Cryptos Bounce Despite Ethereum Suffering 'Death Cross'

in #bitcoin • 6 years ago

Content adapted from this Zerohedge.com article : Source

Last week, bitcoin suffered the dreaded 'death cross'. This is when the 50 DMA crosses over the 200 DMA on the down side.

Today, ethereum followed suit.

Since the crossing, bitcoin is basically range bound.

Ethereum was glued to the $400 range the last couple weeks before engaging upon the 'death cross'.

Cryptocurrencies are rebounding with ethereum up 10% since Friday.

Non-adapted content found at zerohedge.com: Source

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#ethereum #deathcross #cryptocurrency #technicalanalysis
6 years ago in #bitcoin by
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     6 years ago 

    Definitely, crypto market will bounce back strongly, as we have almost reached the bottom...

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     6 years ago 

    Upvote and resteemid done man

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     6 years ago (edited)

    Diddnt even realize we hit the death cross today...ouch I have held ETH for a while though, and we are way up all things considered so hope soon we can see this back up over 500 USD but like you said its all kind of up to what BTC does. Good post im most def going to upvote and resteem!

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     6 years ago 

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       6 years ago 

      Today's price will be irrelevant if BTC dips again,which it most likely will.
      (it's price is still chained to BTCs)

      ETH will have a major decision coming up in the next few weeks/months.
      Thanks to those Asics miners specifically built for ETH.

      Now that decision will be monumental...

      thats what im waiting for.

      Thanks for the post @zer0hedge

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         6 years ago 

        We have seen ETH strongly outperforming BTC since its launch in 2015. ETH/BTC exchange rate last year this time was 0.035. Today its 0.06. Almost double. Every year ETH price at least doubles the BTC ratio. I expect by next year ETH will be largest Crypto coin coin by market capitalization.

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           6 years ago 

          You got a 62.86% upvote from @postpromoter courtesy of @zer0hedge!

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