Content adapted from this Zerohedge.com article : Source
A key technical indicator could spell trouble for Bitcoin as it nears the dreaded "death cross".
This occurs when the 50 day moving average crosses over the 200 day moving average, on the down side.
In the last hours, Bitcoin did find some support and move upwards.
As usual, Bitcoin is leading the charge, this time in an upward direction.
Last night, Peter Thiel had these comments:
"...but the one use-case of cryptocurrency as a store of value may actually have quite a bit of a ways to go. I would be long bitcoin and neutral to skeptical of just about everything else at this point, with a few possible exceptions.
The question with something like bitcoin is whether it can become a store of value. And the thing it would replace is something like gold. The analogy is it's like bars of gold in a vault that never move and you get it and it's a hedge of sorts against the whole world falling apart."
For now, Bitcoin fended off the "death cross" but it is far from out of the woods.
Non-adapted content found at zerohedge.com: Source
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