New Bitcoin Index from Wall Street Analysts

Cryptocurrency trading is still something new for traders as well as for analysts, because cryptocurrency functions based on its own rules. That is why, for now it is very complicated to forecast how the crypto-coins prices are going to move and what influences them.

But analysts understand that cryptocurrency may be the next step in money development, hence, forecasting its price movement is important. The analysts from Wall Street designed a new index for bitcoin, the “Bitcoin Misery Index”. This tool should help investors to use volatility periods in the crypto-market to earn.

The BMI can have a value from 0 to 100, and is calculated based on the information about volatility, the number of winning trades. The lower the value is, the better are opportunities to buy. If the index is below 27, traders have good chances to earn from future returns.

Tags:

Add a Comment

Your email address will not be published. Required fields are marked *