{"id":162390,"date":"2021-06-09T18:30:55","date_gmt":"2021-06-09T13:00:55","guid":{"rendered":"https:\/\/ambcrypto.com\/?p=162390"},"modified":"2021-06-09T09:46:30","modified_gmt":"2021-06-09T04:16:30","slug":"bitcoins-death-cross-cant-avoid-that-anymore","status":"publish","type":"post","link":"https:\/\/ambcrypto.com\/bitcoins-death-cross-cant-avoid-that-anymore\/","title":{"rendered":"Bitcoin’s death cross: ‘Can\u2019t avoid that anymore?’"},"content":{"rendered":"

They say, \u201cHistory repeats itself, first as tragedy, second as farce.\u201d Bitcoin has overcome several death crosses in the past, but how will its potential cross pan out this time? Would it be as dreadful as it has always been or would the market witness an unanticipated, out-of-the-textbook move?\u00a0<\/span><\/p>\n

Historically, Bitcoin\u2019s death crosses have occurred right after its price has registered prominent\u00a0<\/span>downsides. As a matter of fact, Bitcoin’s price has been on the slippery slope for almost a month now and, as anticipated, it is on the verge of a potential death cross.\u00a0<\/span><\/p>\n

Commenting on similar lines in his recent analysis video, Amsterdam-based technical analyst Micha\u00ebl van de Poppe asserted<\/a>,<\/p>\n

\u201cThe death cross is going to happen. Can\u2019t avoid that anymore.\u201d<\/p><\/blockquote>\n

When Bitcoin peaked in 2013, it took 135 days for the death cross to occur and during that period, the price dropped by 73%. The death cross confirms a bearish trend and precedes an even deeper downside.<\/p>\n

In 2017, it took 107 days for the death cross to occur. BTC\u2019s price dropped 70% from its $20,000 peak and once the cross actually happened, the coin registered another 65% drop.\u00a0<\/span><\/p>\n

Congruently, when Bitcoin peaked in June 2019, it took 149 days for BTC, while facing\u00a0 a death cross and before the cross occurred, the coin\u2019s price dropped by 53% and post that it experienced an additional 55% correction to the downside.\u00a0<\/span><\/p>\n

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Source: Twitter<\/a><\/figcaption><\/figure>\n

According to the aforementioned trend, Bitcoin performs a death cross between 107 to 149 days after its peak. If history repeats itself, this year\u2019s potential death cross could possibly occur anytime between late July or early September (the red area depicted in the above chart).\u00a0Nevertheless, the t<\/span>rader and analyst Rekt Capital further pointed another possibility and recently tweeted,<\/p>\n

\n

#BTC<\/a> continues to underperform<\/p>\n

At this rate, the Death Cross looks set to occur in the next two weeks or so#Crypto<\/a> #Bitcoin<\/a><\/p>\n

— Rekt Capital (@rektcapital) June 5, 2021<\/a><\/p><\/blockquote>\n