1/11/2022- 8:09 a.m.
Bitcoin ‘Death Cross’ Looms on Price Charts Following Dip below $40K
Bitcoin appears to be approaching a situation called the “death cross,” which, according to Coindesk, is when its 50-day moving average will sink under its 200-day equivalent.
The chart pattern is set to appear this week amid concerns that the US Federal Reserve may reduce “liquidity injections” intended as a pandemic stimulus – as well as mass unrest in Kazakhstan cutting off many mining operations based in the country.
On Monday Bitcoin’s price fell below $40,000 for the first time since September, further agitating pessimism around the largest cryptocurrency.
