In the Bitcoin market, the biggest question on any investor’s mind is this – “When should I invest?” And, that’s a fair question, especially since profitability is the only driving factor for an investor.
Well, it looks like the opportunity has once again arrived since Bitcoin is at its highest profitability in a while. Here’s how you can bet on that –
Bitcoin is profitable
Based on the strong market rally of the past 6 weeks and the hard-hitting crash that followed, there is some apprehension if the market is overheating or not.
An overheated market refers to a rapidly growing market that turns unsustainable. However, that does not seem to be the case when one looks at the BTC market right now. In fact, this is the best time to jump in as buying opportunity is pretty profitable at the moment.
Traditionally, the 200-day moving average (DMA) is considered to be a standard indicator of buying and selling. If BTC’s price is above it, it’s usually the beginning of strong upward movement. On the contrary, movement in the opposite direction is usually an indication of a fall.
Right now, Bitcoin’s price movement is in line with the 200 DMA – A clear sign that th