BitDAO Dropped -8.09% in Last Month and is Predicted to Drop to $0.392611 By Jul 13, 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 -4.20% today against the US Dollar
• BIT/BTC decreased by -4.38% today
• BIT/ETH decreased by -4.47% today
• BitDAO is currently trading 12.28% above our prediction on Jul 13, 2023
• BitDAO dropped -8.09% in the last month and is down -3.23% since 1 year ago

BIT price is expected to drop by -10.94% in the next 5 days according to our BitDAO price prediction

is trading at $ 0.440820 after losing -4.20% in the last 24 hours. The coin underperformed the cryptocurrency market, as the total crypto market cap decreased by -2.63% in the same time period. BIT performed poorly against BTC today and recorded a -4.38% loss against the world’s largest cryptocurrency.

According to our BitDAO price prediction, BIT is expected to reach a price of $ 0.392611 by Jul 13, 2023. This would represent a -10.94% price decrease 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 negative trend recently, as the coin lost -8.09% in the last 30-days. The medium-term trend for BitDAO has been bearish, with BIT dropping by -14.62% in the last 3 months. The long-term picture for BitDAO has been negative, as BIT is currently displaying a -3.23% 1-year price change. On this day last year, BIT was trading at $ 0.455533.

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 $ 0.643247, while the cycle low is at $ 0.269991. BIT has been displaying low volatility recently – the 1-month volatility of the coin is at 7.04. BitDAO recorded 15 green days in the last 30 days.

BitDAO technical analysis for today – Jul 08, 2023

The sentiment in the BitDAO markets is currently Bearish, and the Fear & Greed index is reading Greed. The most important support levels to watch are $ 0.438700, $ 0.432914 and $ 0.421652, while $ 0.455749, $ 0.467011 and $ 0.472797 are the key resistance levels.

Bearish sentiment for BitDAO

2 indicators are currently signaling a bullish prediction for BitDAO, while 23 indicators are showing a bearish forecast. With 92% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for BitDAO.

Crypto market is currently experiencing Greed

Currently, the Fear & Greed index is at 58 (Greed), which signals that investors have a positive 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 52.42, 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 above the SMA 50 trendline, which is a bullish 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 decrease by -10.94% to hit our $ 0.392611 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.