Max pain price $40,000, Put/Call ratio: 0.75
A bullish Golden Cross occurs when the 50 EMA crosses OVER the 200 EMA.
Golden Cross ==> Big Pump!
A bearish Death Cross occurs when the 50 EMA crosses UNDER the 200 EMA.
Death Cross ==> Dump!
In 2013, bitcoin dropped 73 per cent pre-death cross and an extra 70 per cent post-death cross.
In 2017, they said it dropped 70 per cent pre-death cross and an extra 65 per cent post-death cross.
While in 2019 they said it dropped 53 per cent pre-death cross and an extra 55 per cent post-death cross.
We have death cross coming up on charts plus we have 200 EMA resistance at $42k So next two weeks are going to be really hard for bitcoin.
If bitcoin fails to rise and sustain above $42k then there will be huge dump in the market due death cross and 200 EMA Resistance.
Targets : $30k - $24k - $18k.
At the current price of $1,872.1, 83.51% of the addresses currently holding ETH are "in the money"
I'm not in the business of creating fear by using March 2020 comparisons, but I will call something out when I see it, and yesterday we saw the highest daily spike in BTC Inflow Mean to Spot Exchanges since the March 2020 crash.
Also, a 7 day moving average of spot exchange netflows just turned significantly positive for the first time since the distribution in the 50k range.
Analyst: TemptingBeef https://cryptoquant.com/quicktake/60cdb4905eb90075dff3afc8-BTC-highest-spot-inflow-mean-since-March-2020
A former crypto exchange engineer believes that China’s ban on Bitcoin mining is “fantastic news.”
China’s crackdown on Bitcoin (BTC) mining and cryptocurrency trading recently became a primary driver for the red candlesticks on crypto market charts. But one Bitcoin mining engineer believes China’s ban on crypto is “fantastic news.”
Brandon Arvanaghi, a former security engineer at crypto exchange Gemini, compared China’s harsh stance against Bitcoin with the country’s ban on Facebook and Google.
Arvanaghi called getting banned in China a rite of passage for free technology and stressed that the crackdown means that Bitcoin is working, not that it’s failing. “It’s making nations shiver in their boots,” he added.
He said that nations are now picking sides, with China responding to Bitcoin much as it did to major Western tech firms, which is incredibly bullish for Bitcoin for the long and medium-term.
Miners are currently flowing out of China — where a phone call is enough to shut down an entire mining plant — and into the United States.
“Bitcoin is the greatest store of value in the history of planet Earth; nothing is even comparable,” Arvanaghi said, adding:
“We are going to start valuing our wealth in terms of Bitcoin, and the volatility is the tax that we pay for being on the right side of this trade.”
Related: Banks fall in line as China’s central bank cracks down on crypto accounts
Arvanaghi also compared Bitcoin’s journey to a video game. In this trope, market-crashing news like drops in the hash rate or geopolitical tensions are bosses along the way “to the inevitable state of Bitcoin becoming universally identified as the greatest store of value we have ever seen.”
In the meantime, miners are going to look for cheap electricity around the world, and Texas will be a potential address, Arvanaghi predicted recently. “We have governors like Greg Abbott in Texas who are promoting mining. It is going to become a real industry in the United States, which is going to be incredible,” he added.
I've got nothin' but time
You were waiting for the dip...
Here it is