60% of South Korean Investors Predict BTC Will Rally to New All-Time Highs, Crypto Fear and Greed Index at 75
According to a survey of crypto investors in South Korea, 62.7% of respondents (38.6% last week) expect Bitcoin to rise or surge this week. Sideways movement was expected by 23.0% (46.5% last week), while 14.3% (14.9% last week) expected a decline and a sharp drop. When asked about market sentiment, 45.6% said they were bullish or extremely bullish. 39.0% were neutral.
With Bitcoin's recent rally back above $50,000, 60% of respondents said yes to the question of whether this rally could lead to a new all-time high. The remaining 40% believe it will not lead to a new all-time high and will likely see a correction.
Crypto data provider Alternative's self-estimated Fear-Greed Index rose three points from the previous day to 75. The greed phase continued with improved sentiment. The index indicates extreme fear in the market, with readings closer to zero indicating extreme fear, and readings closer to 100 indicating extreme optimism. The Fear Greed Index is calculated based on volatility (25%), trading volume (25%), social media mentions (15%), surveys (15%), Bitcoin market capitalization (10%), and Google searches (10%).
