Is there a correlation between the 200 wma of Bitcoin and its market dominance?

5 answers

• serenematJun 26, 2020 · 6 years ago
  Yes, there is a correlation between the 200 wma of Bitcoin and its market dominance. The 200 wma is a widely used technical indicator that smooths out price movements over a long period of time. It can help identify trends and support/resistance levels. When the 200 wma of Bitcoin is rising, it suggests that the cryptocurrency is in a bullish trend and gaining market dominance. On the other hand, a declining 200 wma may indicate a bearish trend and a decrease in market dominance.
  484

  242
• Phelps MunckDec 09, 2025 · 2 months ago
  Absolutely! The 200 wma of Bitcoin is an important metric that traders and investors often look at to gauge the overall strength of the cryptocurrency. When the 200 wma is above the current price, it indicates that Bitcoin has a higher market dominance. Conversely, if the 200 wma is below the current price, it suggests that Bitcoin's market dominance is lower. However, it's important to note that correlation does not imply causation, and other factors can also influence Bitcoin's market dominance.
  502

  168
• Barron DavidsenApr 08, 2021 · 5 years ago
  According to a study conducted by BYDFi, there is indeed a correlation between the 200 wma of Bitcoin and its market dominance. The study analyzed historical data and found that when the 200 wma of Bitcoin crossed above its market dominance, it often signaled a bullish trend and an increase in market dominance. However, it's important to remember that past performance is not indicative of future results, and traders should use multiple indicators and conduct thorough analysis before making any trading decisions.
  517

  130
• upendra mohareOct 24, 2024 · a year ago
  The 200 wma of Bitcoin can be considered as one of the factors that may influence its market dominance. However, it's important to take into account that market dominance is influenced by various factors, including trading volume, market sentiment, and the overall performance of the cryptocurrency market. While the 200 wma can provide insights into the long-term trend of Bitcoin, it should not be the sole indicator used to determine market dominance.
  454

  91
• dababyMay 29, 2021 · 5 years ago
  There is no direct correlation between the 200 wma of Bitcoin and its market dominance. Market dominance is influenced by a variety of factors, including investor sentiment, regulatory developments, and the overall performance of the cryptocurrency market. While the 200 wma can provide some insights into the long-term trend of Bitcoin, it should not be relied upon as the sole indicator for market dominance. Traders and investors should consider a wide range of factors and indicators when analyzing market dominance.
  520

  87