Warning! Bitcoin faces death cross – Market turbulence ahead?

Historical trends showed that recovery was possible post-death cross, as seen in 2020 and 2021.This does not only marked a 3.9% increase in BTC’s price over the past day, but was also a notable rebound from BTC’s decline on the 5th of August, which brought its price to trade as low as $49,781.

This term in trading refers to a scenario where the 50-day moving average drops below the 200-day moving average, traditionally a bearish indicator for traders.from Barchart, this pattern was emerging as Bitcoin’s short-term gains had not sustained above its long-term gains. Adding to this sentiment, a notable crypto enthusiast known on X as ‘walltreetbets’ hasThis pattern closely mirrored the one seen in 2020, when Bitcoin fell into a descending broadening pattern during theAccording to Wallstreetbets’ analysis, the 2024 chart suggested a similar trend.

Notably, Bitcoin’s Market Value to Realized Value ratio, which measures the discrepancy between market price and actual value, was 1.79 at press time.that Bitcoin was undervalued at the time of writing, as a value below 2 often indicates that the asset was trading below its fair value, presenting a potential buying opportunity.

Sverige Senaste nytt, Sverige Rubriker

Similar News:Du kan också läsa nyheter som liknar den här som vi har samlat in från andra nyhetskällor.

Bitcoin, Ethereum ETFs see record volumes amid market recoveryBTC ETFs trading volume hit $5.7 billion. BTC and ETH recovers from market downturn as Blackrock and Nasdaq file for rule change with SEC.
Källa: CryptoAmb - 🏆 22. / 68 Läs mer »

Risk rebounds, Japanese yen, and bitcoin: Market TakeawaysWall Street was rocked on Monday as US equities (^GSPC, ^DJI, ^IXIC) were in a free fall, finding some relief and eventually staging a bounce back on Tuesday...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

Bitcoin slips out of bull market again: Will rate cuts spark another rally?Technical analysis of the Bitcoin [BTC] chart on TradingView showed that the asset has fallen out of the bull market again this year
Källa: CryptoAmb - 🏆 22. / 68 Läs mer »

Market sell-off, tech takes hit, bitcoin falls: 3 ThingsUS stock futures (^DJI, ^IXIC, ^GSPC) are plummeting in Monday's pre-market trading, extending the tech-centric sell-off following last week's disappointing ...
Källa: YahooFinanceCA - 🏆 47. / 63 Läs mer »

VanEck CEO: ‘Bitcoin will be half of gold market cap,’ can hit $350KBitcoin could hit $350k per coin if it hit a half of gold's total market cap, according to VanEck CEO projection.
Källa: CryptoAmb - 🏆 22. / 68 Läs mer »