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Jun 19 - Bitcoin dips below $36k amid concerns of impending ‘death cross’



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 2 months ago '15        #1
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Top Goon  topics gone triple plat - Number 1 spot x173
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Jun 19 - Bitcoin dips below $36k amid concerns of impending ‘death cross’
 

 
The price of the world’s major cryptocurrency, bitcoin, has pulled below the crucial $36,000 support level, amid global regulatory crackdowns and environmental concerns.

The crypto was trading down more than 5% on Saturday, at $35,697 per coin. Its value has almost halved from April’s record peak of about $65,000 a token. Traders forecast $32,500 as the next stop before it revisits its low of $30,000.

Bitcoin’s slump comes as traditional markets faced another day of downward pressure, amid comments from the US Federal Reserve about the possibility of raising interest rates sooner than expected. The tightening of regulation on cryptocurrencies in China has been also putting a squeeze on the price.

Analysts say the continuous price decrease is the so-called “death cross” that occurs when the 50-day moving average crosses below the 200-day moving average. The event indicates the potential for a major sell-off. If that happens, bitcoin could enter bear market territory, akin to what happened in 2018.

Bitcoin’s previous death crosses resulted in additional price declines of 70% in 2018 and 47% in 2019. The death cross in 2020 occurred shortly after the Covid pandemic-induced market crash in March.

“Speculative reports suggest that bitcoin could soon drop to $20,000, referencing the looming bearish cross of the 50 and 200 daily moving averages,” head of markets at brokerage firm ITI Capital, Stephen Kelso, told CoinDesk.

According to the executive director of crypto hedge fund ARK36, Ulrik Lykke, quoted by CNBC, “The crypto markets are currently processing a cascade of news that fuels the bear case for price development.”

visit this link https://www.rt.com/busine .. g-death-cross/
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43 comments
 

 2 months ago '16        #2
foshoVoodoo  topics gone triple plat - Number 1 spot x43
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bitcoin is god

all hail kwon
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 2 months ago '17        #3
lucifershammer  topics gone triple plat - Number 1 spot x4
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El Salvador didn't help
+5   

 2 months ago '21        #4
JayMurdoch  topics gone triple plat - Number 1 spot x2
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Disclaimer - This is my opinio.

I said something similar about 3-4 weeks back. The reversal is damn near confirmed at this poiint. All that's needed is some bad news and it's going to drop hard, probably close to 20k. The next time there is some major bad news, either crypto related or just major bad news in general, both the s tock market and the crypto market are going to fall like a rock. 2-3 months later it will likely be back up to the 30-40ks (crypto)

that's what I think so far, it could change since market conditions change similiar to the weather
+14   

 2 months ago '09        #5
JaguarPawww 
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fu*k Bitcoin.
+4   

 2 months ago '18        #6
DUCEDUCE  topics gone triple plat - Number 1 spot x1
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 lucifershammer said
El Salvador didn't help
+3   

 2 months ago '11        #7
nyc 
Props total: 7529 7 K  Slaps total: 733 733
price bout to slap $24k

+1   

 2 months ago '06        #8
philly337  topics gone triple plat - Number 1 spot x1
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Yea sh*t aint looking good
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 2 months ago '07        #9
Rico23  topics gone triple plat - Number 1 spot x1
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I'm so glad i changed my mind about dumping in thousands into Bitcoin a few months ago before the fall
+5   

 2 months ago '06        #10
Lord Booker  topics gone triple plat - Number 1 spot x7
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 Rico23 said
I'm so glad i changed my mind about dumping in thousands into Bitcoin a few months ago before the fall
Bitcoin will be close to 200k by the end of the year
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 2 months ago '19        #11
Tmoe 
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I need ADA and shiba too hit hard
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 2 months ago '12        #12
MemphisAmbition 
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Dollar cost averaging on the way down to lower my buy in.


Last edited by MemphisAmbition; 06-20-2021 at 12:36 AM..
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 2 months ago '20        #13
fit4life 
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 MemphisAmbition said
Dollar cost averaging on the way now to lower my buy in.
This is the way.
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 2 months ago '16        #14
BathWaterMelody  topics gone triple plat - Number 1 spot x7
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hodl like a motherfu*ker.
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 2 months ago '16        #15
Auxthepro 
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 Tmoe said
I need ADA and shiba too hit hard

$10 ADA before year end???
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 2 months ago '05        #16
Krazie 
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 lucifershammer said
El Salvador didn't help
Less than half the GDP of fu*king Rhode Island.

Gonna need a much bigger country in the grand scheme of things to truly have an impact.

 2 months ago '20        #17
Gen Anti Fruit  topics gone triple plat - Number 1 spot x9
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I took a break from checking my portfolio got tired of seeing it still in the red. I’ll check next week.

I have realized dudes gassing sh*t too much.
Dudes will be down they children’s college fund & a wooden nickel still talking about “Bitcoin just dipped 6,000% I’m putting it all in. The kids won’t need college when I bounce back”



Good time to get in and see if you willing to play the game for a little bit.

I’m chilling.
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 2 months ago '17        #18
1Oh 
Props total: 35493 35 K  Slaps total: 1523 1 K
Wait it out. The whales didn't buy at these sub 35K levels to not make profit later.
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 2 months ago '16        #19
FutureHipHop  topics gone triple plat - Number 1 spot x1
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Be greedy when others are fearful
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 2 months ago '20        #20
MeNoSenYouNoCom  topics gone triple plat - Number 1 spot x7
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 lucifershammer said
El Salvador didn't help
 DUCEDUCE said
 Krazie said
Less than half the GDP of fu*king Rhode Island.

Gonna need a much bigger country in the grand scheme of things to truly have an impact.
ya'll really don't understand how huge that impact was, when history looks back...

 2 months ago '09        #21
ahmadou1  topics gone triple plat - Number 1 spot x1
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I just need it in the mid 20’s bro
Once it hit that I’m all in
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 2 months ago '21        #22
MrDoubtfire  topics gone triple plat - Number 1 spot x1
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 FutureHipHop said
Be greedy when others are fearful
Someone that fu*kin gets it!!!



 2 months ago '16        #23
Proveone  topics gone triple plat - Number 1 spot x4
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 lucifershammer said
El Salvador didn't help
Naw fam, have you seen the president/prime Minister of El Salvador? Dude look like a used car salesman. When Panama does it, you'll be cooking with grease.

 2 months ago '18        #24
DUCEDUCE  topics gone triple plat - Number 1 spot x1
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 Proveone said
Naw fam, have you seen the president/prime Minister of El Salvador? Dude look like a used car salesman. When Panama does it, you'll be cooking with grease.
President of El salvador the real deal my country just not that big of an economy
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 2 months ago '10        #25
lltreyll 
Props total: 4148 4 K  Slaps total: 1324 1 K
Yawn....

What's entertaining is knowing a thing or two about psychology and seeing how broads on Facebook and sh*t are exposing their daddy issues with what they post because its Fathers Day...No self respecting man should get seriously involved with any demented twat like that. They're everywhere.
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