{"id":419165,"date":"2020-03-25T14:30:16","date_gmt":"2020-03-25T14:30:16","guid":{"rendered":"https:\/\/ktsl888.com\/?p=419165"},"modified":"2020-03-25T15:42:09","modified_gmt":"2020-03-25T15:42:09","slug":"bitcoin-price-just-death-crossed-but-last-time-led-to-historic-china-pump","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/bitcoin-price-just-death-crossed-but-last-time-led-to-historic-china-pump\/","title":{"rendered":"Bitcoin Price Just Death Crossed, But Last Time Led To Historic China Pump"},"content":{"rendered":"

Bitcoin price<\/a> just formed a death cross of the 50-day and 200-day moving average, a sign that typically signals to investors that the asset in question is in an unhealthy state and could see further downside.<\/span><\/p>\n

However, Bitcoin is anything but typical, and the last time this event occurred, the leading cryptocurrency by market cap broke records for the third-largest single-day pump on record. What\u2019s happens this time around?<\/span><\/p>\n

Bitcoin Price Forms Death Cross, Is Another Record-Breaking Pump Incoming?<\/h2>\n
The latest price action has caused Bitcoin price<\/a> to drop so deep in value, that the first-ever cryptocurrency has formed yet another death cross \u2013 the third of the asset\u2019s current bear market.<\/span><\/p>\n
A death cross occurs<\/a> when a short-term moving average, in this case, the 50-day moving average, crosses a long-term moving average like the 200-day moving average.<\/span><\/p>\n
Related Reading | Seasonality in Bitcoin: Will Spring Bring a Return of Growth to Cryptocurrency?\u00a0<\/a><\/strong><\/em><\/p>\n
This signals to investors that an asset\u2019s bullish trend has begun to wane and could see an extended downtrend in the future. It\u2019s also a sign that the asset\u2019s long-term health is in jeopardy, triggering investors to sell.<\/span><\/p>\n
But in Bitcoin and cryptocurrencies, markets and investors don\u2019t always behave as they normally do, and the last time the death cross formed was in the days leading up to the historic \u201c China pump<\/a>\u201d rally that took Bitcoin price from $7,200 to $10,500 in less than 48 hours.<\/span><\/p>\n
The rally broke records for setting the third-largest single-day gain in the asset\u2019s short, decade long history. Not bad for an event that is supposed to signal death for an asset.<\/span><\/p>\n
Prior to the historic \u201cXi pump,\u201d Bitcoin price<\/a> formed another death cross in late March 2018, then rose on Easter Sunday from \u201cdeath,\u201d and went on a powerful rally.<\/span><\/p>\n
None of these powerful rallies have sustained, giving the death cross credence as an ominous signal that investors clearly pay close attention to.<\/span><\/p>\n
$\"bitcoin$ <\/p>\n

Golden Criss-Cross Make You Wanna… Pump, Pump<\/h2>\n
It\u2019s important to note that these moving averages are closely tightening and converging more often than normal. <\/span><\/p>\n
In late May 2019, Bitcoin formed a golden cross. After the \u201cChina pump\u201d death cross, Bitcoin price<\/a> formed yet another golden cross as the asset was breaking down from $10,000 in late February, just ahead of the panic-selloff that crippled markets two weeks ago.<\/span><\/p>\n
\n
We dump on golden cross and pump on death cross \ud83d\ude02<\/p>\n
— what's in the name (@Ridewithmebit) March 25, 2020<\/a><\/p><\/blockquote>\n