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Author: Admin | 2025-04-27
"is Bitcoin dead?"However, Bitcoin’s death crosses tend to stick in the public eye slightly more than the death crosses of other assets. This is likely due to the asset still being a dark horse of sorts, with media outlets placing extra scrutiny on it. In other words, situations like this can make a mountain out of a molehill, with people jumping to conclusions too fast to the ominous "is Bitcoin dead?" question.That being said, this is not the only technical analysis sign that could be leading people to question is Bitcoin dead. The Bitcoin rainbow chart, a specialized chart that uses historical data to predict how Bitcoin will rise and fall over a span of years, suggests that Bitcoin is on the up, but very slowly, with the rest of 2023 being the time to accumulate and hold tight.The rainbow chart is somewhat controversial in the industry, as it was created specifically for Bitcoin, and so it does not have a historical legacy in the traditional markets. However, it has become highly influential, often getting posted and passed around various online trading communities, such as those found on Twitter and Reddit.One of the biggest criticisms of the rainbow chart is that it is overly optimistic; even when it predicts downward activity, it indicates that Bitcoin will always eventually trend towards higher numbers. This is, of course, an indication that it should be taken with a grain of salt. But nonetheless, its mere existence and influence in the space means that it could definitely be contributing to the fear that Bitcoin is dead in 2023.Understanding the Dead Cat BounceThere is another big technical analysis question that has been potentially leading people to question is Bitcoin dead. Some have theorized that Bitcoin is experiencing a dead cat bounce, which refers to a
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