{"id":635939,"date":"2024-08-16T13:00:51","date_gmt":"2024-08-16T13:00:51","guid":{"rendered":"https:\/\/uniquehot.com\/?p=635939"},"modified":"2024-08-16T09:35:53","modified_gmt":"2024-08-16T09:35:53","slug":"bitcoin-bearish-death-cross","status":"publish","type":"post","link":"https:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bearish-death-cross\/","title":{"rendered":"Bitcoin Risks Further Decline As Bearish Death Cross Returns"},"content":{"rendered":"

A crypto analyst has unveiled a new <\/span>bearish death cross for Bitcoin (BTC)<\/span><\/a>, the world\u2019s largest cryptocurrency. According to the analyst, Bitcoin is at risk of <\/span>further price stalls<\/span><\/a> before any potential upward movement.\u00a0<\/span><\/p>\n

Bitcoin Prints Another Bearish Death Cross<\/h2>\n

In an X (formerly Twitter) <\/span>post<\/span><\/a> on August 15, a crypto analyst identified as \u2018Mags,\u2019 shed light on <\/span>Bitcoin\u2019s recent price movements<\/span><\/a>, emphasizing key pattern formations and the cryptocurrency\u2019s future outlook. Sharing a chart illustrating Bitcoin\u2019s price action from October 2023 to August 2024, Mags observed that BTC has <\/span>printed a bearish death cross<\/span><\/a> on the daily chart, where the 50-day Moving Average (50 MA) crosses below the 200-day Moving Average (200 MA).\u00a0<\/span><\/p>\n

Related Reading: XRP Price Prediction: Analyst Says God Candle Will Send Price To $57<\/a><\/div>\n
\"Bitcoin
Source: X<\/figcaption><\/figure>\n

The analyst indicated that the formation of this death cross signals a potential short-term <\/span>weakness in the Bitcoin market<\/span><\/a>. Generally, a death cross pattern in a cryptocurrency\u2019s chart suggests the probability of further bearish momentum and price declines.\u00a0<\/span><\/p>\n

According to Mags, Bitcoin\u2019s recent bearish cross is the second death cross the cryptocurrency has formed since its price bottom at $15,500. He revealed that the previous bearish cross had occurred in September 2023, when Bitcoin was trading at $25,000, representing less than half of its current price.\u00a0<\/span><\/p>\n

Following the 2023 bearish cross, Bitcoin traded sideways for several weeks, marked by considerable <\/span>market volatility<\/span><\/a>. However, the cryptocurrency\u2019s price eventually regained momentum and reclaimed the moving averages. This led to a <\/span>bullish cross<\/span><\/a>, where 50 MA surpassed the 200 MA, triggering a strong upside rally.\u00a0<\/span><\/p>\n

Mags suggests that Bitcoin is currently replicating the same <\/span>death cross pattern <\/span><\/a>observed in previous trends. He predicts that the pioneer cryptocurrency will experience a few weeks of \u201cchoppy price action,\u201d followed by a bullish confirmation if it succeeds in reclaiming the moving averages. The analyst further anticipates a significant bullish cross, potentially leading to a <\/span>strong rally for Bitcoin<\/span><\/a>.\u00a0<\/span><\/p>\n

Bullish Rise To $143,000?<\/h2>\n

In another <\/span>X post<\/span><\/a>, a crypto analyst identified as \u2018Milkybull Crypto,\u2019 shared a more <\/span>optimistic price forecast for Bitcoin<\/span><\/a>. By referencing a price chart that tracks Bitcoin\u2019s movement from 2022 to the end of 2024, the analyst drew a parallel between the cryptocurrency\u2019s current market situation and certain events that occurred in 2023.\u00a0<\/span><\/p>\n

\"Bitcoin
Source: X<\/figcaption><\/figure>\n

According to Milkybull Crypto, many analysts had predicted a <\/span>significant Bitcoin crash<\/span><\/a> to $10,000 in 2023. However, the market defied these bearish expectations with an unexpected upward momentum.\u00a0<\/span><\/p>\n

Related Reading: Prepare For Impact: Shiba Inu Whales Increase Their Holdings By 600% In A Single Day<\/a><\/div>\n

The crypto analyst has disclosed that a similar situation was presently unfolding in the market, with most analysts calling for a <\/span>Bitcoin cycle top<\/span><\/a>. He expects that in the fourth quarter (Q4) of 2024, Bitcoin will exceed all predictions, rising towards $95,000, before experiencing a massive surge to $145,000.\u00a0<\/span><\/p>\n

As of the latest update, <\/span>the price of Bitcoin<\/span><\/a> is trading below the $59,000 mark. CoinMarketCap reports that the cryptocurrency had experienced a 4.32% <\/span>decline<\/span><\/a> over the past week which had pushed it to a current price to $58,484.\u00a0<\/span><\/p>\n

\"Bitcoin
BTC price holds above $58,000 | Source: BTCUSD on Tradingview.com<\/a><\/figcaption><\/figure>\n
Featured image created with Dall.E, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"

