The Fear and Greed Index for Bitcoin is a good indication of the current market sentiment towards the King of Cryptos and as of May 11, 2019 it is standing at 76 which an improvement of 5 points than the previous update and a great leap from last month's 51. Now, this analysis is quite reflective of the current upward movement of Bitcoin as it is releasing the energy, excitement and enthusiasm in the marketplace.

Here is a plot of the Fear & Greed Index over time, where a value of 0 means "Extreme Fear" while a value of 100 represents "Extreme Greed".

Source: https://alternative.me/crypto/fear-and-greed-index/

Interesting, isn't it? By the way, this is not my own analysis, and I am not the one making it up.