Bitcoin(BTC) Price to Breach $50K? Greed Index Points that Traders Are in Potential Danger

On March 28, Bitcoin(BTC) price soared above $48,100, with an intraday increase of more than 4%, a weekly increase of more than 12%. Bitcoin's price touched its highest level in 84 days. After weeks of trading downward, Bitcoin now returns to its 2022 opening price with the potential of claiming back $50,000. A well-known crypto analyst and trader, Credible, says to his 319,500 twitter followers that Bitcoin seems to have entered the fifth wave of its bull cycle and is about to rally above $130,000.

However, in the face of the rise of the largest virtual currency, the Greed Index points out that traders are also in potential danger, and traders should be vigilant in this great bullish market.

Warren Buffet once said: “Be fearful when others are greedy, and greedy when others are fearful.” In the past week, the Greed index has almost approached 70 (the metric uses a numeric scale that travels from one to hundred to represent this sentiment), which shows that the market is becoming more and more greedy and impatient. This value of the metric is now more than in any other period in the year 2022 so far, and is the highest since the peak in early November of last year. Historically, Bitcoin peaks have tended to happen while the sentiment is that of extreme greed, and bottoms have formed during periods of extreme fear.

There is a popular trading technique called “contrarian investing” that makes use of this fact. Traders following this methodology think that the best time to buy is during extreme fear, while extreme greed is when one should sell.

No matter whether there will be a bullish or bearish run, crypto futures trading with 100x leverage helps you earn money with small capitals invested, so traders can earn money as long as their predictions are right. While spot traders only earn profits when the price of bitcoin goes up. Furthermore, traders can borrow leverage from exchanges to increase their buying power, thus multiplying their profits.

 

The 100x Leverage

Bexplus offers the 100x leverage which allows you to open 100 positions with a margin of 1 and trade the market with 100 positions. In short, with 100x leverage provided by Bexplus, your profit can be 100 times more than the profit brought by the original investment. For example, let’s say you open a long contract with 1 BTC when the price is $45,000, if the price rises to $46,000, your profit would be (46000- 45000) * 1 BTC * 100x = $100,000.

 

100% Deposit Bonus

In addition to 100x leverage, Bexplus's 100% bonus campaign also helps low-stake investors earn high profits quickly. If you top up 1 BTC, there will be 2 BTC on your account and you can trade with the 2 BTC to make a bigger profit. Attention! Up to 10 BTC bonuses can be obtained. And the bonus cannot be withdrawn. You can withdraw the profits earned with the bonus.

 

Wallet with 21% Annual Interest

Bexplus provides all traders with a safe way to obtain benefits - a wallet that provides 21% annual interest. The wallet provided by Bexplus enables every investor to earn money even in a volatile market. You just need to put parts of your money into the wallet so that you can gain a sustainable profit in an uncertain market. And the 21% annual interest is almost the highest in the industry. At the same time, if at a certain moment you are optimistic about the market and want to enter, the immediacy of transfers between trading accounts and wallets also protects stable transactions.

 Know More About Bexplus

Bexplus is a reputable crypto futures trading platform that is currently used by more than one million people worldwide for futures trading in various currencies such as BTC, ETH, ADA, DOGE, XRP. It is a safe platform accredited by MSB (Money Services Business).

 

Other Superiorities of Bexplus

  • No KYC - only an email is needed to sign up without any other personal information.
  • A simulation account for novices and verification strategists - with unlimited existing deposits, you can familiarize yourself with the platform and verification strategies without risk, improve trading skills, and formulate trading strategies.
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  • Mobile Support - trade anytime, anywhere for iOS/Android users.
  • 7/24 hours one-to-one service - solve your problems at any time.
  •  Withdraw or deposit at any time - fast withdrawal without any time limit, and no deposit fee.

 

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