DTube - Will Bitcoin Make A Comeback? - Cryptocurrency Denies Death Cross
One of our most recent video reports!
See the original article below:
Josh Sigurdson talks with author and economic analyst John Sneisen about the recent close call Bitcoin had as a death cross was confirmed and then failed to create an immediate problem.
A death cross is a bearish technical indicator when the 50 day moving average and the 200 day moving average cross over.
However, we've seen a bullish support on the death cross in the past. In 2013, we saw one near death cross where Bitcoin actually found support on the cross and this lead to one of the greatest Bitcoin rallies in cryptocurrency history. Now after that rally, there was a confirmed death cross and it also lead to a multi-year bear market. So the question is, which way will this go? Well so far it is doing as the first cross in 2013 did and finding support off of the unconvincing flat line of the 50 DMA.
No one really knows, it's speculation. You'd have to understand collective general human psychology to know what happens yet, and who knows how much bearish FUD will be caused by media with fake stories like Bitcoin bans and regulations. It's all up in the air as we write this. But it's true to say that Bitcoin found itself resisting the death cross and climbed up to around $7500. We are not convinced we've seen the bottom yet. But we shall see.
This recent correction has certainly been one for the history books and there's no doubt it has hurt a lot of us, but this is an incredibly healthy correction, and technically we've seen a lot worse, going back to a time when only crypto nerds knew what Bitcoin was. Now it's adopted by so many, it's hard to imagine the bear market will last anywhere close to as long.
Let's keep in mind the fact that this allows us to focus on how important Bitcoin is to the world. The fundamental reason for it existing. To end central banks and making government obsolete.
There are a lot of terrible cryptocurrencies out there, but there are a few great ones too. We must base more on fundamental value and application use than speculation. If we focus on value we shall prevail. If we always want more more more, we will get less less less. Greed begets failure.
Stay tuned for more from WAM!
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I`m ready to buy a low when we change the trend :)
Interesting video, what do you think will happen with Ethereum now that there is an ASIC coming out?
Thank you fir these important information
Hi josh,
Yes, BTC must make a come back from this bear market.
I agree with your statement:
The fundamental reason for it existing. To end central banks and making government obsolete.
This is the time that most should be taking to LEARN about crypto, instead of just buying the top app on the AppStore. If they knew better they would clearly see this is just the Patient taking from the Impatient right now.
There is going to be a REVOLUTION with a lot of unprepared sheeple . Sheeple will be using their children to gain sympathy and help . Big cities like NEW YORK are going to turn on themselves . Big city folk will try to go out to the country were they will stick out like a bean in the rice pile , and they will be robbed and raped . Federal workers will line the streets lifeless bodies hanging from poles . Rape gangs and common thugs grow in strength and the police will go into hiding . The military is fighting with itself , patriots against the KAHBAHLIST . The threat of thermal nuclear war grows and not from an outside source . Most big cities will burn to the ground , and most first responders will be gone too . The American militia is all that stands between total chaos and law and order . Talk to your local militia . Talk to your neighbors and your local law enforcement . Make sure you have a plan . Have a bug out bag . Keep your car full of gas . But do not participate in any criminal activities for military tribunals will be in effect and they don’t play games . Justice is swift and there is NO PROBATION . Most militia members will be acting judge advocates and have no patience . Constitutional law may be suspended to bring order , but the bill of rights will stop any over the top decisions from being to cruel . I will not support any rioting or criminal activities unless it involves getting food to starving citizens . Good luck and may your GOD be with you .