Bitcoin 'death cross' data hints 43% drop due in BTC price bear market

Cointelegraph

Published May 20, 2022 11:15AM ET

Updated May 20, 2022 01:40PM ET

Bitcoin (BTC) may fall more than 40% from last week's bottom, new data warns as one analyst confronts what he says is now a bear market.

In a series of tweets on May 20, popular trader and analyst Rekt Capital argued that BTC/USD should dive to near $20,000 to conform to historical norms.

BTC/USD annotated chart with 200-week MA. Source: Rekt Capital/ Twitter (NYSE:TWTR)
BTC/USD 1-day candle chart (Bitstamp) with 50, 200-day MAs. Source: TradingView

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