Bitcoin can ignore the death cross
According to CoinMarketCap, over the last 24 hours the bitcoin loses more than 6.5% and is currently trading around $6,850. Thus, it is clear that $7.5 K for the reference cryptocurrency has become a serious resistance level. To date, the formation of the March 30 “cross of death” did not cause a rapid reduction in BTC.
The death cross is a good signal, but should not be taken as 100% sign of imminent collapse. This, like any indicator, it works far not in all cases in equity markets, where it was originally spotted. In the cryptocurrency market where high volatility and relatively low liquidity, the quality of these signals falls.This means that the falling 50-day mA below the 200-day confirms a sharp turn bitcoins to decrease in the last two months, and no more.
It became known that the organizers of the ICO Centra Tech is detained by order of the Commission on securities and exchanges (USA), coin project, CTR has fallen by 67%. As such news, the cryptocurrency market will inevitably “lose weight”. The results of the study the Group showed that before the auction “live” only 8% ICO projects, and less than 4% of them were successful and brought profit to the investors. The vast majority – 80% of all ICO was a “Scam”.
As they Mature and the investors themselves, development regulation, clearing of thousands of dead tokens “wild West of crypto-currencies” will become less attractive to hackers and much less volatile for the participants. However, 2017 will remain unique, because it has given unprecedented over the past ten years, the opportunity to earn from scratch.