BTC long-term investors, what you can do

The price of bitcoin dropped below $17,700 on June 18, 2022. That day it went down to its lowest point for the whole year. The cryptocurrency at the top of the charts has gone up and down since then. But Bitcoin has kept rising and hasn’t been at those levels since. Instead, most of its time has been spent trading above $20,000. This website is the best trading site where you can invest easily

Now, it’s possible that the BTC price will go in a different direction. An analyst at CryptoQuant named Tomá Hanar said that Bitcoin (BTC) is one-third of the way to its lowest point. 

What brought this about?

The 20-day Simple Moving Average has been in a neutral state for the past three months, according to Hanar’s research. Hanar then said that the Long Term Holders (LTH) output profit ratio inside the 20 Simple Moving Averages showed that the price was likely to go up by one-third from the bottom. He said it was likely that in 2018 and 2019, the situation would change from a bear market to a bull market. Hančar stated,

“As far as the indicator’s 20-day MA smoothing line is concerned, between July 10 and 14, we saw what looks like a bounce off of 2020 actual LTH SOPR low, which wasn’t too far from the 0.49 level, which was the very low point of both 2015 and 2018/2019 cyclical bottoms.”

Even though the study might have made investors think they should start buying, Hanar emphasized the importance of being careful. He said the price could go back below $20,000 before it was sure to go up above that level.

Who else agrees?

Glassnode had already said that they didn’t think the bear market was over for good. Is there anything else that fits with what Hanar said would happen?

The 20-day Exponential Moving Average (EMA) in blue and the 50-day EMA (yellow) were almost at the same level, showing that the market was still considered neutral. This was shown on the BTC chart. Short-term traders may want to keep an eye on where Bitcoin goes next because of this pattern.

Over a longer period, the 200 exponential moving average (in cyan) showed signs of going up and stayed just below $22,500 per bitcoin. Given this, Hanar’s prediction about how much BTC would cost could come true.

According to CoinMarketCap, the price of Bitcoin at the time this article was written was 23,176. Now that the price of Bitcoin has gone up by 1.09%, it might be risky to buy more Bitcoin because long-term investors tend to wait and see.

How to Invest in the Best Cryptocurrencies Over the Long Term

When it comes to money, the last thing you should do is jump into something without knowing much about it or being ready for it. Work hard, research, and learn as much as possible about the business, the coins, the projects, and the technology. For example, we’ve all heard of someone who put money into a cryptocurrency and got a lot of money back. But you shouldn’t always believe what you see on social media.

Don’t put your hard-earned money into something you don’t fully understand. Spend some time learning about how the project works and how you work as an investor. 

Allocation

Because Bitcoin and ETH, the native currency of the Ethereum blockchain, make up 60% of the cryptocurrency market, these two commodities will make up a big part of your investment portfolio. If you buy these two cryptocurrencies, your portfolio will represent the whole cryptocurrency market well.

The rest of your portfolio can be split up into different investments, each of which should be focused on something you’re interested in.

About 
Passionate about design, especially smartphones, gadgets and tablets. Blogging on this site since 2008 and discovering prototypes and trends before bigshot companies sometimes