BitDAO is Trading -8.30% Below Our Price Prediction for Feb 05, 2023

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.

• BitDAO is down -15.67% today against the US Dollar
• BIT/BTC decreased by -12.47% today
• BIT/ETH decreased by -11.95% today
• BitDAO is currently trading 8.30% below our prediction on Feb 05, 2023
• BitDAO gained 38.95% in the last month and is down -66.85% since 1 year ago

BIT price is expected to rise by 9.05% in the next 5 days according to our BitDAO price prediction

BitDAO price today is trading at $ 0.481019 after losing -15.67% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -12.93% in the same time period. BIT performed poorly against BTC today and recorded a -12.47% loss against the world’s largest cryptocurrency.

According to our BitDAO price prediction, BIT is expected to reach a price of $ 0.524555 by Feb 05, 2023. This would represent a 9.05% price increase for BIT in the next 5 days.

BIT Price Prediction Chart

Buy/Sell BitDAO

What has been going on with BitDAO in the last 30 days

BitDAO has been displaying a positive trend recently, as the coin gained 38.95% in the last 30-days. The medium-term trend for BitDAO has been bullish, with BIT increasing by 12.05% in the last 3 months. The long-term picture for BitDAO has been negative, as BIT is currently displaying a -66.85% 1-year price change. On this day last year, BIT was trading at $ 1.45.

BitDAO reached its all-time high price on Nov 12, 2021, when the price of BIT peaked at $ 3.08. The current BIT cycle high is $ 0.593549, while the cycle low is at $ 0.269991. BIT has been displaying high volatility recently – the 1-month volatility of the coin is at 15.24. BitDAO recorded 19 green days in the last 30 days.

BitDAO technical analysis for today - Jan 31, 2023

The sentiment in the BitDAO markets is currently Bearish, and the Fear & Greed index is reading Neutral. The most important support levels to watch are $ 0.488057, $ 0.463678 and $ 0.418364, while $ 0.557751, $ 0.603064 and $ 0.627444 are the key resistance levels.

Bearish sentiment for BitDAO

9 indicators are currently signaling a bullish prediction for BitDAO, while 19 indicators are showing a bearish forecast. With 68% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for BitDAO.

Crypto market is currently experiencing Neutral

Currently, the Fear & Greed index is at 51 (Neutral), which signals that investors have a neutral outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A “Greed” reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A “Fear” reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity.

BitDAO moving averages & oscillators

Let’s take a look at what some of the most important technical indicators are signaling. We’ll be going through key moving averages and oscillators that will allow us to get a better idea of how BitDAO is positioned in the market right now.

The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for BitDAO is at 53.66, suggesting that BIT is currently neutral.

The 50-day Simple Moving Average (SMA 50) takes into account the closing price of BitDAO over the last 50 days. Currently, BitDAO is trading below the SMA 50 trendline, which is a bearish signal.

Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that’s calculated by taking an average of the BIT closing price for the last 200 days. BIT is now trading above the SMA 200, signaling that the market is currently bullish.

The bottom line about this BitDAO prediction

After considering the above factors, we can conclude that the current forecast for BitDAO price prediction is Bearish. BIT would have to increase by 9.05% to hit our $ 0.524555 target within the next five days. Moving forward, it will be important to monitor the BIT market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term BitDAO price predictions click here.

Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision.