RATE Group | First death cross since September approaching
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First death cross since September approaching

03 Mar First death cross since September approaching

Posted at 18:44h in Bitcoin News by

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  • Bitcoin is showing a large bearish signal, approaching its first death cross since September 2019.
  • The death cross has been a strong indicator historical in predicting the price of Bitcoin. 

The crypto market is currently showing a slight recovery. However, this seems to be driven by the rise in the stock market in recent hours. Both sectors are volatile as the uncertainty caused by the spread of the coronavirus continues. As a result, some analysts have identified a strong bearish signal for Bitcoin by reviewing the technical indicators.

Bitcoin is following general market sentiment and, at the time of publication, is trading at $8.773 with a sideways movement (-0.68 %) in the last 24 hours. On the weekly and monthly charts, the number one cryptocurrency by market capitalization is recording losses of 9.35% and 6.37% respectively.

Bitcoin forms a “death cross”

On January 1, the price of BTC was $6,900, with the whole month being an extremely bullish month for Bitcoin. On February…

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