Crypto Corrects After Coronavirus Catalyst Puts End to Epic Run… But the Halvening is Still Coming Up

BTC Golden Crosses and Halvings

After an epic run crypto is seeing a correction that seems to be correlating with Coronavirus fears in other markets. Still, the halvening is still coming up in a little over two months and Bitcoin did just form a golden cross.

One can argue the halving is priced in, or doesn’t matter, or whatever. Just like one might argue that the last bullish golden cross that formed was actually bearish. But, arguing that something fundamentally bullish (halving) or commonly seen as bullish (golden cross) is actually bearish isn’t always an argument that holds up in practice over time (although historically it has worked short term for sure).

Historically, despite short term speed bumps, generated supply being cut in half has correlated with a price increase over time and golden crosses have usually seen price resolve upwards over time. There is better trading systems out there for sure, but when thinking about long term price trajectory, people might want to look at the cross and havling more than the short term correction.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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