Every week, Benzinga conducts a survey to collect sentiment on what traders are most excited about, interested in or thinking about as they manage and build their personal portfolios.
This week, we posed the following questions to over 1,000 Benzinga visitors on cryptocurrency investing:
Do you think Bitcoin is heading below $30,000 by the end of March?
Do you think Ethereum is heading below $2,000 by the end of March?
Do you think Dogecoin is heading below $0.10 by the end of March?
Apex cryptocurrency Bitcoin (CRYPTO: BTC) is trading lower by 19.7% to $38,350 on a year-to-date basis. The world’s most popular digital currency is trading off its 200-day simple moving average (SMA) of $45,570 by 15.8%.
For the uninitiated, the 200-day SMA serves as a way for traders and investors to identify whether a cryptocurrency or equity is in a bull or bear market.
The SMA ranks as one of the easiest-to-compute technical indicators. This popular indicator levels out price data and can help you better identify market trends.
The SMA can even provide objective signals that can assist you in selecting market entry and exit points as a trader or investor.
Ethereum (CRYPTO: ETH) is trading lower by 27.5% on a year-to-date basis at $2,650. Ethereum is off its 200-day SMA of $3,224 by roughly 17.8%. Ethereum has not seen the $2,000 price level since July 2021.
Dogecoin (CRYPTO: DOGE) has fallen around 21% from $0.17 to $0.14 since the beginning of the year. Dogecoin is off its 200-day SMA of $0.21 by 33.3%.
This survey was conducted by Benzinga in February 2022 and included the responses of a diverse population of adults 18 or older.
Opting into the survey was completely voluntary, with no incentives offered to potential respondents. The study reflects results from over 1,000 adults.
Download the mobile app now, available on iOS and Android.
Click here, or sign up for our newsletter to explore more of Benzinga’s Cryptocurrency market coverage, in-depth coin analysis, data, and reporting.
For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to Benzinga Podcasts and our YouTube channel.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
$10 of crypto when you trade $100
*U.S. residents only*
eToro USA LLC; Investments are subject to market risk,
including the possible loss of principal.
$27 of crypto when you complete education
$25 in BTC when you deposit $100
2 free stocks when you make ANY deposit
© 2022 Benzinga | All Rights Reserved
Advertiser Disclosure: TD Ameritrade, Inc. and Accretive Capital LLC are separate, unaffiliated companies and are not responsible for each other’s services and products.
Editorial Disclosure: Reviews are as determined by Benzinga Money. Opinions expressed here are solely the author’s and have not been reviewed, approved or otherwise endorsed by reviewers.