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Bitcoin finds itself on the cusp of a concerning technical indicator: the “Death Cross.” This phenomenon occurs when Bitcoin’s 50-day Simple Moving Average (SMA) crosses below its 200-day SMA.
Forbes analyst Steven Ehrlich recently highlighted this trend, which often signals impending bearish momentum.
For the uninitiated, moving averages help smooth out price data to create a single flowing line, making it easier to identify the direction of the trend.
Bitcoin’s modest volatility
Investor sentiment has been tense, with Bitcoin’s price showing modest volatility within a 24-hour range of $25,641.06 to $25,925.03.
According to CoinGecko data, Bitcoin’s market cap is a formidable $503.8 billion.
However, the looming Death Cross could disrupt this relative stability,.
It is not a guarantee of an upcoming bear market, but it does raise eyebrows among market participants.
Bernstein’s bullish prediction
In the meantime, financial research firm Bernstein predicts a significant rally in the cryptocurrency market, primarily led by Bitcoin, due to a recent court decision favoring Grayscales against the U.S. anticipated surge is expected to be driven by long-term institutional investors
Cryptocurrency exchanges review:
#1 OKX - 24h Volume: $ 1 097 255 972.
OKX is an Hong Kong-based company founded in 2017 by Star Xu. Not available to users in the United States.
#2 ByBit - 24h Volume: $953 436 658.
It is headquartered in Singapore and has offices in Hong Kong and Taiwan. Bybit works in over 200 countries across the globe with the exception of the US.
#3 Gate.io - 24h Volume: $ 643 886 488.
The company was founded in 2013. Headquartered in South Korea. Gate.io is not available in the United States.
#4 MEXC - 24h Volume: $ 543 633 048.
MEXC was founded in 2018 and gained popularity in its hometown of Singapore. US residents have access to the MEXC exchange.
#5 KuCoin - 24h Volume: $ 513 654 331.
KuCoin operated by the Hong Kong company. Kucoin is not licensed to operate in the US.
#6 Huobi - 24h Volume: $ 358 727 945.
Huobi Global was founded in 2013 in Beijing. Headquartered in Singapore. Citizens cannot use Huobi in the US.
#7 Bitfinix - 24h Volume: $ 77 428 432.
Bitfinex is located in Taipei, T'ai-pei, Taiwan. Bitfinex is not currently available to U.S. citizens or residents.
My bitcoin-blog: https://sites.google.com/view/my-crypto-jam/ethereum
Crypto Review: https://my-crypto-jam.blogspot.com/2023 ... n-btc.html