Bitcoin Death Cross (Should we be concerned?)
The death cross is when the 50 day moving average crossed DOWN through the 200 day moving average. In this chart you can see this has happened 6 times. Here were the results after each death cross.
Date Percentage loss Days
4/9/14 18% 1
9/4/14 62% 132
9/14/15 2% 7
3/31/18 54% 260
10/26/19 48% 139
4/12/20 12% 4
3 out of the six time the lowest Bitcoin got from the death cross was less than 20% and with in the first week then it recovered.
The other 3 times it lost over 40% from the death cross and it took over 130 days to reach the low.
Moral of the story is if we do hit anther death cross we have a 50/50 chance of it not being a big deal. But if we do end up in a bear trend it might be a good time to think about HODLing for another year.
What does everyone else think?
~controllinghand
HODLhands
Date Percentage loss Days
4/9/14 18% 1
9/4/14 62% 132
9/14/15 2% 7
3/31/18 54% 260
10/26/19 48% 139
4/12/20 12% 4
3 out of the six time the lowest Bitcoin got from the death cross was less than 20% and with in the first week then it recovered.
The other 3 times it lost over 40% from the death cross and it took over 130 days to reach the low.
Moral of the story is if we do hit anther death cross we have a 50/50 chance of it not being a big deal. But if we do end up in a bear trend it might be a good time to think about HODLing for another year.
What does everyone else think?
~controllinghand
HODLhands
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