![images (36).jpeg](https://images.hive.blog/DQmRSk3igzXNN53AFVtyFeGc2ecdh23ySfBfxpqE8wQuymN/images%20(36).jpeg)

[Image credit](https://www.google.com/url?sa=i&source=web&cd=&ved=2ahUKEwjBwpKltrPyAhXCi1wKHRyFCu4Qjhx6BAgBEAI&url=https%3A%2F%2Fwww.istockphoto.com%2Fphotos%2Fbitcoin&psig=AOvVaw3mzv-LyEkA1Fg8b-ZSe8La&ust=1629130524246900)



Bitcoin's 200-day moving average has begun... Expected to be $100,000 at the end of the year.


Founder Lee, who is also a bullish Bitcoin bull, said that there is no clear explanation for why the price of Bitcoin is rising. However, he emphasized that it is meaningful that the Bitcoin price is continuing to rise despite the ongoing debate in the US Congress over regulations in China, which banned all cryptocurrency mining in June, and taxation measures for virtual currencies.

He also explained that in a situation where the price of bitcoin is expected to rise, an appropriate investment strategy is to "take a long (buy) position in bitcoin and buy cryptocurrency-related stocks." This is because cryptocurrency-related assets will generally rally.

Among cryptocurrency-related stocks, exchanges Coinbase (stock name: COIN) and Voyager, and mining company Riot Blockchain (RIOT) are recommended because their beta (β) coefficient is estimated to be 2-3 times higher than that of Bitcoin. explained.

The beta coefficient is a measure of how well an individual stock or fund responds to changes in an index in the market. For example, a beta coefficient of 1 means that the return of the fund or stock reflects the market movement. If the beta coefficient is greater than 1, it is more volatile than the market average, indicating that risk and expected return are greater.

Pro-cryptocurrency bank Silvergate (SI) also suggested that the beta coefficient is estimated to be 5 to 10 times higher than that of Bitcoin as a recommended stock.

In addition, exchange-traded securities (ETNs), a cryptocurrency-related derivative product launched by cryptocurrency investment companies Bitwise and Grayscale, are also expected to benefit from the rise in cryptocurrency prices.

Meanwhile, while Coinbase is scheduled to release its second quarter earnings on the 10th, Goldman Sachs predicted that Coinbase would report strong earnings that exceeded market expectations. In addition, it was observed that the number of users increased and the incorporation of cryptocurrencies into the mainstream was accelerated.



---

<center><sub>Posted via [proofofbrain.io](https://www.proofofbrain.io/@tiwa/moving-days-of-bitcoin)</sub></center>