A crypto analyst has unveiled a new bearish death cross for Bitcoin (BTC), the world\u2019s largest cryptocurrency. According to the analyst, Bitcoin is at risk of further price stalls before any potential upward movement.\u00a0 Bitcoin Prints Another Bearish Death Cross In an X (formerly Twitter) post on August 15, a crypto analyst identified as \u2018Mags,\u2019 shed light on Bitcoin\u2019s recent price movements, emphasizing key pattern formations and the cryptocurrency\u2019s future outlook. Sharing a chart illustrating Bitcoin\u2019s price action from October 2023 to August 2024, Mags observed that BTC has printed a bearish death cross on the daily chart, where the 50-day Moving Average (50 MA) crosses below the 200-day Moving Average (200 MA).\u00a0 Related Reading: XRP Price Prediction: Analyst Says God Candle Will Send Price To $57 The analyst indicated that the formation of this death cross signals a potential short-term weakness in the Bitcoin market. Generally, a death cross pattern in a cryptocurrency\u2019s chart suggests the probability of further bearish momentum and price declines.\u00a0 According to Mags, Bitcoin\u2019s recent bearish cross is the second death cross the cryptocurrency has formed since its price bottom at $15,500. He revealed that the previous bearish cross had occurred in September 2023, when Bitcoin was trading at $25,000, representing less than half of its current price.\u00a0 Following the 2023 bearish cross, Bitcoin traded sideways for several weeks, marked by considerable market volatility. However, the cryptocurrency\u2019s price eventually regained momentum and reclaimed the moving averages. This led to a bullish cross, where 50 MA surpassed the 200 MA, triggering a strong upside rally.\u00a0 Mags suggests that Bitcoin is currently replicating the same death cross pattern observed in previous trends. He predicts that the pioneer cryptocurrency will experience a few weeks of \u201cchoppy price action,\u201d followed by a bullish confirmation if it succeeds in reclaiming the moving averages. The analyst further anticipates a significant bullish cross, potentially leading to a strong rally for Bitcoin.\u00a0 Bullish Rise To $143,000? In another X post, a crypto analyst identified as \u2018Milkybull Crypto,\u2019 shared a more optimistic price forecast for Bitcoin. By referencing a price chart that tracks Bitcoin\u2019s movement from 2022 to the end of 2024, the analyst drew a parallel between the cryptocurrency\u2019s current market situation and certain events that occurred in 2023.\u00a0 According to Milkybull Crypto, many analysts had predicted a significant Bitcoin crash to $10,000 in 2023. However, the market defied these bearish expectations with an unexpected upward momentum.\u00a0 Related Reading: Prepare For Impact: Shiba Inu Whales Increase Their Holdings By 600% In A Single Day The crypto analyst has disclosed that a similar situation was presently unfolding in the market, with most analysts calling for a Bitcoin cycle top. He expects that in the fourth quarter (Q4) of 2024, Bitcoin will exceed all predictions, rising towards $95,000, before experiencing a massive surge to $145,000.\u00a0 As of the latest update, the price of Bitcoin is trading below the $59,000 mark. CoinMarketCap reports that the cryptocurrency had experienced a 4.32% decline over the past week which had pushed it to a current price to $58,484.\u00a0 Featured image created with Dall.E, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":635943,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5651],"tags":[428,656,679,1119,89185,1122,1144,78790],"class_list":["post-635939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-bitcoin","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price","tag-btcusd","tag-btcusdt"],"acf":[],"yoast_head":"\nBitcoin Risks Further Decline As Bearish Death Cross Returns<\/title>\n<meta name=\"description\" content=\"A crypto analyst has unveiled a new bearish death cross for Bitcoin 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/uniquehot.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Bitcoin Risks Further Decline As Bearish Death Cross Returns","url":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bearish-death-cross\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/uniquehot.com\/news\/bitcoin\/bitcoin-bearish-death-cross\/"},"thumbnailUrl":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e8dbeb.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e8dbeb.jpeg?fit=1792%2C1024"},"articleSection":"Bitcoin","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/uniquehot.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","bitcoin price","btc","btc news","btc price","btcusd","btcusdt"],"dateCreated":"2024-08-16T13:00:51Z","datePublished":"2024-08-16T13:00:51Z","dateModified":"2024-08-16T13:00:51Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Bitcoin Risks Further Decline As Bearish Death Cross Returns\",\"url\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-bearish-death-cross\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/uniquehot.com\\\/news\\\/bitcoin\\\/bitcoin-bearish-death-cross\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Bitcoin_e8dbeb.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2024\\\/08\\\/Bitcoin_e8dbeb.jpeg?fit=1792%2C1024\"},\"articleSection\":\"Bitcoin\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/uniquehot.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"bitcoin price\",\"btc\",\"btc news\",\"btc price\",\"btcusd\",\"btcusdt\"],\"dateCreated\":\"2024-08-16T13:00:51Z\",\"datePublished\":\"2024-08-16T13:00:51Z\",\"dateModified\":\"2024-08-16T13:00:51Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/uniquehot.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/uniquehot.com\/wp-content\/uploads\/2024\/08\/Bitcoin_e8dbeb.jpeg?fit=1792%2C1024","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/635939","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/comments?post=635939"}],"version-history":[{"count":0,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/posts\/635939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media\/635943"}],"wp:attachment":[{"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/media?parent=635939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/categories?post=635939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/uniquehot.com\/wp-json\/wp\/v2\/tags?post=635939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}