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A death cross pattern is when the 50-day moving average of an investment falls below the 200-day moving average. Basically, it’s the average price of the investment each day, based on the averages of the previous 50 or 200 days.Why did bitcoin lose half of its value?
Bitcoin has lost around half its value from the all-time high. The coin falling below the $30,000 mark means it loses a lot of the support that had previously looked like consolidation. It could mean the number of long-term holders was overestimated and the market was packed with speculators.Is there going to be a death cross?
In 2018, a death cross was followed by a decline of 70%. In 2019, the death cross was followed by a decline of 47%. Another death cross happened in March 2020 amid the COVID-19 pandemic.What does moving average mean for bitcoin price?
When the moving average for the short term (50-days) sinks below the value of the long term (200 days), it indicates that a dip in price could be more than just a blip on the radar, and the price is trending lower. Forget the 99% of cryptos destined to die out - our resident expert rounded up the 12 cryptos with the MOST profit potential.