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- Crypto Fear & Greed Index marks 94 score indicating extreme greed.
- Experts believe BTC price is in a range where it should have been in 2021.
- Bitcoin ETF approval caused BTC pump, XRP could pump now without SEC interference.
Bitcoin has just set a new ATH at $99,502.92, just a mere few hundred from setting its first 6-digit ATH at $100,000. Analysts are certain that this new ATH will be set soon as the crypto market is in the thick of Q4, the most bullish quartered for Bitcoin historically. While many analysts are certain $100,000 will be met soon, others are setting sights on cycle top highs.
Crypto Market Scored 94 in Extreme Greed Sentiment
Seasoned and reputed analysts expect Bitcoin (BTC) ATH prices to hit new highs in the $220,000 price range. If Bitcoin sets 6-digit ATH this quarter the asset can continue to pump in price next year. Presently, the sentiment for Bitcoin and the crypto market is at a score of 94 indicating ‘Extreme Greed’ according to the Crypto Fear & Greed Index.
As Bitcoin maintains its continuous rally, one post highlights a conversation between crypto and financial experts in the space. As we can see from the video in the post above, the speakers talk about how the SEC’s interference in 2021 had led to stunted growth for Bitcoin and the larger crypto industry.
JUST IN: 🇺🇸 Bitcoin is now at the price it should have been in 2021 if the SEC did not reject spot #Bitcoin ETFs and hold back the industry – Anthony Scaramucci pic.twitter.com/k0NuhGNwNK
— Bitcoin Archive (@BTC_Archive) November 21, 2024
XRP and Bitcoin Could Reclaim Its Stolen SEC Glory
To highlight, the video states that experts believe the price of Bitcoin (BTC), at the moment in its $99,000 price range is what the pioneer crypto asset should have been in 2021 had the SEC not rejected spot Bitcoin ETFs then. The fact that these Bitcoin ETFs have been approved how is what has led to the current crypto market pump.
Thus, the pump in Bitcoin presently could be driven by this delayed reaction giving rise to the possibility that Bitcoin (BTC) price can hit much higher highs in the 6-digit price range this bull cycle. The same growth could also be possible for Ripple’s XRP, another asset that dealt with the SEC’s stern hand last cycle.