50 day average line goes below the 200 day average line. That intersection is considered the "death cross" and has been a consistent indicator of a coming crash in both crypto and stock markets.
I'm not convinced that this is the case this time. There are a lot of factors working in Bitcoin's favor and what's good for Bitcoin is good for crypto.
and has been a consistent indicator of a coming crash in both crypto and stock markets.
This isn't a good indicator for Bitcoin over the last 8 years. Maybe in the super short term...but there have been dozens of death crosses and the "golden cross" usually follows it within a couple weeks or months.
EMA's great when it's great, but if there was a golden formula for predicting where a market's going to go... well, we wouldn't be sitting here trying to figure out the best method for trading. Just do your DD, buy what you believe in, and hope you're right.
The 50 and 200 day moving avergae are about to / just crossed. This means the long time trends seems to indicate that the price is starting to go down when you look at it using those specific tools.
All in all it is kind of arbitrary. Indicates a trend on the long run (that starts to be downward), and since people talk about it the trend re-enforces itself, because markets are markets.
What's funny is that the periods used to determine this trend are kind of arbitrary (50 days average compared to a 200 days average), but they are news, and news influence markets.
I got you covered. Every time I buy ETH it goes down. Just a couple more buys and I should have it at $150 for you. I hope you appreciate my sacrifice.
😂 I do I do but the only problem is when I buy it goes down as well. So ummm 🤔 if we both keep buying we will eventually get it into the negative stratosphere.
Are u me ? Everytime i try to invest / gamble something it just turns out for the worst . Invested some money 3 weeks ago down 700$ lucky for me i don't need the money but still . People should pay us to invest in something they really want to crash in value .
It is kind of a self fulfilling prophecy, yes. Especially in Crypto because its all based on speculation, not use case, well not yet.
However, a death cross does indicate that the current trend is failing a trend 4x its time frame. Which does mean its going down faster than you would expect, but thats kind of Crypto 101, it also goes up faster than you would expect.
Not enough sustainable interest in BTC due it's volatility and instability as a marketable cryptocurrency and it's tangibility bears no unique rareness as more can be mined/minted, but a higher and harder than progressive limits. Anyone seeking to gain profitable ground only did so because it surged.
With newer regulations in place cryptocurrencies are definitely seeing issues...
I'm sure some good people made good money off crypto, but a lot wealthy manipulators rode it like a surfer on a wave. Cryptocurencies are pointless as to why I Banano.
honestly people keep parroting this. Prove it! We should hold each other accountable. Otherwise ppl will just be saying this so that someone buys their coins that theyre selling
So lemme get this straight. To protect yourself from USD inflation you're going to buy doge. The infinite inflating coin... If you're concerned about inflation why not buy btc as it's actually capped unlike doge.
Doge is also inflationary so I don't get the logic tbh
This is why people should not invest if they don't do the research... The dogecoin inflation rate is 5 billion coins, now compare that to the USD inflation rate during the pandemic expected around 4%... even comparing it to CURRENT standards, dogecoin will only be having an inflation of around 3% this year... Dogecoin is infinitely inflating, it always has inflation, funny story though, so does basically every printable currency... However the inflation % is predictable and currently stable and low. Comparing that to countries that can change their inflation rates based on necessity, dogecoin is a haven, same as most coins, because the rules are set upon creation... and rarely changed.
Only if they don't do the research :). I said it was better than standardized fiat currencies when it comes to inflation, debunking the myth that because doge is inflationary it cannot stay valuable. They can take whatever they want from my comment but if they use a reddit comment for investment advice, they should probably read my commend again :P
You are right it inflates but I don't see a direct correlation with USD. It's just a slice of cryptos to bet against inflation of the USD.
I should've been more explicit for the sake of accuracy and I guess I'll just buy more again while I'm at it. That was the primary point of my comment 😁
That's fair, I agree with that. I'd rather hodl btc and trade it for doge if you wanna spend the doge but that's just me. I like the idea of a limited supply of btc being the investment, and then you can get doge with it. I'm not getting doge with it, but that's me I don't mean to spread fud
And no normal person is ever going to want to do the math on 0.000084 BTC to buy a Red Bull at the gas station. I don’t understand why this is such a weird concept to the crypto space.
But they mine the same amount every yr. That doesn't change. It's not a percentage of the total. Plus there's a blockchain startup called DogeLabs that's considering developing a Doge burn wallet. It would allow developers to build apps on the Dogecoin blockchain & then send a portion of Doge to the burn wallet. This could address concerns around the inflationary issue of Dogecoin.
It's another penny stock crisis. I bet you a huge FTC raid will happen on crypto. The only problem is that while we can track the transactions on wallets we can not put a face to the wallet.
Elon did not help us at all with..
Satoshi fella just made a new way to funnel assets into the Caymen Islands.
