Bitcoin Greed Index Rises, Altcoins Expected to Outperform – Glassnode Report
Decentralized assets show signs of renewed hope in the system, as most of the cryptocurrency market, including Bitcoin (BTC), attempts to offset losses accumulated in recent days due to regulatory restrictions.
According to a new report from Glassnode on February 10, the fear and greed index for Bitcoin was in the greed zone at 58, and unrealized profits have exceeded losses in recent weeks, indicating increased market optimism.
Glassnode’s blockchain and finance analytics platform also noted that the recent consolidation in the markets was anticipated. Altcoins are expected to continue to outperform once the dust settles as investors turn to riskier assets.
Despite recording losses of 4.99% across the week, Bitcoin is currently trading at $21,650, representing a modest improvement of 0.16% on its daily chart and 3% higher than 30 days prior.
Robert Kiyosaki, the author of the best-selling personal finance book ‘Rich Dad Poor Dad,’ is one of many vocal Bitcoin supporters predicting a bright future for the digital asset, projecting it to reach $500,000 by 2025.
READ MORE: Bitcoin: Bloomberg Analyst Shares Warning about Massive Threat
Additionally, payment giant VISA partnering with leading crypto payments platform Wirex to launch crypto-enabled debit and prepaid cards for Bitcoin and other cryptos in more than 40 countries is expected to positively impact digital asset prices in the future.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
