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Is greed about Bitcoin normal at the moment?


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 Bitcoin broke all previous records and reached unprecedented levels.

In 2017, Bitcoin stayed above $ 20,000 for less than 24 hours after which it recorded an immediate decline.

Within a month, Bitcoin was under $ 10,000, and there was a minimal recovery to the top.

While on the ascending path of 2020-2021 it was completely different.

Bitcoin continued to hit new records after rising above $ 20,000.

Is greed permissible towards Bitcoin during this period?

According to the latest data from Santiment, Bitcoin buying dominated the spot trading platforms in the past 48 hours after Bitcoin touched its highest level at nearly $ 42,000.

This came after a short period of uncertainty and the emergence of heavy selling, but it did not significantly affect the price of Bitcoin, which continued to rise and reach higher levels.

However, the possibility of a massive sell-off remains and could happen at any moment.

According to “Glassnode” data, the flow of bitcoin to trading platforms reached an all-time high of around $ 110 million a few hours ago.

The last all-time high was observed on July 29, 2019.

And the chart shown above shows that bitcoins are becoming active on trading platforms again, perhaps from a sell-off perspective.

The higher flows of the trading platforms were a significant bearish signal that was expected to affect the market.

How do bitcoin investors feel when their assets are rising?

Bitcoin hit its all-time high of $ 20,000 in December 2017 and spent less than 24 hours at the top.

Then the bitcoin price fell rapidly, as we mentioned at the beginning of the article.

How do bitcoin investors feel when their assets are rising?

The dangerous move that Bitcoin made in 2017 and 2018 is still on the minds of many Bitcoin investors.

But the current rally is completely different from all previous Bitcoin highs, as Bitcoin continues to rally without any sign of stopping or subsiding.

So many investors feel a sense of greed and greed towards Bitcoin reaching higher numbers than it is currently.

As investors are now comfortable riding the wave of bitcoin price