Home Business Best Crypto ETFs BITQ, BLOK, BITS Test Key Chart Levels

Best Crypto ETFs BITQ, BLOK, BITS Test Key Chart Levels

Best Crypto ETFs BITQ, BLOK, BITS Test Key Chart Levels

Cryptocurrency ETFs have become popular since the onset of the pandemic as they help investors overcome the challenges of investing in digital currencies. The best crypto ETFs are BITQ, BLOK and BITS.


The number of digital coins is growing at a rapid rate and it can be difficult for investors to find the best coins.

Another challenge for investors who invest directly in cryptocurrencies is having to learn about crypto wallets and exchanges. Wallets are like private accounts that hold cryptocurrencies while crypto exchanges only allow crypto exchanges. This means that you must have separate crypto accounts to invest directly in digital coins.

Best Crypto ETFs to Watch

With crypto ETFs, you can trade through regular US exchanges just like you would a stock.

Keep in mind that several crypto ETFs that trade in US markets hold derivatives rather than actual coins. They are different from ETFs that hold stocks or bonds.

But crypto ETFs behave like publicly traded stocks and other ETFs that hold stocks. So the trading principles that apply to stocks also apply to crypto ETFs.

Some crypto ETFs also own blockchain companies. Blockchain is the technology behind cryptocurrencies and allows financial transactions to be permanently recorded on a peer-to-peer digital network.

Apply the CAN SLIM system

The best guide to choosing cryptocurrency ETFs are the IBD factors CAN THIN graphical method and analysis. A strong performance will distinguish a successful ETF. The growth in supply can be tracked by the market capitalization and average trading volume of the ETF.

It’s always a good idea to choose a leader rather than a laggard. Leaders are companies that have shown strong growth in recent quarters. For cryptos, this means a higher adoption rate as well as significant price appreciation.

The price may depend on various factors. Some of them are similar to those that affect inventory, such as increasing and decreasing supply. Others, like technology upgrades that affect the price of parts, are not. Coins are also versatile and have multiple use cases which also affect their price.

As with stocks, the market is an important factor, and understanding the direction of the market is vital for investors. This is because a company with strong earnings and forecasts may underperform when market direction declines. On the other hand, a company that has traded above its support line may reach new highs due to the momentum of a rising market.

Remember that cryptos are volatile assets and this affects their performance in all market conditions.

Since late July, IBD’s market outlook has been “upward confirmed”. Investors should remain cautious as recession fears have not gone away and inflation remains high after hitting 9.1% in June. After the Russian-Ukrainian war and the announcement that OPEC+ has only committed to a small increase in oil production, oil continues to weigh on the markets.

Best Crypto ETFs to Watch

The best cryptocurrency ETFs are those that find support at their level 50-day moving average or break the lines of resistance.

ProShares Bitcoin Strategy ETF (BITO) is the first American ETF linked to Bitcoin and holds Bitcoin futures contracts. The ETF has seen strong demand and in April 2022 it had $234 million the average dollar volume of trade. It was among the 4% most actively traded ETFs in the US, depending on the company.

Its relative strength line, which compares the fund’s performance to that of the S&P 500, declined. Shares fell below their 50-day moving average. The ETF is not a good buying opportunity, at least until it rises above this line.

The Amplify Transformational Data Sharing ETF (BLOK) invests in blockchain companies. Main holdings to understand MicroStrategy (MSTR), Coinbase (PIECE OF MONEY), Silvergate Capital (IF) and Accenture (ACN).

With a market capitalization of $635 million, BLOK surpassed its 50 day lineeven if it’s poor Relative strength rating remains a concern.

Best crypto ETFs: watch the 50-day line

Bitwise Crypto Industry Innovators ETF (BITQ) has a market cap of $80 million, according to MarketSmith. The fund invests in MicroStrategy, Silvergate Capital, Coinbase, Marathon Digital Backgrounds (MARA), Riot Blockchain (RIOT) and other leading players in crypto assets. Shares of BITQ over the past few weeks have recently breached their 50-day line, although the RS rating remains below 10.

Global X Blockchain and Bitcoin Fund (PARTS) has a market cap of $9 million. The fund invests in the Global X Blockchain ETF (BKCH) and bitcoin futures.

The shares are above their 50-day line, although the RS rating is also weak. Crypto ETFs are slowly rebounding from deep declines, leaving them with low RS ratings and RS lines.

The Valkyrie Bitcoin Miners ETF (WGMI) has a market cap of $4 million and also sits above its 50-day line. The fund owns several companies with ties to Bitcoin mining, such as Advanced micro-systems (AMD), CleanSpark (CLSK), Bit Farms (BITF), Hive Blockchain (HIVE) and Riot Blockchain.


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