This Analyst Believes That Bitcoin's Death Cross Is Actually A Bullish Signal

Bitcoin once again becomes the center of attention with the "death cross"—a chart pattern that occurs when Bitcoin's short term moving average, such as the 50-day moving average, crosses below the long term moving average, such as the 200-day moving average. This pattern is often seen as a bearish signal. Moreover, there is the issue of tariffs set to take effect on April 2, which could affect market sentiment, including the performance of Bitcoin. However, not everyone is selling off due to all the bad news. Death Cross: A Signal of Decline or a Market Bottom Indicator? Cryptocurrency analyst Evan Aldo explains that the death cross may not be as negative as you think. It could be a sign that Bitcoin is about to recover. Looking at the chart shared by Benjamin Cowen, he noted that this pattern has historically marked the bottom of the market, meaning Bitcoin could be on the verge of a significant recovery.

Even with the current downward pressure, he believes that if the price of Bitcoin drops to the level of $77,000 - $79,000, it will find significant support there. A recovery is expected soon, with Bitcoin potentially reaching between $119,000 and $120,000 by summer. By the end of the year, Bitcoin could reach a high of $150,000, driven by strong market momentum and investor interest.

However, a drop below $75,000 would be a warning sign. The biggest concern would be if the price falls below $70,000, which would be a significant drop compared to previous market corrections following Bitcoin halving events. Historically, Bitcoin has corrected about 30-35% after such events, so anything beyond that could signal deeper trouble. Trump's new tariff plan shakes up the market. The market was heavily impacted on Thursday this week after President Donald Trump announced new tariffs, including a 25% tax on imported cars from Canada and the possibility of tariffs against the EU if they cooperate against the U.S. economy. Cryptocurrencies like Bitcoin, Ethereum (ETH) and Ripple (XRP) have declined by more than 5%. Bitcoin, often seen as a hedge against traditional market risks, has not escaped the sell-off. Experts predict that tariffs, aimed at boosting the U.S. economy, could actually stress the global market, leading to more volatility in both traditional assets and digital currencies like Bitcoin.