Anyone using Moralis Money could have predicted the latest rally from BitDAO using the Buyers and Market Cap filters. If you had set the Buyers filter to an increase in 100 this month and Market Cap to greater than 100 million, then you would have spotted BitDAO!
On-chain data never lies!
With Moralis Money’s indication of the influx of buyers in real-time, its users get powerful alpha insights into what to buy at what time. Plus, Buyers and Experienced Buyers are just two of several on-chain metrics that help you find the best crypto to invest in at any given moment.
Moralis Money is the tool that enables you to catch altcoin moves as they are getting ready for their next rally!
Moving forward, you’ll get to take Moralis Money for a spin and learn how to use this crypto market prediction tool. Of course, we’ll also review the BitDAO project and look at the BIT token price.
Free BitDAO Price Prediction
Anyone who uses Moralis Money can easily monitor whether interest for BitDAO and the BIT token are going up or down. You can do the same for all existing tokens on Ethereum and other leading EVM-compatible chains.
Use the iframe below to see how easy it is to use Moralis Money. Just select one of the preset filters or apply your unique search criteria. In either case, you get a list of tokens with potential winners in just a couple of seconds!
It’s important to remember that it isn’t so much about BitDAO price prediction as it is about BIT token’s on-chain activity. By detecting increasing or decreasing momentum based on real-time, on-chain data, you can time your entries (or longs) and exits (or shorts) properly. Remember, timing is key!
Sign up today for a free Moralis Money account, and grasp the many gains the crypto space offers. Now’s the best time to get ready for the next bull run that typically sends the average altcoin on a 50x-70x rally.
So, don’t limit yourself to BitDAO. Discover other altcoins about to embark on the same type of price rally!
BitDAO Price Prediction Using TA
You should primarily focus on timing; however, it’s still smart to combine the power of Moralis Money with some basic technical analysis (TA).
Whenever you are dealing with a cryptocurrency that’s been around for a while, you can more easily predict specific price ranges with higher probability.
So, when it comes to the BitDAO price prediction, you can start on a larger timeframe (monthly or weekly) and draw major support and resistance lines. Here’s an example on a weekly chart:
Looking at the above chart, you can see that despite BitDAO’s last rally (which was quite significant), the token still has a lot of room to grow. Of course, keep in mind that BIT, like every other token, follows Bitcoin’s price and the conditions of the rest of the crypto market.
So, if the crypto market continues to recover, the red lines above the current price (resistance levels) mark the most likely price targets. If the crypto market was to take a downturn again, the green lines (support levels) would be the most likely BitDAO price prediction levels.
Of course, there are many other TA indicators and tools that can help you predict token prices. However, just a simple resistance/support charting in combination with Moralis Money is more than enough.
What is BitDAO?
BitDAO is a special type of decentralized autonomous organization (DAO) launched in August 2021. It is a collective of developers, products, and mutually beneficial ecosystems governed by BIT token holders. BitDAO is also an open platform for proposals, which can be approved or rejected based on the results of votes submitted by BIT token holders.
According to docs.bitdao.io, BitDAO’s main goal is to support builders of the decentralized economy. To help you better understand BitDAO, check out this DAO’s governance, resource management, and principles below. If you want to explore BitDAO in more detail, make sure to visit their litepaper. The latter awaits you on the aforementioned documentation page.
BitDAO is governed by BIT token holders. Submitting proposals on the BitDAO forum is permissionless, as well as submitting official proposals on the BitDAO Governance Module (Snapshot). It’s also permissionless to hold and delegate BIT, as well as to vote on proposals.
According to bitdao.io, all decisions are subject to proposals and voting by BIT token holders. Some examples of decisions include implementing corrective actions, launching new initiatives, assigning and modifying powers to operating teams, and transferring and recalling treasury resources.
BitDAO’s Resource Management
The BitDAO treasury grows through three channels. First, there are net inflows from core BitDAO products. A great example of that is Mantle – an Ethereum scaling solution (rollup) that has inflows from various layers of the modular blockchain stack. Second is the increasing value of BitDAO’s assets held in the treasury or off-chain. Third, the contributions from Bybit, which is currently a fixed schedule of BIT.
Further, the BitDAO treasury allocates resources for multiple purposes, including funding the development and adoption of core BitDAO products, token swaps with other organizations, liquidity support and BIT Purchase programs, and specialized initiatives (e.g., Game7 in collaboration with Forte).
BitDAO is not your typical company; it operates without a traditional management team or employees. Instead, it’s an assembly of builders and stakeholders who hold the BIT token and share a common goal of making the project a resounding success.
Its unique governance structure enables anyone to propose partnerships and upgrades to the protocol. The ultimate decision on whether to approve or reject these proposals lies with BIT token holders.
For partnerships or BIT use cases sponsored by others, there is no need for a governance proposal. BitDAO welcomes all forms of free publicity and is open to new BIT use cases.
What is a Decentralized Autonomous Organization?
A Decentralized Autonomous Organization (DAO) is a novel concept that has revolutionized the way organizations work. It is a decentralized governing body based on smart contracts and enables organizations to operate without a central authority. DAOs are essentially a collection of rules encoded in smart contracts that govern the organization’s behavior. These rules are executed automatically by a network of computers, removing the need for intermediaries, such as lawyers or regulators.
DAOs are based on blockchain technology and provide on-chain governance, meaning that decisions are made transparently and democratically. Token holders are the ones who participate in decision-making, and their voting power is typically proportional to the number of tokens they hold. However, there can be other guidelines to ensure everyone in the DAO has a fair say in decision-making.
