-Greed Present rate:$ 23,780 pic.twitter.com/U5gxN3AwnT!.?.!— Bitcoin Fear and Greed Index (@BitcoinFear
)January 30, 2023 This comes as Bitcoin hit$23,955 at 8:10 pm UTC time on Jan. 29, its highest level of the year. It has considering that returned down somewhat, to$23,687 at the time of writing.Meanwhile,

Bitcoin sentiment is currently sitting firmly in the “Greed” zone with a rating of 61, its greatest level considering that the height of the bull run around Nov. 16, 2021, when its cost was

about$65,000. Bitcoin Fear and Greed Index over the last 12 months. Source: Crypto Fear and Greed Index.However, despite Bitcoin’s strong resurgence in recent weeks, market individuals continue to dispute whether the current price surge belongs to

back into the green.According to information from blockchain intelligence platform IntoTheBlock, 64 %of Bitcoin investors are now in earnings. Those who initially purchased BTC back in 2019 are now– typically– back in earnings too, according to on-chain analytics platform

Glassnode.We can compute the typical acquisition price for #Bitcoin by tracking exchange withdrawals.The chart below programs the

typical withdrawal price for financiers for each year.The average class of 2019 +$BTC is now back in earnings(at $21.8 k) Live Chart:

https://t.co/yuhvydV70c pic.twitter.com/skjrM6w5lH!.?.!— glassnode (@glassnode )January 29, 2023

The typical novice buy rate for BTC investors in 2019 was$21,800, which implies those investors are on average up about 9%at the Jan. 29 cost of$ 23,687. Related: Bitcoin eyes$ 25K as BTC rate nears finest weekly close in 5 months Meanwhile, a Jan. 29 survey from crypto market platform CoinGecko has exposed that 57.7%of 3,725 citizens think BTC will surpass $25,000

this week, while only 21.2%of voters think BTC is primed for a pullback below$22,000 . A CoinGecko survey on BTC price forecast for the upcoming week. Source: CoinGecko The founder and CEO of Vailshire Capital, Dr. Jeff Ross, likewise supplied a technical analysis of his own on Jan. 29, recommending that a rate surge towards$25,000 in the short term might be on the cards: The strength of #bitcoin on the 4-hour charts continues to be impressive.While cost action has trended sideways for over a week

, short-term indications(MACD, RSI) have once again reset … and are now ramping higher.A rate surge to ~$ 25k is likely.(Not financial investment advice )pic.twitter.com/QaPbNrxtxZ!.?.!— Dr. Jeff Ross (@VailshireCap)January 29, 2023 Other experts have actually called for fired up financiers to taper some of their expectations, however.Head analyst Joe Burnett of Bitcoin mining business Blockware told his 43,900 Twitter fans on Jan. 29 that BTC will not reach and surpass its all-time high of$69,000 till after the

next Bitcoin cutting in half occasion, which is expected to occur in March 2024: I do not think Bitcoin will make a new all time high until after the 2024 halving.Dovish macro conditions and reduced miner sell pressure will cause the next parabolic bull run.Using Energy Gravity as a prospective top sign, I expect the next peak to be $150k-$ 350k.

pic.twitter.com/OfCER7s8Zq!.?.!— Joe Burnett()³ (@IIICapital )January 29, 2023

Macroeconomist and investment adviser Lyn Alden also recently told Pandoraland that there might be”substantial risk ahead”with potentially dangerous liquidity conditions expected to shake the market in the second half of 2023.