Bitcoin ‘Death Cross’ Looms on Price Charts Following Dip below $40K
Bitcoin appears to be approaching a situation called the “death cross,” which, according to Coindesk, is when its 50-day moving average will sink under its 200-day equivalent.
The chart pattern is set to appear this week amid concerns that the US Federal Reserve may reduce “liquidity injections” intended as a pandemic stimulus - as well as mass unrest in Kazakhstan cutting off many mining operations based in the country.
On Monday Bitcoin’s price fell below $40,000 for the first time since September, further agitating pessimism around the largest cryptocurrency.
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