Bitcoin appears on the verge of confirming a death cross, but one analyst says historical data suggests it's nothing to worry about.
Bitcoin’s (BTC) price action looks to be approaching a “death cross,” but one crypto analyst believes it might not be “so deadly” based on historical patterns. Instead, it could be a bear trap before Bitcoin enters a “super bull rally,” looking at a theoretical BTC’s seven-year super cycle.
A death cross is a bearish signal that occurs when the 50-day simple moving average (SMA) of an asset’s market price falls below the 200-day SMA.
Currently, Bitcoin’s 50-day SMA is at $62,141 and falling, indicating a potential crossover with the 200-day SMA at $61,676.
