Trader builds Bitcoin ‘buy the dip’ bot, outperforms DCA
A Redditor has created an automated dip-buying bot that beats dollar-cost averaging into Bitcoin by roughly 10%. While a bullish backdrop emerges in February, spare a thought for the traders trying to time the market. One savvy trader by the name of u/Samjhill on Reddit has built a trading tool that outperforms dollar-cost averaging (DCA) for buying Bitcoin (BTC). DCA is the strategy in which investors buy a small amount regularly regardless of price fluctuations. It works in contrast to traders keen to get the lowest entry, timing the dip to perfection and avoiding “catching a falling....
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Bitcoin has been dropping consistently for the past week and the crypto market has lost over $500 billion following this dip. Like with any crash, there have been the expected calls of ‘buy the dip’ from investors who believe that the dips are only temporary and that the digital asset will soon recover all of its lost value. While this advice is sometimes sound, there is no doubt that there are some drawbacks with it, which could range from adding to a losing position that ends up losing more, to sinking more money in projects that may already be doomed to fail. Veteran trader Peter Brandt....
Shiba Inu has once again outperformed Dogecoin this week with around 33% in gains, more than double DOGE’s 14% growth. Shiba Inu Outperforms Dogecoin Two To One In Last Five Days After a while of downwards movement, both SHIB and DOGE have finally enjoyed some sharp uptrend over the past week. While Dogecoin has registered […]
The veteran trader says bullish trends make shorting the current correction a dangerous move, and the dip “may already be over.” Bitcoin (BTC) is bullish in three key areas and a “perfect” buy-in is now no lower than $11,000, popular trader Tone Vays says.In the latest edition of his Trading Bitcoin YouTube series on Oct. 14, Vays presented an optimistic take on the Bitcoin price, which he argues has barely any bearish characteristics.Vays: $11,000 zone is “perfect” dipExamining the weekly and daily charts, Vays noted that there was little reason to expect a significant pullback beyond a....
NVT is a “buy the dip” opportunity that few ever get access to this week, one analyst says, as BTC/USD stays in the mid-$40,000 range. Bitcoin (BTC) is facing a make-or-break moment this week as a classic indicator signals a price watershed. According to the network value to transaction (NVT) price, BTC/USD is in line for a reset at recent lows of just above $42,000.NVT calls a significant BTC moveAfter dipping on negative sentiment as a result of tweets from Elon Musk, Bitcoin is attempting to establish definitive support near its old all-time highs from February.At the same time, NVT,....
A cryptocurrency trader based in China's Hunan province is bringing a lawsuit against cryptocurrency exchange OKCoin. According to court documents, the trader deposited the cryptocurrency litecoin in an account at the exchange, only to wake up the next day to find the funds traded without his notice. The filing asserts that the trader believes he was the subject of a successful hack, and that representatives of OKCoin should bear responsibility. He further claimed that the IP address used to execute the trade was based in Hong Kong. In total, the trader estimates his total loss at $2,900.....