As of November 10th, data from COINOTAG reveals that the cryptocurrency Fear and Greed Index has surged to 78, up from yesterday’s reading of 75. This upward trend indicates a prevailing bullish market sentiment, transitioning from a state of greed to extreme greed, marking the highest level observed since June 5th. The Fear and Greed Index, which operates on a scale of 0 to 100, incorporates several key indicators. These include volatility (25%), market volume (25%), social media activity (15%), market surveys (15%), Bitcoin’s dominance ratio (10%), and Google Trends analysis (10%). The continued increase in this index reflects heightened investor optimism, suggesting a potential for increased trading activity and further market growth in the coming weeks.
Source: https://en.coinotag.com/breakingnews/bitcoin-soars-as-cryptocurrency-fear-and-greed-index-hits-extreme-greed-at-78/