Bitcoin Sentiment Check! 11 Consecutive Days Above Fear in Bitcoin Fear and Greed Index
The Bitcoin Fear and Greed Index, a measure of the sentiment of the cryptocurrency market, is currently in the “Greed” zone with a score of 61. This is the highest level since the bull run of November 2021, as Bitcoin clocked its 11th consecutive day outside the “Fear” zone, the longest streak since March 2022. The recent price surge has brought 64% of Bitcoin investors back into profit, according to data from IntoTheBlock. However, opinions are divided on whether the rally is a bull trap or a sign of a real bull run, with some experts calling for caution and others suggesting a short-term price surge toward $25,000.
Ripple Takes the Lead in Montenegro’s Crypto Pilot Project
Montenegro’s central bank and fintech company, Ripple, has partnered to launch a pilot project to create the country’s first digital currency or stablecoin. The project was announced by Montenegrin Prime Minister Dritan Abazović, who met with Ripple CEO Brad Garlinghouse and VP James Wallis during the World Economic Forum in Davos. Currently, Montenegro uses the euro instead of its own national currency. The exact details of the digital currency are still unclear, but the country has been working towards becoming part of the cryptocurrency industry and has gained a reputation for its acceptance of crypto. Ripple has been involved in various CBDC projects and is a founding member of the Digital Dollar Project and the Digital Euro Association.