If you’re a crypto investor, you should batten down the hatches because it looks like the crypto winter is about to get colder. The past 60 days have seen a rise of over 55% in Bitcoin, but all good things must come to an end. For the last four days, Bitcoin has been slowly bleeding, and if the trend continues, we could see a death cross confirmation this weekend, signaling a return to the cold crypto winter.
What is a death cross, you may ask? It’s a technical analysis chart pattern that occurs when a short-term moving average crosses below a long-term moving average, indicating a possible shift from bullish to bearish sentiment. It’s a sign that the bears may be taking over, and the bulls should be cautious.
Bitcoin’s Rise and…
Bitcoin’s meteoric rise over the past few months has been impressive, with some analysts predicting that it could reach $100,000 by the end of the year. However, as with any investment, there are bound to be ups and downs, and it seems like the tide is turning.
Bitcoin has been on a steady decline for the past few days, and if the death cross-confirmation occurs, it could fall even further. So how low can Bitcoin go this time? That’s a difficult question to answer, as there are many factors at play, such as market sentiment, regulatory changes, and technological advancements.
The crypto winter is about to get really cold again, and investors should be prepared for the possibility of further declines in Bitcoin and NFTs. As with any investment, it’s important to do your research and understand the risks before diving in.
