The biggest cryptocurrency Bitcoin 
$79,504The price of (BTC) reached a new historical peak, reaching 80 thousand dollars. This rise was driven by high trading volume supported by increased interest from both individual and institutional investors. However, considering that Bitcoin’s price has entered the price discovery process at this point, the opinions of market experts are divided into two. While some predict that the rise may continue, others warn that the price may face a possible correction.
Signal of Extreme Greed: Could Lead to Profit Selling
Crypto Fear and Greed Indexis currently at 78, which is an “Extreme Greed” signal. This high level indicator indicates that optimism and excitement are increasing among market participants, which may push prices even higher in the short term. However, periods of excessive greed are often known to herald corrections. For this reason, investors may turn to profit selling in order to protect their earnings.
CryptoQuant CEO Ki Young JuEmphasizing that all Bitcoin wallet addresses are in profit, he stated that some investors may consider this opportunity and sell. Stating that Bitcoin has entered the price discovery phase, Ju said, “We often see corrections when these levels are reached.”
Considering that large investors took profits when the previous peak prices were reached and this led to withdrawals, a similar “fourth wave correction” can be expected at this new peak at $ 80 thousand.
Investors Should Be Cautious
Although Bitcoin reaching a new peak is seen as a turning point in the market, experts emphasize the importance of a cautious approach. Since sharp price movements at historical peaks may trigger sudden declines, caution is recommended, especially for investors who do not have high risk tolerance.
biggest cryptocurrencyWhether the rally continues will depend on how determined investors are at this point and the general risk appetite in the market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
