Investors Who Profit from Buying DOGE Rarely Pay Attention to BTC- Jan. 29th

Analysts at Bexplus believe that as DOGE’s one-day market has reached the highest short-term popularity, its capital outflows have also begun to appear. Most investors cash in short-term gains instead of buying mainstream cryptocurrencies such as BTC again. This may be a feature of short-term trading.

From the perspective of the direction of capital inflows, more than 93.33% of the net capital inflows came from USDT, indicating that the surge in DOGE has attracted investors to enter the market quickly. At the same time, 93.33% of profitable investors will convert to USD again, indicating that a large part of investors’ capital outflows is USD rather than buying BTC. It is not difficult to imagine that whether BTC can break through the $40,000 market again may still be worrying.

Although the price of Bitcoin has soared by $5,000 just now, it has started to slow down. Investors should pay more attention to the stabilization of mainstream currencies and pay attention to risks when they blindly chase the rise.

The analysis of cryptocurrencies in real-time should be taken for informational purposes only, and in no case should it be taken as an investment signal. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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[…] Bexplus believe that after the BTC spiked and fell on January 29th, the price remained bearish. The 4-hour chart shows that the moving average is in a state of […]

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