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BTC Crash, Fraud and Anti-Hodling: Bad Crypto News of the Week

Published 02/22/2020, 12:00 PM
Updated 02/22/2020, 01:43 PM
BTC Crash, Fraud and Anti-Hodling: Bad Crypto News of the Week

The Bitcoin community collectively facepalmed after BTC fell back below $10,000. It was the result of an $800 crash that took place over the course of one hour, the fifth-largest one-hour drop ever recorded. But some analysts are calling for an unprecedented rally ahead of the pending halving. This is largely due to the appearance of a “golden cross,” when the 50-day moving average crosses the 200-day moving average. In today’s market terms, that calls for a BTC price of $26,000 before the next halving.

Binance co-founder CZ is also optimistic about price gains within the same timeframe. He said previous halvings have seen rises and the next halving doesn’t appear to be priced in yet — perhaps Bitcoin bulls still have more to look forward to.

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