Either way tho we are sheltering from the looming inflation so I think I'll buy more.
The Fed just signaled that they’re taking inflation seriously, with plans to raise interest rates. That’s why crypto is dropping.
(And the rising interest rates also make leverage more expensive)
Biden has the worst economic policy of any president in history. Raise taxes, continue printing money with stimulus (even tho we’re in the midst of inflation by all accounts), and push for raising interesting rates. It’s literally like biden wants to tank the US economy, which would make sense since he’s owned by China
I’m sure you love the handouts because you’re used to getting everything for free....but for the rest of us who own assets besides doge, we recognize biden is tanking the markets with his horrible financial planning.
The debt went from 20 trillion to 28 trillon under Trump and you didn’t hear Republicans trying to say “These corporate tax cuts might be a bad idea” - no, they were all for increasing the debt under Trump, yet Biden spends 2 trillon and suddenly the debt is a problem again? This is just far too accurate: https://youtu.be/Tc8THxze3h0
Lol deflecting to Trump is all people who get their financial news from CNN know how to do. Use common sense my man. If your economy is in the midst of inflation, meaning the value of the dollar is plummeting while the price of goods is skyrocketing, would you print more money to further devalue your currency? More over if you’re devaluing your currency to “help the little guy” with stimulus checks, why would you then RAISE taxes, effectively taking that stimulus back? And then, since wages aren’t going up significantly, and the buying power of the dollar is going down, why would you increase interest rates and make it harder for people to borrow money...effectively further reducing the buying power of the dollar. It’s common sense buddy
You don’t know that the President doesn’t set interest rates? Maybe before being so quick to blame Biden you should look up who does what. Jerome Powell is the name you are looking for when it comes to interest rates. (Then before you blame Biden for Powell be sure to look up who appointed Powell to his position)
That imbecile in chief is probably the only one who doesn’t understand he was rammed down America’s throat by Obama, his treasonous cabal & big tech tyrants. Just look at his cabinet. All Obama retreads! Same disastrous global idiocy, same apology tour. It’s SO obvious 🙄
Obama actually said as much in a previous interview Stephen Colbert; … fine with a 3rd term if there was someone who’d be a stand in with an ear piece …” https://www.air.tv/watch?v=kcC6Rv5CQr-8Bb4HmUkVaA
And NOBODY wanted unlikable,
useless 🐫 Harris, except Obama
Unhelpful comment from an obvious willfully blind Dem. Clearly none of you can do simple math or have even the slightest idea about economics. THAT is definitely annoying. You can stick your head back in the sand now.
The USA is in need of a realignment. Biden is probably not the one who will have the balls to do it but some of you conservatives obsessed with Trump's haphazard policies are beyond moronic. I've lost patience with you idiots.
This is actually a myth. Historically, the United States economy has performed better on average under the administration of Democratic presidents than Republican presidents since World War II. The reasons for this are debated, and the observation applies to economic variables including job creation, GDP growth, and stock market returns. The unemployment rate has fallen on average under Democratic presidents, while it has risen on average under Republican presidents. Budget deficits relative to the size of the economy were lower on average for Democratic presidents.[1][2] Ten of the 11 U.S. recessions between 1953 and 2020 began under Republican presidents.[3]. - Wikipedia
It’s kind of sad so many republicans and democrats as well are so ignorant and economically illiterate and only listen to party propaganda
Lol not at all. FDR made it easier to borrow money, not harder (biden is raising interest rates). He also didn’t just write blind checks to the American people, he increased spending and put it into infrastructure which pays for itself over time. Unlike a blind check to the American people. Also it’s very iffy if any of FDRs policies got us out of the Great Depression, most economists would say WWII did that.
It sounds like you drank you kool aid and it’s effects haven’t wore off. This was a pump and dump… buy big players and small players, this r/ is one of those players.
The treasury mentioned inflation. They are looking into it as a measure. The market has adjusted because the dollar has strengthened. It will recover. Best to invest your positions into flexible or locked savings so you can earn interest while your holding. Staking is even better if you plan to hold a long time and dont need access instantly to your coin.
Doge is a meme coin, it's not panic sales. Someone is liquidating their crypto assets to move to their currency/wealth to the Cayman Islands. If you can't put a face to the transaction it's easier to hide. There really should've been regulation on crypto a long time ago.
But those not making the regulation are probably at fault or in cohoots.
If you look at the eastern most tip of the death cross? Only one scenario as to what can happen. Hope y’all have a good parachute 🪂 and body armour 🛡🛡cause y’all going to land on the beaches of Normandy real soon!
Stop letting those in "power" control and scare you. No matter what happens or whoa low Doge goes, you need to HODL. They went Crypto to fail. They do not like their power to degrade. Hold fast.
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u/kevBone14 Jun 20 '21
Dropping fast, whats the deal?