With prices surging throughout the crypto market, the crypto community is currently divided on the question of whether to sell or hold.
People are discussing the greed and fear index as an indicator of what actions to take.
Growing Crypto User Expertise Over Time
Amid rising prices in the crypto market, numerous members of the crypto community are turning to X (formerly Twitter) to voice their speculations about whether to sell or hold.
At the time of publication, Bitcoin has surged by approximately 23% over the last seven days, reaching a current price of $34,849.
Pro-XRP lawyer John Deaton, declares his hesitancy over the apparent rise in the crypto market.
“Okay I have to admit that when everyone is saying the bull market is back it makes me hesitant,” he says.
“Buying is an easy decision. Selling is by far the much harder decision. If we’re losing, we don’t want to admit we got it wrong, so we don’t sell.”
“I’m 100% taking profits based on the experiences and stories I’ve heard from people like you that have been in the space for a while,” another user says.
Crypto Industry Leaders Have Been Forecasting a Bull Run in Recent Times
It was only a few weeks ago that a crypto industry leader told BeInCrypto that the market is due for a bull run.
Pavel Matveev, CEO of Wirex, shared with BeInCrypto on October 12 that the Grayscale legal triumph against the US Securities and Exchange Commission (SEC), which mandates the regulator to reevaluate its recent denial of a spot Bitcoin ETF proposal, signifies a pivotal moment in the cryptocurrency industry.
Matveev elaborated that the introduction of a spot Bitcoin ETF would broaden market access for both retail and institutional investors, potentially leading to increased capital inflows that could drive up prices.
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