With the Resurrection Cross, can Bitcoin continue to end?

Since the start of Bitcoin, the worst year (published at more than 10% since the start of the year, as shown), the biggest crypto holders are now facing worrying indicators, technology price models show that the The future of Bitcoin first may not be rosy.

This metric, called a desk cross, occurs when the average market price of the asset over the past 50 days falls below its 200-day moving average, indicating that the asset's strength is declining. . Quantum Economics developer Mati Greenspan said he has yet to appear on Bitcoin, but will appear later this week "with very crisp graphics."

According to the press release, all Bitcoins rose 2.20% to $ 42,652.19. So far in 2022, Bitcoin has only tripled. Ethereum, the second largest cryptocurrency, hit around $ 3,233 a coin on Tuesday, but appears to have created a dead cross.

Juthica Chou, Head of Trading at the Kraken OTC cryptocurrency trading platform, has this to say about Death Cross: But we are still seeing a healthy trend over the past 24 hours and I think the fundamentals are still very solid. "

The cryptocurrency has been in high spirits in recent weeks, with Bitcoin falling more than 30% since hitting nearly $ 69,000 in November. Crypto assets face yet another crisis as the Fed is likely to hike rates in March. You can reduce your balance sheet in advance.

With these strict measures, investments like Bitcoin have been scrapped, and only 5% of those surveyed by JP Morgan expect Bitcoin to reach $ 100,000 / pc by the end of 2022.

Although the cross is a bearish indicator, historical data around Bitcoin this indicator remains unclear. When the metrics were released in June of last year, Bitcoin's performance was negative, but when the metrics were released in March of last year, Bitcoin's performance was energetic, and when the metric was released in November 2019, Bitcoin fell.

Mati Greenspan said, “Some people say (cross-death) is a downfall, but for Bitcoin almost every previous death or golden cross has proven it.” It's a good time to buy. All other metrics for 2021 are good times .. For anyone who has entered the Bitcoin market before. "

Piper Sandler, chief technology officer Craig W. Johnson, said that when there is a dead cross for the general industry or the commodity market, most bad news can get expensive. "At the moment, I think the opportunity will be a greater risk for Bitcoin than the current price."

Meanwhile, the International Monetary Fund (IMF) recently warned that changes in the value of cryptocurrency and the similarity of markets could put financial markets at risk. According to the IMF, the relationship between the US stock index and Bitcoin fell from 0.01 in 2017 to 0.36 in 2019 to 0.36 in 2020.

Analysts have long seen that Bitcoin and other cryptocurrencies appear to move with the market, and the connection has been strong lately. The two have seen disagreements recently, as there are signs the Fed is ready to tighten more than previously thought.

Currently, the 100-day relationship between Bitcoin and the S&P 500 is 0.44, the highest since Q4 2020 and one of the most recent over a decade ago. (an example of 1 means the assets are in the same direction, -1 means the assets are in the opposite direction)

Analysts on Tuesday's report said the worsening housing crisis could "correct the slowdown that could lead to financial instability." Of particular concern is the growing adoption of cryptocurrencies like fiat in emerging markets like El Salvador.