Bitcoin is nearing a 'death cross'! Here’s what it means

March 29, 2018

 

Bitcoin has been crashing this week, falling below $8,000, and is currently trading at $7,514.93 according to Coinbase. But there's something in the charts that could have investors hitting the panic button.Bitcoin's chart shows the cryptocurrency is nearing what's called a "death cross." The term is used to describe a crossover of the 50-day moving average and the longer-term 200-day moving average. More specifically, it's used to illustrate when the 50-day moving average moves below the 200-day moving average — technicians often look at this pattern as a bearish sign.

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