The dreaded Bitcoin death cross has finally formed with the MA-50 line crossing the MA-200 line yesterday, June 19. Although the pattern typically indicates an upcoming bear market, here are a few reasons not to worry.
The death cross is typically a lagging indicator that shows what has mostly happened in the market already. As such, the market tends to bottom out before the indicator and not after it. In fact, the cross intersection is usually the best time to exit the market for those fearing the worst.
Previously, the death cross indicator has been reliable in both crypto and stock markets. For instance, the Q4 2019 and Q1 2020 Bitcoin crashes were preceded by a death cross.
This article was first published on coinquora.com
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Source: Cryptocurrency - investing.com
