Bitcoin is in the spotlight again due to the 'death cross', a chart pattern indicating a bearish market when the short-term moving average crosses the long-term. However, analyst Evan Aldo suggests it could signal a market bottom and potential growth.
Emergence of the 'Death Cross'
The 'death cross' pattern appears when Bitcoin's 50-day moving average falls below its 200-day average. This is traditionally seen as an indicator of a bearish market.
Evan Aldo's Analysis
Crypto analyst Evan Aldo suggested that the 'death cross' might indicate a market bottom. Analyzing charts, he highlighted that historically, this pattern has been associated with potential rebounds, targeting $120k by summer and $150k by year-end.
Macro-economic Pressure Factors
Despite potential positive forecasts from Aldo, the new tariffs planned by Trump could negatively impact market sentiment and increase pressure on Bitcoin starting April 2.
Although facing potential negative signals, Bitcoin may show significant recovery if analyst predictions hold true. However, external macroeconomic pressures should also be considered as they may affect market dynamics.
