Bitcoin bulls staring down "death cross"

Hanno Labuschagne

Hanno Labuschagne

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Bitcoin bulls staring down "death cross"

After one of the roughest patches ever for Bitcoin enthusiasts, holders of the largest digital currency are facing an ominous technical price pattern with a name that suggests more pain ahead.

Known as a death cross, the measure shows up whenever an asset’s average price over the last 50 days drops below that of its 200-day moving average, an indication that its momentum is headed downward.

And though it hasn’t occurred yet for Bitcoin, it looks to be on course to hit it later this week, according to Mati Greenspan, founder of Quantum Economics.

[Bloomberg]
 
labratza said:
I am sitting in a position now. Do I add more money into my Bitcoin or do I just leave what is there
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according to Warren Buffett, you do the opposite everybody else is doing,
add money to BTC now while its cheap. , and when the price is high profit nicely

but I'll wait a bit more for it to truly hit rock bottom, then buy a huge amount.
and sit and wait for it to multiply, especially when dear old Elon Farts or says something.
 
Could see this for the last year. It simply rose too fast not to come down again.
 
Moby Grape said:
The market is driven by way too many factors. Of course technical tools can't be categorized as science. That doesn't make them useless.
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He's blowing smoke. It's not even listed there.

eg2505 said:
according to Warren Buffett, you do the opposite everybody else is doing,
add money to BTC now while its cheap. , and when the price is high profit nicely

but I'll wait a bit more for it to truly hit rock bottom, then buy a huge amount.
and sit and wait for it to multiply, especially when dear old Elon Farts or says something.
Click to expand...
Which is exactly what he wouldn't do as it's the mindset of everyone right now. :ROFL:
 
Grubscrew said:
I just asked my Mom to resign so that we can use her pension pay out to buy the bitcoin, it is now the time to buy.
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That is the best move you can make.

Contact me, I have an investment opportunity for you. Guaranteed 100% returns in a short while, but you must hurry, the investment opportunity is open for a very limited time period so you need to act fast or you will lose out. Don't delay. Just think about all the money you can have. Can roll up $100 bills to snort cocaine off anyone you chose.
 
“And I think the fundamentals are still really strong.”
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What frekkin fundamentals? Bitcoin has NO fundamentals except market price. There is no country with credit ratings behind it. There is not a business with income statement /balance sheet behind it. There are literally no further fundamentals except market price.

This is not a comment on bitcoin, it is a comment on these "analysts". Market price is enough. But there sure as hell are not any "hidden fundamentals".
 
CommonSense said:
That is the best move you can make.

Contact me, I have an investment opportunity for you. Guaranteed 100% returns in a short while, but you must hurry, the investment opportunity is open for a very limited time period so you need to act fast or you will lose out. Don't delay. Just think about all the money you can have. Can roll up $100 bills to snort cocaine off anyone you chose.
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OK we have received the funds. Where to can we fax the saambou cheque?
 
Grubscrew said:
OK we have received the funds. Where to can we fax the saambou cheque?
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That's great news.
Wait, before you fax the cheque, we need some bridging finance in order to get the funds released first.
I will give you my Capitec account shortly so you can make a initial EFT into that.
I think R50k would be enough to start off with, then we can get the cheque later. You know, just to prove to you that we are legit and you can trust us with the large sum.
 
The global cryptocurrency market cap today is $2.17 Trillion. (Bitcoin at about $0.8T)

Gold market cap is $11.570 T.

It is safe to say we going to the moon. Sell all non-crypto assets and join us to the moon...
 
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