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Cryptocurrency crash overshadows bitcoin’s bullish bid for ‘golden cross’ amid fears of contagion from China

September 21, 2021
Source: bollyinside.com bollyinside.com
News Snapshot:
However, the recent pullback in bitcoin, and crypto more broadly, could undercut positive momentum for the digital asset. A death cross in bitcoin, when the 50-day falls below the long-term average, occurred back in late July (see attached chart), bitcoin has been steadily grinding higher, of late. At last check, bitcoin BTCUSD, -8.43% was more than 7% lower at about $44,376.50, and off 16% from an its early September peak. A recent uptrend for bitcoin had put the asset on the verge of a so-called golden cross, where the 50-day moving average crosses above its longer-term 200-day moving average. Crosses...
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