Average Sentiment

After a very strong couple of weeks to end the month of March where the sentiment came roaring back we are starting to see a bit of neutrality. This is not a bad thing as people are starting to settle down after a nice run-up in price. You can still feel that the tension in the market is nowhere near as thick as it was when the war in Ukraine started and interest rate hikes were announced. Sentiment is a great chart to follow to get a real gauge of how investors are feeling towards the current market climate. The general idea being that when sentiment is positive it is reflected by upward price action and the same can be said for the opposite.

This is also backed up by looking at the Fear and Greed index of Bitcoin. For a frightening period of time, we were stuck in extreme fear but have thankfully swung back to its current state of being neutral. We will see where we go from here but even the ongoing war has not dampened the up trend that we have been on. Hopefully this continues into the ETH 2.0 merger, if that actually happens this time, which will set us up nicely for the next few months.