Russian media said that traders have discovered a sign that Bitcoin will soon fall. According to reports, Bitcoin will usher in the so-called "death crossing", that is, the 50-day moving average has fallen to near the 200-day moving average, which means that the plunge is approaching.
According to the report of the Russian “Independence” website on March 19, traders discovered a sign that Bitcoin will soon fall. According to Bloomberg News, Bitcoin will usher in the so-called "death crossing", that is, the 50-day moving average has fallen to near the 200-day moving average, which means that the plunge is approaching. Paul Day, an analyst at Dubai stock market, predicted that Bitcoin would fall 76% from the high point in early March and fall to $2,800.
According to reports, this will be the second roller coaster-type crash after Bitcoin reached the peak of nearly 20,000 U.S. dollars in mid-December of 2017. On the 16th, its price was still at $8,000. Other cryptocurrencies , such as Ethereum and Bitcoin cash, have declined.
According to reports, some analysts are convinced that the main reason most respected fell Bitcoin is saying and the whole encryption currency -related negative news overwhelmed. On the 18th, the
British Sky News Channel stated that Twitter plans to prohibit advertisements related to bitcoin, first-money issuance (ICO), token sales, and digital currency purses worldwide . Later came the news that US President Trump will be limited by the world's first state-issued encryption currency that is Venezuela's "oil money" transactions.
Market participants, especially bitcoin production companies, admitted that the chief culprit in the price drop was news. Twitter is not the first to encryption currency defeating social networking media. The Facebook site had stopped related ads as early as the end of January.
Although the diggers and the beneficiaries of Bitcoin all called for no panic, and comforted themselves that Bitcoin had gone through three or four major crises, all of them had been saved, but some experts still predicted that its value would fall to zero, that is, eventually die.