Transparency is one of the most significant benefits of DAOs. All the rules, transactions, and decision-making processes are on-chain, so they can be verified by anyone. This enhances the trust between the members of the DAO, as it eliminates the need for intermediaries that might be prone to corruption or favoritism.
DAOs have already been used in various industries, including finance, gaming, and art. Some examples include:
- Managing investment funds and providing decentralized lending platforms.
- Controlling in-game assets and providing community-driven governance.
- Funding and managing art projects.
DAOs are a revolutionary concept that has the potential to disrupt traditional organizational structures. They provide on-chain governance, transparency, and community trust, enabling anyone to participate in decision-making regardless of their location or social status.
Is BitDAO a Good Investment?
If BitDAO is a good investment or not is ultimately up to you. At this point, you know the basics of BitDAO and where to explore the details of the project further. As such, explore the project further, and invest based on your belief in the project.
On the other hand, it’s typically smarter to invest based on what is currently going on in the market and anticipate what is coming next. To do this with high probability, you need to consider on-chain data. So, instead of focusing too much on TA for the BitDAO price prediction, use Moralis Money to see whether BitDAO is gaining or losing momentum.
With Moralis Money, even casual traders can stay updated with the latest buy or sell signals for BitDAO and countless other coins. It has never been easier to know if cryptos such as BitDAO are a good investment or not at any given time.
There are many opportunities in the crypto sphere, so do not limit yourself to BitDAO. After all, the greatest opportunities typically lie in new coins. With Moralis Money, you can find new crypto coins before everyone else!
So, use the above-presented iframe (from earlier) to get started with this amazing tool for free. Or, dive into the following sections to learn about the essence of Moralis Money and to receive additional guidance on how to get going with this powerful tool.
Moralis Money Core Features – Token Explorer, Token Shield, and Token Alerts
First, let’s shine the light on the three most common obstacles hindering most crypto traders and investors from making solid investment choices:
- FOMO – Typically, due to a lack of proper tools and systems, most traders let their emotions take over. Consequently, they are constantly chasing the hype and undergoing FOMO, leading them to invest at the top. Then, they experience a painful dump.
- Scams – Unfortunately, scams are not uncommon in crypto. So, many traders fail to identify sketchy-looking coins and fall victim to rug pulls.
- Lack of Time – Keeping track of all tokens and opportunities used to be a full-time job. The crypto markets are always active and highly volatile. Thus, most traders miss out on opportunities that come and go fast.
Fortunately, a team of seasoned altcoin traders and industry-leading Web3 developers created Moralis Money as a direct response to the above obstacles. As a result, even casual traders can gain an edge using Token Explorer, Token Shield, and Token Alerts – the three primary features of Moralis Money.
- Token Explorer is your gateway to querying real-time, on-chain data. Using simple filters lets you see which crypto tokens are gaining or losing momentum. Since on-chain data precedes price action, you get to enter or exit your positions in a timely manner. So, no more FOMO for you!
- With Token Shield, you can avoid scams and reduce your risk by looking at each token’s DEXT score.
- Token Alerts enables you to set up email notifications for your saved filters. So, you get to search for new opportunities on autopilot. Thanks to this feature, you don’t have to go full-time crypto to spot top crypto to buy now.
Moralis Money Quickstart Guide
It’s time we show you how you can obtain your first list of tokens with high potential in seconds. When using Moralis Money to spot opportunities like BitDAO, it all comes down to the following four steps:
- Open Moralis Money and go to the Token Explorer page.
- Apply the Coin Age filter if you are interested in new coins. Or, use the Market Cap metric to focus on more established coins.
- Click on the “Add Another Filter” button to use metrics like Holders, Buyers, and Experienced Buyers, to remove garbage coins and only view only tokens gaining momentum.
- Refine your results further by adding additional filters. Simply repeat this sequence: select a metric, filter, enter a value, select a timeframe, and run your query!
Alternatively, you can start with a single click by selecting one of the preset filters:
Whether you are interested in day trading crypto or long-term investing, Moralis Money provides priceless insights. Of course, make sure to use the timeframes that match your agenda. The lower the timeframe, the more likely you are ahead of the herd!
Staying on the Safe Side with Token Shield
Even if you decide to focus exclusively on tokens that have been around for a while, it’s important to take some safety measures. This is even more urgent when you decide to search for the next big crypto among new tokens.
Fortunately, the Token Shield feature does its magic automatically. Whenever you run a query with Token Explorer, Token Shield performs a security check before displaying the results.
You’ll see a color-coded shield with a security score next to every token. The higher the score, the less “shady” of a project. If you want to take the minimum risk, we encourage you to focus on tokens with green shields.
You can further utilize Token Shield by applying the Security Score filter. For example, here’s how you’d focus only on tokens with a security score of 75 or higher:
What is BitDAO and the BIT Token? – Summary
In today’s article, you learned all you need to know about BitDAO and the BIT token. You can now determine whether or not it deserves more of your attention. Regarding the BitDAO price prediction, you also learned that TA could give you some nice price levels. However, it’s still all highly speculative. As such, it’s far more accurate to focus on on-chain data. The latter can help you detect when BitDAO is gaining or losing momentum.
Nonetheless, if you are interested in BitDAO primarily to make some gains, you should expand your focus. So, consider other reputable altcoins, including MATIC crypto. However, if your goal is to catch one of those 50x-plus moves, new coins are the way to go. In either case, you now know that Moralis Money can help you find the best opportunities with minimum effort.
So, you no longer need to wonder, “why is crypto down?” or “when will crypto go back up?” Instead, just use Token Explorer and let the on-chain data guide your decisions! Finally, you can overcome FOMO, avoid scams, and save time! All that without missing out on the greatest opportunities that crypto has to offer.