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Bitcoin bulls you’ve been warned.
The cryptocurrency is getting very close to the so-called “death cross.” That’s chart-reader lingo for when an asset’s short-term moving average falls below the long-term level, an occurrence that some analysts say portends a further downward move.
In this case, we’re looking at the 50-day average inching dangerously close to the 200-day.
Here are the current crypto prices:
- Visa CFO on cryptocurrency: ‘You have a bubble when the guy shining your shoes tells you what stock to buy’
- Peter Thiel thinks that bitcoin will be the one crypto to rule them all
- Overstock bears win out as SEC threatens its initial coin offering, Bloomberg reports.
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