Bitcoin Misery Index for Traders – For you who are interested to invest your money in the form of Cryptocurrency, the term of Bitcoin misery index for traders must be familiar enough. Unfortunately, it seems that many traders seem ignore this phenomenon. Well, this index is indeed a new thing. It has been found and developed by the Wall Street analyst, Thomas Lee. Therefore, it is a good thing if you want to learn more about this matter.
There is a pattern commonly done by the traders in investing their money, in general. Well, when the value is increased, it is the time to sell your Bitcoin or other Cryptocurrencies. On the other hand, you can buy them when the values are lowered. Of course, it is basically to let you gain the profits – something looking for in this activity. However, the value is surely not easy to predict. There are too many factors influenced starting from the total turnover of transaction, market volatility, and more. To solve them, you need the index to calculate the transaction share.
For the explanation above, it can be concluded that the misery index is to show the real value that you need to buy the Cryptocurrency now. In this case, it is Bitcoin.
The Best Development Dynamics from Bitcoin
The analyst in CNBC has noted that Bitcoin almost always shows the best annual development dynamics. It is after the index is lowered below the spot of 27. According to Lee, this situation is happened every year. Recently, the index is 18.8 from 100 of possible points. This number is the lowest from September 2011. Surely, it doesn’t mean anything. This indicator even shows the Cryptocurrency holders particularly Bitcoin. There are cases whether the holders are really satisfied with the currency or not. it is including for Bitcoin, the Cryptocurrency that is considered as the most popular one.
Another example is what has been happened last week. The value of Bitcoin was lowered around 24% compared to the highest level on Monday. In one point, this situation is actually relieving in which the misery of coin holders si minimized. But if looking to the other side, it is only a short-term phenomenon. For this fact, it is much better to consider other things particularly the long-term ones. One of them that the situation is predicted to be worthy for the market.
There are other 4 times of situation when the index is lowered under 27 points on the misery of Bitcoin. This Cryptocurrency was then significantly strengthened its position for the next 12 months. As a result, the best time for Bitcoin was finally coming. It is around last week when the Binance exchange in Hong Kong reported that some accounts were able to be compromised. At the same time, it was known that the security commission of US exchange also tightened the control toward its own exchange.
Such situations were not only happened in those two areas but all around the world. When it is continued, it will keep influencing the Bitcoin misery index for traders. Bitcoin will then be predicted to increase next month.